It is possibly the biggest investment you have ever made in your life and it falls upon you to protect this asset in the most responsible manner.
It is not just the structure of the house, but also the property and the personal items inside the house and property that are of value and need to be protected.
Fire, theft and natural calamities can cause great damage to the house and property and the valuables inside.
You need a home insurance policy to protect you from financial losses in the event of such unforeseen disasters that cause you financial loss.
Several insurance companies offer home insurance covers and depending on the type of house you have and the financial requirement, the coverage offered also differs.
Even if you are living in a rented house, some insurance companies offer you coverage for the contents inside the house.
To get a good home insurance cover, all you need to do is get on to the internet and browse the different websites that offer home insurance.
Shop around for the best price and cover before you make the decision.
A home insurance policy works pretty much like any other policy.
You pay a certain premium on a monthly basis and you get covered for the standard events and also some riders that you may opt for.
The amount of premium that you pay will be decided by several factors such as the age of the house, the kind of building material that was used in construction, the area of the house, the number of rooms, type of heating system installed, the distance from the fire station and also the number of people who live in the house.
If you live in an area that is prone to bush fire, flood or other calamities, these events cease to be unforeseen incidents anymore and some insurance companies may not cover you.
Specialized insurance companies covering these kinds of eventualities may also charge a higher premium.
It is worthwhile to opt for a cover in spite of the high premium.
When you purchase your insurance cover, make sure that the events that you need to be covered for are included in the policy.
For example you may have some valuable jewelry that you keep in the house.
You may want to check with the insurer up to what value the jewelry is covered for theft in the standard policy.
If the coverage is not sufficient for you, most insurance companies give you the option of additional cover by paying a small extra premium.
If you have specific jewelry, you may even list it with the insurer and keep the receipts of purchase if you have any so that in case it gets stolen you are compensated without much ado.
If you live in a rented house you will have to opt for a separate policy that covers your personal assets that are in the house.
The landlord my have a home insurance taken out that will cover damage to the structure of the house, but that insurance will not cover loss or damage to the contents inside.
The contents are yours and it is up to you to take out a separate insurance for that.
If you live in a rented house it is also advisable to have a liability cover included.