Let’s face no sane person likes talking about or thinking about insurance, so why am I writing a blog about it? Because despite it being a really boring subject and let’s face it, it’s quite a depressing topic as well, it is however a part of our life that is essential. People insure everything, pets, technology, vehicles, their lives, the list goes on. But there are good reasons to as it protects things that you love, it helps to cover the cost if something unforeseen and unpleasant happens and it provides protection against things that aren’t covered in a standard policy. So how exactly can a total loss protection policy help me?
Imagine you are a motorbike enthusiast, you got your dream bike, and you like nothing more than going out for a long ride, you might even be the only vehicle you own. But what happens if you have an accident? A lot of accidents involving a bike end up with the motorbike being written off. Or what if you wake up one morning and you get ready to go out only to find that your prize possession has been stolen and you suddenly realise you left the key in the motorbike? General insurance won’t cover either of those scenarios and that would mean it would be a big expense to replace and if you had finance on the motorbike then you would have to cover that cost as well.
While thinking of things like that this is never fun, it is most definitely worth it. Why? Well without taking the time to factor in these possibilities you could make a quick decision based on incomplete information. Just thinking ‘I will be fine, there is no way I would crash, and I would never leave my key in the motorbike, I’m not an idiot’ isn’t being reasonable. Even the safest drivers in the world can’t account for other people and even the most fastidious person in the world is prone to lapses in concentration. After all we are all imperfect, so just saying we would never do something doesn’t make it true. There is nothing wrong with being prepared and that is what this type of cover you from these kinds of possibilities.
There are a lot of different types of insurance and cover that are available but for true peace of mind you are going to need a total loss protection. Why take the risk? It could cost you a small fortune if you do.