General Insurance: Why “Cheapest” Often Costs the Most

Too many people buy general insurance based on the lowest premium and never think about it again. The problem? You don’t find out what your policy is really worth until you need to claim, and that’s when the fine print matters.

Rebuild costs for homes in New Zealand have risen sharply in recent years. If your sum insured hasn’t been updated, you could be tens or even hundreds of thousands short in a total loss situation. The same applies to vehicles, market values change, and if your cover is out of date, you may not be able to replace what you’ve lost.

Where people go wrong

• Sticking with the same policy year after year without a review
  
  
• Assuming all insurers offer the same cover for the same price
  
  
• Forgetting to update policies after renovations, upgrades, or big purchases
  

The smarter approach
Treat general insurance like a financial tool, not a formality. Review your cover every year, especially if your circumstances or asset values change. Focus on value, not price: comprehensive cover with a reliable claims process is worth more than saving a few dollars a month.

At Invicta Financial, we help you match your policy to your real-world needs. Because the day you need to claim isn’t the day you want surprises.