Hello everyone.
I was wondering what you, my dear friends, think of non-traditional insurance products launched by insurance companies? for instance, Assurant Solutions has just launched a product called something like "home emergency assistance", which cover's policyholder expenses on unexpected repair works (do not confuse this type of insurance with contents insurance!).

Do you think there is a need in this insurance product and the like or is it just a way of making more money in poor market conditions?

i thought utility companies have already been offering this type of cover for some time? A mate of mine drilled through a hot water pipe when installing his new kitchen few years back. It was Saturday night and he would have been in a right pickle if he did not have home emergency cover with his water company.

You know, Solomon, I figure, it's both. Making more money - on the part of insurance companies, and actual need - on the part of insurance products consumers. And I'm ok with it. It's double dividend. Sometimes emergency repair works cost you a pretty penny. So, I guess it's not bad to have this type of cover. Well, of course if the price is reasonable.

This post has been edited by michellien: 1.6.2009, 10:30

It seems that we are living in the insurance era: we insure our life against death, illnesses, accidents; we insure our houses and belongings against all sorts of eventualities; we insure our cars, income, pets, white goods, pipes, smiles or parts of the body (if you are a celebrity (IMG:style_emoticons/default/wink.gif) ), etc. When and where is it going to end? While i appreciate that some of the insurance policies are vital, surely some of them are simply not worth their money. By the time all the insurance premiums have been paid out, there'd be nothing left in the bank a/c? Aren't insurance companies simply playing on our fears: they say 'what if....???' and we dig deep in our pockets to apply for yet another policy. What do you think?