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Understanding property insurance

With a great address, comes great responsibility – so doesn’t it make sense that you have great insurance too? Here is everything you need to know about homeowner’s insurance:

What do you get?

How does peace of mind sound? Knowing that your biggest investment is protected by an insurance policy does help you sleep a little bit better at night.

  • Your property insurance will cover you in the event of a natural disaster, so hail damage doesn’t have to worry you anymore.
  • Damage caused by water is also under your policy. For those unsettling times when you have bursting or overflowing water tanks or pipes.
  • Your homeowners’ cover means that accidental damage – like a drunk driver smashing through your garden wall – doesn’t leave you out of pocket.

What isn’t covered?

Here is what property insurance policies don’t cover, and why:

  • Gradual deterioration of your property isn’t covered either, so make sure that you do regular maintenance, like cleaning the gutters and replacing broken roof tiles.
  • The same applies when your pets chew or soil your brand new, wall-to-wall carpets.

Extra benefits

No one wants to think about what happens when you have to claim, but it does help knowing that your property insurance can come with a few added extras:

  • Like, having a security guard on site following a loss or damage to your property by an insured event.
  • If you need locks and keys replaced or changed entirely, then you can call on your insurer following an insured peril (a break-in). This can’t be done when the in-laws come to visit though.

 

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