Eight House Insurance Suggestions For New Owners – The Bharat Specific Information

Congratulations! You bought your first home.

While this is an exciting time for a couple or an individual when it comes to the big step in buying their first home, Direct dialing assures you that buying home insurance should be the easiest part.

The leading full insurance company has put together these important tips on home insurance so that you get the right insurance coverage.

This is how you get the most out of your home insurance

These tips will help you get the most out of your insurance when you need to insure a home.

1. Familiarize yourself with the home insurance that you are buying

There are different types of home contents insurance, which differ slightly as they are often tailored to each insured person.

It is therefore important that you know what is covered before purchasing home insurance.

If you already have home insurance but are not sure what is covered by the policy, we strongly recommend that you contact your insurer to discuss the details.

2. Home insurance vs home insurance

Home insurance is divided into two different plans: indoor insurance, known as home insurance, and outdoor insurance, known as home insurance. Let's break these concepts down in a little more detail.

  • Household contents insurance covers you for items for which you have received an offer and which are listed as valuables by you as the policyholder. All items that you can realistically and document can be noted in your insurance policy and that can be furniture, electronics, clothing or kitchen appliances.
  • building insurance protects the load-bearing building itself against damage such as adverse weather conditions or accidents. This includes the windows, doors, walls, and roof, which are all part of the structure of your home, as well as your garage and the buildings around your property. Blueprints and documentation are useful for quotation purposes, so Dialdirect recommends that you have them on hand.

3. Have your home appraised regularly

Most homeowners keep their property for many years, so it makes sense that it should be valued regularly as it will appreciate in value over time due to inflation. Contact your insurer to verify that your home insurance rating and premiums are correct. Dialdirect suggests doing this every year.

4. Note the exclusions and limitations

Don't expect unpleasant surprises. Every home insurance has exclusions. For example, some insurance companies do not cover certain types of water damage. If so, you should consider purchasing extended replacement cost coverage for certain items in your home.

5. Consider investing in home security

Insurance companies often perform risk assessments based on crime statistics before increasing their home insurance premiums. You can cushion these increases by improving the security of your home. Consider installing security cameras, electric fences, or the latest in intrusion alarm systems. You can even use the services of a private security company.

6. Stay tuned and review your policy

Have you made any changes to your home? Maybe you've redesigned the kitchen or added an extra bathroom? If you have invested in your property, you will need to top up your policy to avoid being underinsured. Contact your insurer and keep them informed of these developments so that they can reassess your insurance accordingly.

7. Be smart – do your homework

Keep records. It's the smart one. This will help you if you ever need to make an insurance claim. Document your offers, receipts and contracts. Dialdirect recommends that you keep an inventory of all assets in your home and update them regularly. There are even apps out there that you can use to digitally save them if you don't like too much paperwork.

8. Stay with the same insurer

For example, bundling home and auto insurance will save you money. Try to keep your entire portfolio with one insurer as this will allow you to benefit from lower premiums on various insurance products in the short term.

Find out more about home insurance

Dialdirect is a leading insurer, offering some of the best home insurance in South Africa for current and new homeowners.

The brand offers a range of home insurance policies for home and building insurance.

Request an online quote to start your home contents insurance quote process.

Sources: TBEN Business, Bankrate, Investopedia, TechHive

Disclaimer: Dialdirect is an approved FSP and property insurer. Online conditions

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