Insurance is a very important consideration when it comes to lending. The rationale behind this is that when someone takes on a new liability, it is important to make sure all your asset and lifestyle are protected under any event of unfortunate circumstances.

There are 2 major categories when it comes to insurance: General vs Personal insurance. General insurance is something most finance brokers are able to offer; whereas personal insurance normally requires more detailed analysis of a personal situation, hence it is strongly recommended that you speak to a financial advisor about personal insurance.

The many general insurance types that we offer includes but not limited to below:

- Home insurance

Home insurance is a building policy that cover your loss up to full building replacement cost, in the event of accidental breakage, theft, vandalism, floods, brushfires and other natural events. Most lenders do make it mandatory for customers to have this policy in place as part of home loan approval.

- Landlord insurance

Landlord insurance is a building policy similar to home insurance, except that it now extends the cover to event more relevant to rental property, such as rental defaults. The premium paid on landlord insurance are tax deductible too. Most lenders do make it mandatory for customers to have this policy in place as part of investment loan approval

- Contents insurance

Home and landlord insurance are policy that covers everything that is affixed to the building. Eg as a general rule of thumb if you flip the property upside down anything that does not fall off are covered under building policy, the rest are covered under contents insurance. Contents insurance are not normally mandatory to have as part of lending application but it is good to have for your piece of mind that all your valuables are protected.

- Car Insurance

Car insurance is another common policy we offer to our customers. This insurance covers full replacement cost in the event of write off and accidental repairs, as well as third party policy to protect yourself against damages inflicted against other expensive vehicles. This could be a mandatory policy to have as part of vehicle finance application