Insurance Review: Part 1

Material provided by W Financial



One place where people fall down with investing is within their own inner game - their mindset.  In this instance we’re not talking about a “woo-woo” can-do attitude or even just the focus to get the right information. Although these are vital components to wealth creation through property investment, we are actually talking about how seriously you can commit your to your investing.  

You must approach each part of your wealth creation strategy with the right mindset; the reality is, is that you are in business, and you building an extremely valuable property asset base that you need to be taking measures to protect accordingly it as it grows.

The issue here though is that people often just assume that they are properly protected through their existing insurances, and often overlook having a regular review with a top financial planning professional as they continue to grow their portfolio – don’t be negligent, this can lead to hurt.
 
Just consider this: If you had an existing asset protection strategy in place before you accelerated your investment efforts to create MORE assets – do you think there’s a chance that the protection you had that supported your older lifestyle would be applicable to your newer, more investment geared lifestyle? It’s an important question to ask; in fact it is one of the most important questions you’ll ever ask.

Even if you had only grown your portfolio by a property or two since your last policy was put in place, don’t you think it might be a good idea to make sure everything you’ve worked hard to build was still firmly protected? Have you considered what would happen if it weren’t? Assumption as they say is the mother of all catastrophes… Bottom line is, costly problems can be avoided altogether with a simple check up through an expert financial planner.

No one ever expects for unsavoury, or even devastating events to happen to them – we always tend to say “that always happens to someone else.” But the fact remains that sometimes they do in fact strike us down, when we least expect it (or can pay for it), and it can not be stressed enough that it is so important to take asset protection seriously and make sure that you are adequately protecting yourself from the first property to the 10th property and beyond.  Otherwise you may be left standing in the ruins of your incredible hard work, having just watched your property portfolio fall like a flimsy house of cards.

In this upcoming 2 part series we’re going to talk about the most important thing you’ll ever do as an investor – and that’s covering yourself and your family against the unknown.  It’s vital that you realistically acknowledge and accept that bad things can happen (chances are they won’t)… but when you’re a property investor, bad things can happen to your assets, and it’s in those events that you want to make sure that you’re adequately protected and safe from potentially catastrophic financial situations. All it takes is a review with an expert financial planner and we can help you to find that professional.

In the meantime you can talk to us today about having W Financial help you look after your insurance review needs. We understand the importance of it not only from a service provider perspective but as investors as well. We know the best financial planners available – we’ve hand selected them, and we’re more than happy to help you get looked after by our own trusted advisors by pointing you in their direction. Our brokerage is made up of bright team of successful investors with thriving portfolios. Call us today on 1300 891 714 or visit us at WFinancial.com.au and we’ll look after you.
 
Stay tuned for Part 2 where we’ll dive into more detail on the kind of protections you really need to look at!

W Financial is a Melbourne based, leading group of mortgage specialists run by award winning broker and successful investor Michelle Coleman. They’ve written over $500 million dollars in investor loans and the company maintains a stellar reputation, as group of intelligent, proven property investors themselves helping others become the same too. To learn more from W Financial and to find out how they can help you, visit WFinancial.com.au or call today on 1300 891 714

Disclaimer: while due care is taken, the viewpoints expressed by contributors do not necessarily reflect the opinions of Your Investment Property.

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