People insure their homes for the same reasons as they do themselves or their car. It’s because insurance can save you from the financial consequences of any unwanted damage or destruction. Accidents can occur at any time, anywhere, and it’s important that you have your home insured so to better prepare for such events.
Getting home insurance can be beneficial for a variety of other reasons, and in this article, we are going to discuss them.
1. To protect you from natural disasters
Natural disasters such as earthquakes, volcano eruptions, tsunamis, floods, tornados, are all very real in our world, and very much a threat to you, your family, and your home. The Nepal Earthquake, which happened in 2015, left almost 500.000 homes in ruins. By this, you can imagine the financial damage that around 5.6 million people suffered. By having your home insured, you can protect yourself from such natural events.
2. Man-made causes
Our world is not perfect, and people are far from perfect. You can be the victim of man-made risks that can cause a lot of damage to your home. Robberies, theft, burglary, riots, acts of terrorism, and such, can cause potential damage to your home in the thousands of dollars. And while not every insurer offers such protection, you can always inquire about such policies.
3. It doesn’t matter where you live
Whether you live in a house, flat, condo, or even a trailer, you need to have your home insured. Insurance companies, such as Home Insurance Spain, will offer you a protection plan that can even include protection in your leasing contract. Apart from fire and burglaries, services like these can offer AOG protection in the case of you being a renter and not the owner of your home.
4. Everything you own has its own value
Let’s get one thing straight, home insurance covers two things. It covers the construction of your home and the content within your home. If in the case your home gets struck by floods, and your exterior gets damaged in the process, your insurance will cover it. If in the case of a burglar attack, your insurance will cover anything that will get damaged or stolen from your content within. Items of sentimental worth such as inherited jewelry can also be affected by such events. You can read about your insurance policy and protect even the things that are of great worth to you.
5. Protect yourself from others who need protection
An event could occur that affects other people who are staying over your place. There are insurance policies that offer a public liability benefit which will protect you from having to compensate expenses that occur to other people who are affected by such events while being present at your home. You can even ensure other structures that are not your property but are part of your home. Such structure is a garage or a shed and with the right policy, you can ensure and protect from having to compensate if anything happens to these structures.
6. You may need help relocating
Natural disasters often leave people vulnerable and having to relocate due to their homes being rendered uninhabitable. By having your home insured, your insurance will cover and help you financially for you to find a new home.