If you’ve just bought a house, you’ll need to take out homeowners insurance. Here are a few things to consider with regard to the cover you’ll need.02 May 2016
If you’ve just bought a house, you’ll need to take out homeowners insurance. Here are a few things to consider with regard to the cover you’ll need.
A homeowners insurance policy will normally cover you for losses or damage that occur as a result of theft, fire, flooding or other natural disasters.
This is a fairly broad description, however, and it is important that you familiarise yourself with the specific details of your homeowners insurance policy, as not all policies are created equal.
For instance, one of the most common causes of building damage is a burst or otherwise faulty geyser, especially in the winter months. You’ll want to ensure that your cover includes such eventualities, and that you know what maintenance is required of you in order for such cover to remain in place.
Another important aspect of homeowners insurance is cover against fire. Particularly in the winter months, this means you’ll want to make sure that if you have a furnace or fireplace, or that you make use of gas appliances, they meet with the proper safety standards and that events involving these are covered in your policy.
Be sure that you have the recommended number of fire extinguishers installed, and that they, too, are properly maintained and certified at all times.
Proper maintenance and safety precautions in the home not only help to keep your insurance premiums relatively low, but also assist greatly in reducing the likelihood that you’ll ever need to put in a claim.
Finally, keep your insurer updated with regard to any changes and/or additions to your property, in order to be sure that these will also be covered under your homeowners policy, and be sure to find out what additional benefits you’re entitled to, if any.
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