Insurance decisions can feel overwhelming. With banks offering seemingly convenient packages and online platforms promising quick quotes, it’s tempting to take the easy path.
But before you click ‘buy now’ or sign that form, it’s worth understanding what this convenience may be costing you.
‘Quick and easy’ may cost you
On the surface, bank and online insurance policies appear to offer the perfect solution. They ask minimal questions, offer attractive pricing, and give you instant coverage. But this apparent simplicity often masks significant limitations that only become apparent when you need your policy most.
An example of how costly these oversights can be is from a few years ago when a Kiwi couple in Australia discovered their life insurance policy contained exclusions that meant it would never pay out, because they were New Zealanders. Unfortunately, this isn’t an isolated incident. It’s a strong reminder that not all policies are created equal, and the fine print matters.
Are you really saving time and effort?
While online and bank insurance promises to be fast, the reality is quite different. Everyone’s insurance needs are unique. It all depends on their circumstances and financial goals. Finding the right coverage means comparing not just premiums, but policy features, exclusions, and benefits across multiple providers.
Comparing policies and providers is time-consuming and complex when you’re going it alone. A Cole Murray Insurance Adviser can help with the process. Using their market knowledge and relationships with different providers they can work out the best options for you.
Support through making a claim
The reason you have insurance is so you get financial support when life takes an unexpected turn. When you’re dealing with a health crisis, damage to your home, an accident, the last thing you want is to navigate claims processes alone.
Bank and online policies typically offer limited claims support, leaving you to figure out yourself. Small mistakes or misunderstandings can delay or even jeopardise your claim payment.
Having an Insurance Adviser on your side means you have an advocate throughout the entire claims process. They understand the system, know what documentation is required, and can guide you through each step to ensure your claim is processed smoothly and efficiently.
Generic products vs Tailored solutions
Banks and online platforms typically offer standardised products designed to appeal to the broadest possible market. While this approach keeps things simple for the provider, it often means accepting coverage that doesn’t quite fit your needs.
Because we are an independent company, our Insurance Advisers aren’t aligned to any single insurance company. We have access to a wide range of products from multiple providers. We can recommend solutions specifically tailored to your circumstances. This means you’re more likely to have coverage that actually pays out when you need it, rather than discovering exclusions too late.
Don’t rush to cancel your existing policies just yet
Let us help you secure replacement coverage first, especially if your health or circumstances have changed since you first took out insurance. Pre-existing conditions or new health concerns could affect your ability to get coverage elsewhere, or result in exclusions you didn’t have before.
Here with you for the long haul
Working with a Cole Murray Insurance Adviser isn’t just about finding the right policy. We provide annual reviews to ensure your coverage evolves with your changing needs, from career changes and family growth to mortgage increases and health developments. For home and contents insurance we make sure that your cover is still adequate for today’s market in our yearly review.
Come and chat with us
Your family’s financial security deserves more than a one-size-fits-all solution. Come and have an insurance review with one of our Personal Insurance Advisers or Domestic and Business Insurance Advisers. We can see exactly what you’re covered for, identify any gaps or limitations, and see if there are any better options available for you.
The peace of mind that comes from knowing you have the right coverage, backed by support when you need it, is worth far more than the convenience of a quick online purchase.
