Our home is one of the most important and precious possessions for us. It is thus highly essential that we protect it no matter what the cost. One of the best ways of doing so is by using a house protection plan. There are several financial institutions which provide home protection plans to protect against unforeseen circumstances.
Why You Need Insurance Coverage
A home insurance provides coverage against various disasters such as -
- Natural Disasters
Natural disasters such as cyclones and earthquakes can cause massive damage and cause a drain on your finances. Home insurance is thus highly essential in such a case as it helps in easing the financial burden so incurred.
- Burglary
Despite the best security measures in place, burglaries still take place. It is not possible to guard our house all the time as we have to be away at work or on trips from time to time. Home insurance comes in handy in such cases.
- Fire
A natural occurrence, fire can lead to big accidents and cause huge damages to property. A home insurance policy can help cover the costs incurred in renovating the property after such an incident.
Coverage
An insurance plan including travel insurance covers the following things -
- Money
- Clothes
- Cheques
- Furniture
- Electronic item
- Audio equipment
Checklist When Applying for Insurance
When applying for any insurance, the following aspects need to be considered -
Coverage Duration
In case a trip is covered under insurance, the coverage begins when the insured party leaves the residence for the trip and terminates at the time of return or when the policy expires.
Coverage Conditions
Coverage begins 24 hours before the booked departure time and stops 24 hours after the return time.
Documents Required When Making Claims
- Police report
- Support voucher for lost goods
- Signed and filled claim document
- Bank statement in case of loss of money
Read Also: Things To Consider Before Buying A Home Protection Insurance Policy?
