Your home is your place of safety and happiness, but also possibly the biggest investment of your hard earned money you will ever make! Your safe haven requires protection against various incidents.
Home Insurance is financial protection. You pay a premium for the cover. You might never have to claim against the policy, but in the case of a destructive event it may be the only way to avoid the cost of losing a home.
Policies from different companies differ, but most home insurance policies protect against the most general risk factors such as:
- Fires of any size that could cause structural damage of the building or the contents inside or fixtures to your house.
- Theft of things stolen from your home.
- Vandalism – acts by destructive people such as broken windows or doors, graffiti, or other acts from such people.
- Storm and/or flood damage for damage to your home caused by wind, hail, water, rain and ice.
- Falling objects – protection from falling trees or other items that may fall onto your house and cause damage to the roof or other segments of the structure.
Home Insurance is your Responsibility
It is your responsibility to seek and find the policy that suits your individual needs as well as the need to be covered against specific events that is frequent in the area and neighbourhood where your house is built.
If any of the events that you have cover for, occurs you will simply have to fail a claim with your agent or directly with the Insurance Company. The company will make the funds available to repairs damaged items or replace what was lost.
Your policy provides cover up to amount specified in the policy. Take care to be sure that your Home Insurance coverage is enough to cover the full home value as well as additional coverage that may be needed. Be aware that the value of your house should not include the land value.
This article originally posted on http://insuretodayblog.com/and re-posted here with permission.