Aussies advised to ensure they are properly insured

The importance of looking online to compare car insurance and take out other policies has been highlighted to Australian families by an expert in the sector.

Theo Marinis, of Marinis Financial Group, told that failing to purchase proper cover can "cause enormous heartaches".

According to the expert, it is vital to compare car insurance and other policies with great attention to detail to ensure they will be sufficient if a claim needs to be made.

"Overinsure is my advice. Nobody has ever complained to me they got too big a payout," he stated.

He described insurance as "one of the strangest products sold", explaining that it is one of the only items purchased that people hope never to use.

As well as taking care to compare car insurance, Mr Marinis also advised looking into home, contents, life and income cover.

Last month, Dr Michael Armitage told the Sydney Morning Herald that the cost of health insurance in Australia might go up by $2.50 a week if government plans to increase the cost of cover are successful.

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