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Insurance

A new property is quite an increase in your commitments. It takes a lot of hard work to acquire assets, so it makes good sense to have adequate protection along the way. This not only means having your property and contents covered, but also ensuring that you and your family will be protected in the event of accident, injury or death. Smartline can help you arrange the necessary cover.

• Home building insurance
• Home contents insurance
• Life insurance to cover your loan
• Your rights and your will

Home building insurance

Your lending institution will require you to have your home building insurance in place in order for them to settle on your home loan. This should be arranged immediately.

Home contents insurance

Many people choose to combine their home and contents insurance as this is often less expensive than having two separate policies. You have two choices – indemnity (depreciated value) and replacement/reinstatement.

Life insurance to cover your loan

Life insurance to cover your loan is essential because, unless you are independently wealthy, your ongoing good health is necessary for you to continue to meet your mortgage repayments. People generally require enough insurance so that in the event of terminal illness or death, their dependents will be able to repay the mortgage and have money to live on.

Your rights and your will

If you die intestate (without a will), your estate may be divided according to a Government formula, which may not reflect your wishes and may delay the settling of your estate. Your will should be prepared by an expert. Remember to update it as your circumstances change.

Ask your Smartline Mortgage Broker about arranging your insurance cover.

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