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Why home Insurance?
Your home is probably your largest financial investment. But not all home insurance policies are the same. In addition to covering the physical structures and your possessions, you may have many questions about what’s covered and what’s not.
i.e. If a tree falls on your house, are you covered? If an elderly neighbour slips on your front walkway and breaks his/her hip, are you covered? If a vehicle rams into your house, are you covered? What does replacement value really mean, and how do you estimate it?
Home Insurance also known as Domestic Package protects what is likely your most expensive assets. Your home insurance should therefore give you the confidence to enjoy your lifestyle without worrying about the risks of damage, loss or theft.
It protects you against fire, malicious damage and special perils, loss or damage to household contents, loss or damage to portable items such as jewellery, mobile phones and laptops, liability to compensate domestic servants and personal liabilities to third parties.
It provides protection to the homeowners/tenants against loss or damage to the private dwellings/buildings, household goods and personal personal belongings caused by fire, theft, floods, explosion, lightning and thunderbolt
WHAT YOU NEED TO KNOW
Does Home Insurance cover theft?
Theft of personal belongings is covered under contents section. This coverage helps protect items like electronics, sporting equipment, furniture and all other contents. It also covers your personal items when they are outside of your home, like if your laptop or mobile phone gets stolen from your car or hotel room.
Do I need to adjust my coverage when I renovate or add on to my home?
Possibly. Updates to your home like adding a room, renovating a kitchen or installing a pool may affect the amount of coverage you need. Reach out to us when you’re doing a big project, making a big purchase or on an annual basis to help ensure your policy remains adequate and up to date
Does Home Insurance cover personal injuries?
Home Insurance extends coverage to liability insurance that provides coverage for bodily injury and property damage of others for which you or your family member is legally responsible, including legal defense costs. It also includes medical payments to guests who are accidentally injured on your property. It does not however cover personal injury claims for you or any family members that live with you.
Does Home Insurance cover personal injuries?
Provides indemnity against loss or damage to specified items as a result of any cause within the geographical area specified in the policy. This includes theft, fire, riot and strike, breakage and any other cause not excluded under the policy. The policy provides protection for essential portable assets like laptops, cameras, and other personal items on a worldwide basis.
What’s the ‘estimated replacement cost’ of my house?
The ‘replacement cost’ is the estimated amount of money it would take to rebuild or repair your home at the time of a covered loss. Labor, material and equipment costs specific to your area can all impact the estimated replacement cost.