4 reasons you should get home insurance

4 reasons you should get home insurance

Your home isn’t just a house. It’s a precious asset that took years of hard work and savings to achieve. Since you’ve toiled to create a comfortable home, getting the right protection would be extra worthwhile, especially in the scenarios below.

1) You live in an area with frequent floods and tremors

Living in an area with constant natural disasters such as fire, typhoon, flooding or landslip puts your home at risk of serious damage. For instance, staying in a landed property may also make your home extra susceptible to flooding. Cracks in your ceiling, roof and walls, left untreated, could also fuel severe damage during a flood that can prove costly to fix. As natural disasters are unpredictable, you can stay prepared by getting home insurance.

2) You live with young children and the elderly

Falls are one of the most common home accidents that happen with children and the elderly. Other than installing anti-slip mats at home, you can further protect your family by getting home insurance. Some home insurance plans provide optional cover for your personal accident expenses from home-related injuries. This would be a huge relief in the event you are faced with unexpectedly high medical costs.

3) Your house contains valuables

Whether you collect branded handbags or own the latest electronic gadget, home insurance comes in handy to cover these expensive home contents. In the event that your home is ransacked by burglars or a lightning strike wipes out your electronics, home insurance will cover the cost to replace or repair them. Note that there’s a limit for each item, so consider purchasing more insurance coverage if you own expensive jewellery and electronics.

4) You’re renting out your home

Getting the right home insurance is more crucial. Landlord insurance can protect you with liability coverage during home rental. As a landlord, you could be held accountable for any injuries your tenants incur when living in your home. The right home insurance plan would help you to cover your tenant’s medical costs when this happens. It would also help to cover your loss of rent if your tenant fails to pay the rent.

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