Building or buying a house is a costly affair and so is furnishing or equipping a home that you have rented. All of these are excellent investments that should be protected. While taking up home insurance may feel like an expense you could do without, it could be the very thing that saves you money should your house be robbed or fall prey to natural calamities.
What is Home Insurance?
In a nutshell, Home insurance is a plan that offers you compensation in case of loss, damage or liability in your home. Some insurers and insurance firms such as ICEA LION refer to home insurance as a “domestic package”. The word package is used because our home insurance solution offers various smaller covers under one policy to cater for everything in your household. It also offers you protection against loss or damage to the structure and contents of your residence. Such contents include furniture, electronic equipment, valuables, movable items that you wear (like your jewelry) or carry with you (like your mobile phone). It also gives you the option to cover your home employees for injuries sustained or death suffered whilst going about their duties in your home. A good home insurance cover will further take care of you should someone sue you as a result of an incident or accident in your home.
The best part about home insurance is the fact that it is available to you whether are a tenant or an owner of the residence.
Below are a few reasons why getting a home insurance policy should be a priority:
Securing the Physical Structure (Building)
Nobody is immune to calamities. While we all take great care to research about an area before we settle down, there are still incidents – natural or manmade- that we cannot predict. Home Insurance has a section that covers the building structure. This means that in the event your home is damaged through natural or man-made calamities such as arson you get compensated up to the limits of the amount agreed at the onset of the cover. What’s more, if the incident renders your home uninhabitable, you get alternative accommodation
Securing your Belongings
A home doesn’t just comprise the structure – walls, floor, and ceiling; your belongings also characterize it. Oftentimes, these movable items have great sentimental value to the owners. Unfortunately, these belongings could be stolen or get damaged by floods, fire or just malicious human actions. A good home insurance plan has a section for household goods, personal effects, such as valuables, furniture, electronics, fixtures and fittings.
Safety Net in Case of Other Incidents at Home
One can’t always anticipate what sort of mishaps could take place within a home. Guests or visitors may be injured while they’re in your home. Employees in your home such as house helps or gardeners may also sustain injuries or in certain unfortunate situations pass away. These events can result in lawsuits against you and great emotional and financial losses. A home insurance plan takes this responsibility off your shoulders.
Top Home Insurance Tip:
To ensure that you get the right compensation, it is always important to disclose the true value of your home or belongings to the insurer. It is also good practice to value your possessions annually before renewing your cover. A home insurance cover is an annual cover that you pay an amount ( Premium) for a period of one year in exchange for compensation.
Your home is your haven, take every precaution to ensure that you can always be restored should the unexpected happen.
Talk to us about our ICEA LION Home Insurance. Call us on +254 719 071 999 or email us at firstname.lastname@example.org.