With everything that is happening nowadays, home insurance is considered a necessity. It is always good to be prepared. However, there are some people out there that still do not see the great benefits of having a home insurance policy. This article is dedicated to showing you just that and more. But before we do that, let us look into what home insurance is all about.
Home insurance is basically a safety net that would catch you in times of disasters. Let me create an image for you. Let us say a disaster struck from out of nowhere. Your home was destroyed. Nothing left. And you do not have a home insurance. Do you have R3 000,000 stashed somewhere just for the specific purpose of rebuilding your home? If you do, then good for you. But what about those people who don’t?
Home insurance is made up of different kinds of policies and each policy has a series of coverage plans that you could choose from. It is actually very convenient since there are different types of policies out there that could suit the different kinds of homes each of us has. There are policies for permanent and owned homes, rented homes, flats and apartments, old homes and mobile homes. Plus, you can customize your coverage, choosing whether to have your belongings covered or not.
There are 6 types of coverage: dwelling, personal belongings, personal liability, other structures, loss of use and medical payments. Now you could choose to have everything included in your policy, or maybe just one or two. It all depends on you and what you perceive needs protection.
There are some might want to choose to just have their main house covered but not the other structures around it, like the garage. In the cases of other people that have priceless works of art, expensive jewellery and others, they might want to invest in a coverage plan that protects not only their homes, but also their belongings. There is also another type of coverage that would protect you from lawsuits stemming from injuries incurred in your premises. This is what you call the personal liability coverage.
I could go on and on with regards to home insurance policies and coverage, but as promised, I will outline some of the reasons why you should invest in a good home insurance plan.
Why Investing in Home Insurance is Good for You
- Your home, your biggest investment, is protected.
- If you know your way around insurance policies, you could get a good plan with a low monthly premium.
- You no longer have to worry about the condition of your home since there is a policy that would catch you in times of trouble.
- As mentioned earlier, there is a loss of use coverage. This coverage prevents you from being homeless while your house is being rebuilt. It will cover a portion of your expenses while you put up temporary residency in one of the local hotels or motels. Such expenses would be your hotel bills, food, restaurants, etc.
- Theft or destruction of your valuable items would be replaced.
Benefits of having house insurance when you have a music station
Basing on those mentioned above, don’t you think getting the best short term home insurance cover for your home is greatly beneficial? You do not have to shell out big bucks for the most expensive policy out there. You could just get the most basic of you want. What is important is that your home and belongings are protected. Don’t you agree?