Your lending institution will require you to have your home building insurance in place in order for them to settle on your home loan. This should be arranged immediately.

Many people choose to combine their home and contents insurance as this is often less expensive than having two separate policies. You have two choices – indemnity (depreciated value) and replacement/reinstatement.

Life insurance to cover your loan is essential because, unless you are independently wealthy, your ongoing good health is necessary for you to continue to meet your mortgage repayments. People generally require enough insurance so that in the event of terminal illness or death, their dependents will be able to repay the mortgage and have money to live on.

A personal loan can be a quick and easy way to obtain finance for a range of purposes such as