List your home for insurance should not be a matter for debates. It must be a matter of necessity or we may find ourselves suffering material losses and even facing legal lawsuits from neighbours affected by our misfortunes. Your homes and personal buildings represent a lot of things to you – it represents your family, achievements, future, past and present and must be safeguarded from human and natural accidents that might render them, or your life worthless. Home and property insurance is a must, and you must go for only quality and affordable insurance cover to protect them. But first, what are the importance of home and property insurance policies? Home and property insurance protects your home building and residential structures, and the property and assets they contain from many unforeseen human and natural misfortunes. Some are them are:
- Protects against fire disasters
- Safeguards fixed assets and investment properties
- Protects from natural disasters like floods and hurricane storms
- Vandalism and break-ins
- Structural collapse and loss of lives
What then must you do to obtain a quality and affordable home and property insurance plan? You start by listing out what to insure – personal property, and building structures. With personal property, you go through your house and list out high value assets and properties that you cannot afford to miss for anything, examples are jewelleries, antiques, clothes, academic certificates, furniture and fittings, electronics and other personal assets of high values; and you must also list building items that you cannot afford to get destroyed – examples are pipes and plumbing, tiles and floorings, fixtures and other outbuilding valuables. In fact, in listing your building for insurance, you must work out the full costs of rebuilding your house in the case of total loss. But if you are on mortgage or don’t know the current value of your home, it might be wise to speak to your insurance agent to help calculate this for you.
A thorough listing of items you need covered as property and items you need covered as building structure will determine the kinds of insurance cover plan you need and the typical premiums that apply to you. But you can likely have an inkling of what premium ranges to pay when you visit insurance firms or go online to comparison shopping sites.