You've finally made it!
You've waited a long time for this moment. You've sacrificed, saved, budgeted, and worked hard for it... but now you've managed to achieve the ultimate purchase: your new home!
There is a tremendous satisfaction in having your own home, because you can do what you want with your property. You can paint it in pink polka dots, tear down walls, have pets, build a swimming pool, put a drive-through in your kitchen... you name it.
You are the boss, this is YOUR crib, and you are king of the castle. This is THE home of the Whopper, and you will have it your way... after all, you paid for it!
But wouldn't it be disastrous if something were to happen to your prized home, that you worked for so hard and so long to buy? In some literal cases, you could see your home go up in smoke, and lose everything.
That is why home insurance is not just an option - it's an absolute necessity!
When shopping for the best home insurance, there are some fundamental considerations you will want to make. Most times, it will come down to exactly what you want to insure, and for how much. You will probably start with some form of home insurance on the structural elements of the property itself, but there are many supplementary and auxiliary options you may want to decide to incorporate into your home insurance quote.
One of these is insurance against natural calamity, and some home insurance companies will not be keen to stipulate a home insurance policy with you, if you ask for such a clause. The reason for this is simple, and it is due to the fact that natural calamity can come at any time, without warning.
There is no way to carry out a feasible assessment of the risk involved for the home insurance company, and this is something which can be costly for the insurer.
And this is because a natural calamity can quite easily wipe out everything you have insured. A tornado, a wild fire, a tsunami, an earthquake... they can literally leave you with nothing left. Typically, the costs to insure your home against natural calamity will be quite high. Although no monetary disbursal can compensate for the loss of prized possessions such as unique items, pictures, etc., with a natural calamity insurance policy you will at least you will get something out of it for your loss.
But expect to pay substantially for such coverage!
Another convenient insurance is a liability of injury insurance. It's a sad truth that some people will take advantage of anything, if there's a lump sum of money to be made form it. In the event someone should slip and fall in your house, injuring themselves, you will be usually more than safe with a liability of injury insurance policy, should they want to sue you for injuries.
It is also commonplace to insure the contents of the property against theft or vandalism. Although purchasing your items with a credit card will often entitle you to some form of consumer protection, it's generally a short-lived benefit. Ten years down the road, if someone breaks into your house and slashes your prized Italian leather sofa, or steals your Playstation, don't call your Mastercard rep for help - pray that you've ensured the contents of your home!
Be aware that in most cases, there is a limit to how much an insurance company will pay out on a claim. But this can often be negotiated to higher limits, depending on how much you are willing to invest financially in the insurance policy. You just need to ask the questions, and establish these specific points clearly during the course of stipulation for your home insurance quote.
Home insurance is a very important thing to have, always. It should be the second thing you do, after putting your "Home Sweet Home" welcome mat outside the door. Because of the value of what you are ensuring, and the incognito of anything happening at any time, your home insurance quote can vary sensibly. But it's smart to stipulate as comprehensive a situational coverage policy as your home insurance provider will offer, and insure as much of your property and its contents as your finances permit.
For a review of the best rated home insurance providers, please visit Credit Deal.
Joshua Harris is a free-lance writer, author, copywriter, and long-time online marketer. A former military officer, Joshua pursued a rewarding management career in the hospitality, then retail industries. After clashing with the inflexible mentality of the corporate world, he went his own way, launching a series of successful entrepreneurial ventures in the hospitality and catering sector. He eventually sold all his profitable businesses, and turned to the Internet for what he calls "a multi-full time income, for a mini-part time effort". After many years spent living between Italy, London, and Ireland, Joshua setup his base of operation in the sunny Algarve, in South Portugal, where he lives with his partner of 15 years, Tiziana, and his 5 year old son, Milton Alexandre. When not in Portugal, he divides his time between London (his second home), and Naples, Italy (where he was born and raised). Fluent in 5 European languages, Joshua writes on a variety of topics, one of them finance and credit at Credit Deal. |