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Harvey Goodman Realtor®
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Why is it important to have
Home Insurance?
Your home is one of your most valuable possessions. It contains all of your belongings, memories and comforts. It makes sense then, that ensuring it is fully secure is one of the most important things you can do.
However, we know that despite the best security protection measures that we put in place, there is still the risk of theft, damage and natural disasters occurring that we can never fully eliminate. These things can impact our lives and destroy our homes in more ways than one. To protect your home should any of these issues occur, you’ll need home insurance.
Home insurance is available in two different forms: buildings insurance and contents insurance, or you can opt for a comprehensive plan that will include both. Home insurance offers you a certain amount of cover, which you can use to rebuild your home should disaster strike. All insurance policies are different and you should always carefully check the fine print to make sure you know what you have covered, but in general:
• Look for a policy that will cover you for fire, wind, hail, explosion, smoke damage, and damage that has been caused by criminal activity, such as vandalism.
• Buildings insurance will cover the structure of a property including floors, painted walls, fixtures, and fittings, which are things such as radiators, baths and shower heads.
• Contents insurance will cover all the items within your home: laptops, electrical items, furniture, jewellery, pictures and so on. It can also cover fire and burglary, as well as accidental damage and theft of items when you are away from your home. Some policies will also cover bicycles and mobile phones.
Your home insurance policy documents might not be the most gripping read, but it’s best to check your policy so that you know what’s covered, what’s excluded, and your rights and responsibilities. Like most things, it is best to check anything you are unsure about or do not fully understand from the outset, rather than risking any problems further down the line if you need to file a claim.