Insurance is one of the most important things an individual, family or business can purchase. Having insurance allows you to alleviate the financial burden in case of accident, damage, disability or death. For example, if someone is in a car accident that is their fault, without insurance the responsibility is completely their own to repair damages to their own car and the other driver’s car. Most people simply don’t have that kind of money lying around. Home insurance is quite self-explanatory: insurance for your home. But there are different kinds of home insurance and you should know what is covered in your home insurance policy.
Home insurance will protect your home from natural disaster, damage and loss. Flooding, fires, structural damage and sometimes even replacing items such as bathroom or lighting fixtures is included. Home insurance is extremely important because often damage to a home can cost tens of thousands of rand, sometimes even more, and the financial burden this can create is very difficult for an individual to deal with. Having insurance means that the financial burden will be alleviated in exchange for you paying monthly premiums.
It is important to not that home insurance does not usually cover the items in your home, unless you have it written into your insurance policy. This is called contents insurance. In theory, you can ensure anything you want to if you are willing to pay the monthly premiums. This is why you hear of movie stars and supermodel’s insuring items such as their legs or hair. The most common items included in contents insurance include jewelry, electronics such as laptops, televisions and cameras, antique items or any other items that are expensive or have sentimental value.
Home insurance is generally more important than having contents insurance, as your home is generally much more expensive than the items in it. Many insurance companies offer great deals if you cover your home as well as contents with them, and give you more cost-effective premiums with the more contents you decide to insure.