I read a recent online post where someone commented “whoever said diamonds are a girl’s best friend obviously didn’t have a dog”. Ain’t that the truth! I love my dog…. A lot. He has brought tremendous light into my life, he keeps me motivated to get up, and get out in all kinds of weather, and everyday he makes me laugh. I’m supremely grateful that he’s mine, and love him to bits, my dog is my diamond. So when a couple of colleagues asked me if l had pet insurance, my head started to spin, because no, I didn’t…. and he’s my best friend, and he can’t speak for himself, and l must be the worst mother of a dog ever. And it started me thinking about protecting your assets – whatever they might be, and importantly about taking the time to get your ASSets in order.
I guess I’ve always felt it depends on the stakes as to whether or not you “insure” something, because to be honest, paying insurance premiums often feels like throwing money away. But if you ask yourself “What’ve l got to lose?”, and the answer is “A lot” maybe you’re not throwing your money away after all. It also sort of feels like once you start, you can’t stop – to do so would be like messing with the Insurance Gods, tempting fate, and then you’ll be in trouble. So, I dutifully (well, mind-numbingly) complete my annual car, house and contents insurances; And when l’m travelling l always tick the insurance box, so l guess l thought I’d taken care of insuring the main ones… But then l thought, what about me? What about my health, and protecting my income? After all, it’s just me looking after me, l mean, if l go down will my dog pay the bills? And then l started thinking about my trip overseas, the irony of me organising travel insurance but having no sort of plan in the event of an emergency for my beloved pet, (who incidentally declined the offer to pay our bills), is no way to treat a diamond.
Interestingly, l’m not alone. Most people (a) don’t have plans, and (b) though they insure their car, house and things – they don’t insure themselves. And it’s a big deal, because YOU are actually your greatest asset. It’s especially important for business owners who, in addition to being largely responsible for their families, are equally as responsible to their employees and clients. And the biggest deal is this; It’s about protecting your loved ones in the event of anything happening to you. And l think when it comes to weighing up the stakes, you know you’d always want your family to be OK, they’re not the people you’re willing to roll the dice on are they?
Some people are confident in their belief that superannuation “insurances” will cover them in the event of an accident or inability to work. May l suggest you read the fine print, don’t be confident in your beliefs, be confident in the facts. Do your due diligence and check what your superannuation includes, you don’t want to pay for things twice, but you do want to assure your income and certain c… sicknesses are covered.
Again, it’s about insuring yourself and those important to you. For Hollywood celebrities it’s legs, and teeth, and vocal chords, everyone’s different from dogs to diamonds, we each have our own assets to protect, but you need to start with you. At Ross Group we have an in-house Financial Planner, George Dermentzis who can assist with a plan or review of your insurances. Now, l have to go and find some pet insurance for my most beloved, and then go read the fine print of my superannuation…
Contributed by Melinda Ross