There are several ways to find and buy insurance to cover almost every risk you might encounter. They include:
You could also be offered certain insurance coverage as part of a purchase, or have it included within a policy you already have in place.
Examples of ‘bundled insurance’ include:
As well as ‘bundled insurance’ you may also be offered an extended warranty as an incentive to purchase, in addition to any warranty or guarantee period required by law.
The insurance and/or warranties described in these examples may provide all the coverage you need. Be aware, however, that you may find more comprehensive, or more flexible coverage that better suits your needs if you purchase it separately.
When you're looking at the coverage offered by different insurance providers, it can be hard to make a useful or meaningful comparison.
For example, one might offer a lower premium, but include a higher deductible payment in the event of a claim. Another might include a broader range of coverage and benefits, but at a higher premium.
How do you go about selecting the right policy?
While price may be a deciding factor when it comes to choosing insurance, it's a good idea to check out a provider’s reputation before committing. There are plenty of review websites that will give you genuine, honest and unbiased reviews from a provider’s existing customers.
You might want to find out:
Increasingly people want to be reassured that their money is going to organizations whose values are aligned with their own. Paying a little more to insure with a brand you value and trust may be more important to you than going with the provider offering the cheapest coverage.
You may also want to do a little research about a provider’s ethical or environmental credentials before committing to them.
HSBC has partnered with Everfi to create a series of modules on a variety of topics, including Savings, Banking, Credit Cards & Interest Rates, Credit Scores, Financing Higher Education, Renting vs. Owning, Taxes and Insurance, Consumer Protection, and Investing, giving you the tools to better manage your financial future. We hope these interactive digital modules can support your choices.
Additionally, HSBC has created the YourMoneyCounts financial wellness program which is presented by HSBC staff to the community in a classroom setting. Participant workbooks covering Budgeting, Credit, and Identity Theft and a budgeting worksheet are found through the YourMoneyCount link above. This program was created in partnership with the national nonprofit Greenpath Financial Wellness, and they provide free individualized support focused on your personal situation and financial wellness.