Rick weighs up the risks

Rick is in his early 20s and about to go flatting. He has a car he bought a couple of years ago for $3,000, but few other possessions.

His Dad kept telling him to get insurance, so Rick visited Sorted to see what he might need and what it could cost. With his apprentice wages, he didn’t have much money to spend.

Rick worked out that what he really needed right now was third party car insurance so he’d be protected if he damaged someone else’s car or property. Rick figured it would be cheaper to replace his car if it was damaged or stolen than pay for more comprehensive insurance.

He also decided to take out contents insurance ($10,000 cover) for his flat. While he didn’t own much stuff right now, this would cover what he had, and also protect him if he accidentally damaged the landlord’s property.

Rick was pleased to learn he could save money by having both policies with the one insurer.