Properties are not exemption to any tragedies or accidents. Natural calamities such as earthquake and typhoon or even a quick fire in the neighborhood can cause a huge damage to your home. It’s better to be safe than sorry. Because of this, tons of home insurance are popping out of the market today. From banks to private companies, you’ll never have a short list of choices to choose from.
It’s a must to also invest in a home insurance. Home insurances can help you protect your home from any sort of disaster that may happen. Every cent that you put in your home may disappear in a snap once a disaster strikes. Home insurance can protect your finances and ensures that you can rebuild your properties in no time.
There are many different types of home insurance and they all vary in the kind of coverage that they offer. Below are some of them:
Basic Coverage
The basic coverage includes the house and your belongings such as your furniture, etc. The policy may help in reconstructing damages caused by lightning or fire. It will pay the cost of rebuilding based on the present costs.
Extended coverage
Extended coverage pertains to home insurances that can cover in case of damages from earthquake, typhoons, fire, lightning, tidal waves, landslides, flood, to explosions.
Some covers legal matters in case you need to file a lawsuit to someone. This is called Comprehensive Personal Liability, wherein the insurance protects you from third parties who damaged your property. There are also home insurances that cover hospital bills in case someone gets hurt during a fire or a typhoon. Others offer relocation allowance, rental income protection and so on.
How to choose a good home insurance?
There are tons of companies out there who offer home insurances. But how will you know that you’re getting the best one?
- Check out the company’s rating – Do your homework. Research about the company’s background and the reviews they get from clients so that you will have an idea on what kind of company they are.
- Check for complaints – Also read the complaints that the others have written about the company. You might get a scammer in the end if you’re not going to be rigorous.
- The longer the years the better – The older the company is the better. It means that people trust them enough to last that long.
- Seek assistance – Find an insurance policy assistant that may help you figure out which type of home insurance you will need.
How much does home insurance cost?
Not many are aware that home insurance is quite cheap. You can pay P2,000 for a P1 million property. The cost of home insurance varies based on the coverage that you choose.
Is getting a home insurance really worth it?
Of course. Protecting your home from any sorts of disaster is always a priority. Your home is not only the one that’s at stake during perilous times; your finances too. Save yourself from all the heartbreak and sleep soundly at night by getting a good home insurance.
Image source: http://www.persquare.com.ph/for-sale/house-lot-ncr-metro-manila-pasay/house-lot-for-sale-in-pasay-city_1720a0851ac697d85356e71f14bd5431d717ef3 – Raymond Flores
