Why Should You Get Homeowners Insurance?

<img src="wrecked house.jpg" alt="Wrecked house" width="138" height="92">

Homeowners Insurance is vital if you own property

Homeowners insurance can save you from financial ruin

When you own a home, you invest a great deal of money in your property and loss or damage may cause you grave financial loss if you are not properly insured.

When you apply for Homeowners Insurance, please ensure that all the following items are sufficiently covered in your policy.

Buildings Insurance:

This covers the structure of your home, outbuildings, walls, gates and swimming pool against theft, storms, fire and flood, subsidence and burst pipes.

Liability Coverage:

You are covered if a third party is injured by a defective building on your property or by your pet. You can also request the standard amount of liability to be increased.

Accomodation:

You are refunded for costs incurred regarding cost of accomodation if you have to relocate temporarily due to damage to your home.

Home Contents Insurance:

All movable property in your home is covered by home contents insurance. This also covers loss or damage due to theft, storms, fire and flood. A good way to figure out what is covered by home contents insurance, is if you pretend to pick your house up, turn it around and shake. Everything that falls out is covered under home contents insurance.

Portable Possessions Insurance:

Portable Possessions Insurance usually falls under Home Contents Insurance and covers all your possessions you take with you when you leave the house. This includes your laptop, camera, jewellery, clothing, glasses, handbag and cellphone.

Most insurance companies allow a standard amount for these items and request that you specify items that are of a higher value than stipulated in the policy. You will pay a little more, but your cover will increase regarding items stipulated.

Note: Please note that you should always keep your policy up to date and keep abreast of the replacement value regarding all the above-mentioned items.