July 2022 Debtfree Issue
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ARE YOU READY FOR WHEN DISASTER STRIKES<br />
CLAIMING FROM<br />
INSURANCE<br />
Debt Counsellors will often encourage clients to<br />
review their insurance situation with an expert to<br />
ensure that they are covered in case of a disaster.<br />
Insurance is there to cover just such eventualities. It is prudent and<br />
having good cover is often a requirement to access credit.<br />
If you have had a vehicle accident, have to go to hospital or if your<br />
geyser blows up and floods your home, then you may well be able to<br />
claim from your insurance. This can take the sting out of the massive<br />
bills that come with such disasters.<br />
If you lose your job, then certain insurance can cover the costs of<br />
your monthly debt obligations (including debt review repayments). Be<br />
sure to ask an expert, or your debt counsellor about how that works.<br />
Still, insurance claims often mean having to pay a hefty excess first.<br />
Depending on how your insurance is set up, that can sting and where<br />
does that extra money come from?
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