So, you think with the latest family health insurance, you have safeguarded your family from accidents and various types of diseases that may come their way. You have also got an insurance for your car and also the valuable assets in your house. Well, kudos to you, but have you taken an insurance for the house you live in? This is something that often slips everyone’s mind because most people are not aware that they can also insure their house.
It takes years to save and buy a house of your dreams. So, why not take the extra initiative and make sure it is properly secured in every way. By security, it doesn’t mean top-notch security guards or latest locks to protect the house. Insurance coverage for your house can be important in so many ways that you won’t even be able to finish counting. Here are some of those reasons why getting home & house insurance PLC can do only good for your house:
Coverage against all sorts of calamities
You never know when there would be a natural calamity like earthquakes or typhoons or floods or lighting and they can cause serious damage to your house. Not only natural calamities, there are man-made calamities too that can damage your house to a great extent. Thefts, vandalism, riots, strikes or event terrorist activities can get the better of your house. This calls for immediate repairs and that would be so expensive that you can’t even imagine.
When you got an insurance coverage for your house, you can relax even if there is a bigger problem involved than the above. All these calamities will be included in your insurance and you will get the money to rebuild your home or full coverage for the repair work.
Temporary living expenses are covered
This is one of the biggest advantages of getting home & house insurance PLC. Suppose your house has been damaged due to some reason and you have to temporarily vacate the house and live somewhere else while the renovation is going on. The expenses you have to bear as rent while you stay in a different place will be covered by the insurance company. Until your house is completely renovated and it is in a livable condition again, you will not have to pay for the new house rent.
The amount of money that is covered by this kind of insurance is decided at the time of taking the policy. If you think there will are chances of such a thing happening, you can get the policy that suits your needs. Ideally, it would be best if you can get a policy that covers at least a part of the rent for temporary purposes.
House insurance policies also offer liability coverage. This means you will be protected against property damage, personal injuries and also third-party damages that might have happened while they were staying in the house. Liability coverage is basically a risk protector. There are times when a house gets damaged because of some mistake by the residents living in it. In such cases, there can be legal issues that can turn out to be really costly.
To ensure that you are protected against such legal problems, the house insurance has a clause that can be activated when you are taking the policy. You should read the documents of home & house insurance PLC before signing. If there is any point or terms that you are not able to understand in regards to liability coverage, you can contact the customer service of the respective insurance company.
Coverage for personal belongings
Protecting personal assets is okay, but getting it under insurance coverage is the wisest thing to do. And, when you have home & house insurance PLC that can cover both your house and the personal belongings that are in it, you have lesser things to worry about. Most home insurance policies come with a coverage policy of protecting the valuable assets in the house. It can be the legal documents of the house, furniture, appliances or jewelry.
It all depends on which policy you are choosing while taking the insurance. There are various coverage policies that you can opt for, but the premium amounts will increase accordingly. You can go for the basic coverage policy that will only cover the house and not the temporary rents and other additional facilities. But, if you search carefully, there are insurance companies that offer combo packages where all the facilities are offered at a pocket-friendly premium amount.
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Easier to apply for home loans
If you are planning to build a home in some other part of the town and need a home loan for that, your process will be much quicker if you have insurance coverage for the current home. Many loan providers want to make sure that the loan requestor is aware of the importance of a house and that is how the loan acceptance is decided.
Not only for getting a home loan, there have been cases where homeowners had a mortgage for their present home and wanted to apply for a loan. The loan provider often asks for home insurance papers to make sure that the person is reliable enough for the loan amount. If you do not have an insurance coverage for your house, the loan provider will allow you to get an insurance for the house but will charge extra for that.
Having a beautiful home is like a dream come true for many. But, to protect it wholeheartedly is your responsibility. It is not a herculean task to protect a house. With a fit-to-all insurance policy, you can make sure that your house is in safe hands. Be it the flood or earthquake or fire or anything else, no one can damage the house in any way. Even if they do, you will be in a position to get a new house with the help of the coverage against those unforeseen events that have taken place.