Secure the Right House Insurance Coverage

Secure the Right House Insurance Coverage

As a homeowner, you know how important it is to secure your house against unexpected events like fire and flooding or even earthquakes.  With erratic weather conditions like extreme heat or too much rain, potential damages to your home should be considered seriously.

House insurance covers unexpected events such as natural disasters, accidents and even robbery. However, securing the right insurance package requires careful evaluation and assessment.

We've rounded up tips on how to choose your house insurance.  And took the added step of linking to a step by step guide on how to compute the right coverage. Here goes:

1. Assess Your Needs:

Before signing up on the first proposal your agent presents, assess your home’s value, location, and contents first. Evaluate potential risks such as weather hazards that make you prone because of the location of your property. Think about the replacement cost of your home and its contents in case of a fire or a bad storm. These factors are important in determining the level of coverage you require.

2. Understand Coverage Types:

House insurance typically offers different types of coverages, including:

a. Property Damage - protects the structure of your home against damages from covered perils like fire, lightning or explosion.

b. Home Contents/Personal Property Damage - covers the belongings inside your home, such as furniture, appliances, and electronics that can be potentially damaged when a fire breaks or when theft occurs.

c. Liability Coverage - protects you financially if someone is injured on your property such as when your dog bites or when a visitor slips and needs medical attention.

d. Robbery, Burglary and Malicious Damages - even with the best security mechanisms in place, no one can protect against being targeted for robbery and burglarly or being the object of malicious damages.  Having this benefit in your House Insurance policy assures you that when they do happen, you have the means to recover your losses.

e. Broad Water Damages, Bursting Pipes and Overflowing Tanks - when accidents result in water damages, your home and its contents may sustain damages needing repair or replacement.  This coverage takes care of those incidents.

f. Alternative Accommodations coverage - when your home in need of repair is uninhabitable, you may need to rent. This coverage takes care of the extra expenses needed for rentals.

g. Family Personal Accident Insurance - this covers you and your family, including household help against accidents, as well as the disability or death that may happen inside your home.

3. Customize Your Policy:

Not all packages are the same so make sure you choose the coverage important for you.  Consider adding endorsements or riders for additional coverage, such as those for flooding and earthquakes. Tailoring your policy ensures you’re adequately protected against potential risks unique to your circumstances.

Not sure how much policy coverage you need? Read the guide "Is Your Home Adequately Insured?"

4. Research Insurance Providers:

Explore different insurance providers and compare their coverage options, premiums, deductibles, and customer service reputation. Seek recommendations from friends, family, or online reviews. A reputable insurer with a history of prompt claims processing and good customer support is essential for a smooth insurance experience.  Make sure to check out Standard Insurance at for their House Protect coverage.

5. Review Policy Limits and Deductibles:

Adequate policy limits are essential if you want to be fully covered.  Check out the policy deductibles to make sure everything aligns with your financial capabilities and coverage requirements. While higher deductibles can lower your premiums, make sure you can afford to pay them in case of a claim. Similarly, ensure that policy limits adequately cover the replacement cost of your home and belongings.

6. Maintain Accurate Documentation:

Once you have taken out an insurance coverage, make sure to keep detailed records of your home’s inventory, including photographs, receipts, and appraisals of valuable items. Scan your house blueprint and store it in the cloud.  Do the same for your building permit and other important documents that may be needed when you need to file a claim. This documentation will expedite the claims process and ensure you receive proper compensation for damaged or stolen property.

7. Understand Your Policy Exclusions and Limitations:

Familiarize yourself with policy exclusions and limitations to avoid surprises during the claims process.

Securing proper house insurance is vital for safeguarding your home and its contents. By assessing your needs, understanding coverage types, researching providers, and customizing your policy, you can ensure comprehensive protection tailored to your circumstances. Regularly review and update your policy to adapt to changes like the addition of a room or the installation of solar system.  Make sure you maintain adequate coverage by regularly updating it to align with the current building costs. With the right approach, you can confidently protect your most valuable asset – your home.