How to pick the right home insurance

Your home

The type, size, and facilities of your home will have a direct effect on your insurance policy and premiums. If you own your home, you’ve most likely had it insured from the day you became a homeowner. Most financial institutions and bond originators will insist that you take out comprehensive household insurance and life insurance policies. It’s always, however, a good idea to compare your current package and coverage with any competing, or similar, products.

You rent

Renting your home can be a little easier on the insurance front, as you generally don’t need to insure the house or apartment; that’s usually covered by your landlord. But, that doesn’t mean you can skip selecting insurance. Instead, you should look for a comprehensive package that covers your household contents.

Cover me for everything

An all-in-one insurance policy may seem cheaper from the outset, but it may not cover you as well as you need it to. The convenience of a single insurance policy that covers your car, home, household contents and personal effects, like your handbag and those snazzy sunglasses, might seem great, but do your homework.

Read the fine print

Your home insurance policy should cover you as much as possible and it’s never a bad idea to check every term and condition. Most home and building insurance policies will cover you for most instances, but there may be specific exclusions. Don’t just sign that household contents insurance policy. Read the fine print carefully and make sure you’re covered for everything. Most insurance policies that relate to personal possessions will ask for a specified list of the items to be covered. Don’t forget to send that to your insurer before you sign on the dotted line.

• Information supplied by Private Property.

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