insure-home

Want peace of mind? Insure your home

Fire, theft and vandalism are some of the common calamities that affect people almost everyday. In some parts of the country, lightning and landslides destroy houses. Most of us wrongly think this is bad luck that only affects some people. Anybody can be affected. You therefore need to insure your property so that you don’t suffer total loss should it be destroyed.

Just like personal insurance, home insurance gives you the freedom to enjoy life without fear of uncertainty and give you peace of mind. In case of fire, theft or vandalism, the insurance company compensates you for the loss so that you are able to reinstate your home. An insurance policy also secures your financial security given that a home can be a supplementary source of income the only form of income in some cases.
Determining the premium to be paid
The type of building material used: This, in many cases, is applied to policies against fire. Buildings made of combustible materials will attract a higher premium. On the other hand, houses made of fire-resistant materials can easily earn a discount rate.
A house whose fittings and fixtures are imported will also attract a higher premium than those a house made of locally available material.
Neighbourhood: Homes in risk-prone areas attract higher premiums than those located in safer neighbourhoods. Other factors include the cost of building in the area and accessibility to a fire station and other vital social amenities.

Replacement cost: One factor that makes a difference in the cost of your home insurance is the size and composition of your home. The bigger the home, the higher the premium. Personal insurance: It is important to get a personal cover, especially when purchasing a home through a mortgage. It is advisable to take a personal cover against the cost of your house for this will make it easy for your family to cope with debts and loans in the eventuality of death. This, though, is expensive, especially when working in a hazardous environment or have a terminal disease.
Insurance companies also consider other security items in your home such as security and fire alarms, as well as proximity to external fire hazards.
To benefit fully from home insurance cover, ensure your coverage is for full replacement, which is the full cost of rebuilding or repairing the house. This can easily be achieved by consulting an insurance agent who will provide you with estimations of construction in your area. You can also seek the assistance of a certified and experienced valuer.
Home insurance comes in different forms: There is a policy for building, and this covers the structure of the building that includes the roof, walls, kitchen, bedroom and the windows. This policy insures your building against fire, storm and theft among others. We also have content insurance policy. This form ensures important valuables are covered.
Your laptop, computer, television set, mobile phones and expensive jewellery are covered under this policy. Finding the best deal for your money in terms of which company to insure your home with be can tiresome. The following points can assist you in determining the best company:
Read more at: http://www.standardmedia.co.ke/lifestyle/article/2000188035/want-peace-of-mind-insure-your-home

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