Home Insurance FAQ

The insurance policy is a contract between a homeowner (or other policyholder) and the insurance company. This contract has significant influence on your financial well being. Having home insurance coverage is meant to minimize the potential of financial loss incurred by homeowners in unfortunate events such as property damage, break-ins, and the like.

If you get proper coverage from a reputable company then you should be protected. This is, of course, not as simple as just that, and there is a lot to know about it before you buy insurance for your property. In this page we have brought together some of the most frequently asked and most important questions you will probably also want to know the answers to.

1. What kind of policy do I need?

For this you need to assess your housing situation. Your insurance policy should be in proportion to the value of your property. If you own a beautiful home in a lucrative area, consider if the risk of burglary or vandalism is possibly higher than usual. If you own a new but modest house then comprehensive insurance would be an appropriate choice, especially while you're repaying your mortgage. A condo that needs repairs might warrant no more than minimal insurance. It depends. Assess it correctly and consult an agent or broker.

2. How can I reduce my premium payment size?

Here are a few easy fixes to this: A centrally-monitored alarm system will help a great deal. A protected place is easier to cover. In addition, take lots of preventive measures to lower the number of claims you make. It won’t reduce the premiums right away, but will definitely prevent it from rising. Buying insurance for your car and real estate with the same company will get you a better deal too. And making sure no one in your household smokes is an asset. The damage smoking does to walls is something that insurance companies don’t want to deal with.

3. Should I regularly update my insurance policy and why?

Yes, definitely. You will do well for yourself to adjust your home insurance policy to any change in your life and property. This will keep you covered without overpayin unnecessarily.

There is more of course, so follow this page for updates or simply call us now and get professional advice from our home insurance advisors!