Expecting a new baby is always an exciting time, particularly for first-time moms who are exposed to a whole new world of baby related must-haves.
While it’s easy to get swept up in pre-baby planning, it’s just as important to ensure you are prepared by updating your insurance requirements before your baby arrives, according to Casey Rousseau, marketing manager of 1st for Women Insurance.
“Generally speaking, there are five main insurance requirements all new moms should re-look in the run-up to the big arrival – car, home, personal, portable possessions and life cover,” she says.
A list of some of the items parents splash out on:
- Cot: R700 – R11 250
- Compactum: R1 300 – R3 200
- Baby monitor: R600 – R4 200
- Humidifier: R250 – R1 200
- Breast pump: R300 – R1 200
- Pram and carry: R1 000 – R3 000
- Car seat: R1 000 – R3000
In terms of home insurance, Rousseau says it’s not just about adding all your expensive new purchases to your home policy, but also finding out what insurance would be required for specific baby-related items transported in your vehicle such as a pram, car seat, and anything stored in your baby bag.
“In the unfortunate event that your vehicle is stolen or damaged with your critical baby essentials inside, they would in fact fall under the portable possession section of the policy, and not the car insurance policy, meaning it is always best to check with your insurance provider on what type of cover you will need,” says Rousseau.
And while baby equipment and gadgets are replaceable certain things are not, and for this reason Rousseau emphasises the importance of thinking long term when it comes to securing the financial future of your child.
“By being prepared before your baby arrives and ensuring your insurance needs and the benefits offered through the policies are right for you, it’s one less thing to worry about as a new mom,” she says.