Tips to ensure your home insurance policy is valid

Your home insurance policy
Your home insurance policy

A home insurance policy is a legal agreement between a householder and an insurance company. It sets out each party’s rights and obligations. Read through the policy wording carefully and make sure you fulfil all the obligations it stipulates so that any claim you may make will be valid.

Also ensure that you understand the different kinds of buildings and contents insurance. Only the owner of a property can buy buildings insurance. A large part of the premium will be affected by factors a householder cannot influence, such as neighbourhood crime statistics or the risk of flood. If you are a tenant, remember that a landlord’s building insurance does not cover your personal possessions.

Locks

Insurance companies in general do not pay a claim for burglary if an intruder can make an unforced entry into a property. This means that you must ensure that all doors and windows are properly locked. It may be tempting to open windows in empty rooms during a hot day, but this is best avoided.

The insurance company may have charged a lower premium in exchange for installing special locks and an alarm system. Make sure that these are accurately described in the policy. Inform the insurance company of any changes you make to the installations. Ensure that all alarm systems are activated even if you are leaving the property for just a short while.

Storage

Do not hide any door keys anywhere outside the house. Leave a spare set with a trusted friend or neighbour. Burglars can always find key-hiding places around a house even if you think that you are being clever. It’s important to remember that a prospective burglar may have been observing your property for some time before attempting a break-in.

Make sure that all expensive garden equipment such as lawnmowers are correctly described on the policy and are securely stored in a garage or shed. Never store ladders, hammers or any other household tools outdoors. Burglars can use these to break into a house.

Building Work

Always inform the insurance company about any major road works, building work or renovation in a neighbouring property. Sometimes these can sever water pipes or other utility conduits, or cause accidental damage to walls, windows or other parts of your home. An insurer who is not notified may not pay out on a claim, but the neighbour or construction firm ought to be liable for any damage. If you are planning your own building work, make sure that the insurer is informed of this. Your premium may rise as a result but at least you will be covered for any accidental damage.

If you try to save money by under-insuring your home, remember that in the event of any damage, the insurer will only pay a percentage of the sum insured. Insurers always stipulate that jewellery and other personal valuables are securely stored. Use a home safe that is recommended by an insurance organisation.

Absence

Home insurance policies may become invalid if the property is unoccupied for a period of 30 days or more. If you are planning to be away for a long period of time, make sure that a friend or family member stays at least one night in your home during any 30-day period of absence.

If your home insurance policy is up for renewal soon, buy your home insurance online at SO Switch.

Tips to ensure your home insurance policy is valid

Tips For Choosing The Right Life Insurance Policy

Right Life Insurance Policy
Right Life Insurance Policy

The uncertainty of the modern life has made it necessary for people to seek cover offered by insurance companies. This is so because the losses occasioned by some of the risks evident in our day to day life are usually heavy to bear and thus the need to seek insurance policy cover. Life insurance policies usually seek to help loved ones bear the loss of a loved one and thus play a significant role in our society at large. However, given the fact that there are different packages of life insurance policies offered by different companies, it is imperative that you be careful when choosing a life insurance policy since not every policy is ideal for you or your family. The following are some tips that will help you get a life insurance policy cover that is ideal for your use.

Your Needs

It is important to keep in mind that not every type of cover is ideal for everyone and that the most important thing to consider when deciding which policy to settle for is your needs. This is important especially when considering the amount of cover to take. You should factor in things like the age of your children, the number of dependants you have, your age, qualifications in the policy and also the amount of money you have to spare for the policy. Any additional benefits attached to the policy that you think will be useful in your particular situation and your needs should also be taken into account.

Reputation Of The Insurance Company

The insurance industry is based on a promise to pay if a particular risk attaches. It is therefore important to take into account the reputation that a particular insurer has before taking an insurance policy with them. This is important especially give the number of cases involving insurance companies not paying or stalling in making the necessary payments.

This will require you to do research on the payment history of companies you are considering to insure with and particular attention should be paid on what clients of the company say of it. Consider factors such as promptness of payment, how fully they honor their claims and even their financial stability. You should choose a company that pays in time and pays the full amount provided all the requirements have been met. It is important to keep away from companies that use frivolous excuses to not pay their clients. Their customer support services should also be taken into consideration.

Premiums and Your Financial Status

While taking out of life insurance policy is important, it should not be done if the resulting effect is to cripple your finances. It is important to keep in mind that an insurance cover is just like any other investment and thus it is important to keep the cover within your budget. You should choose a policy that not only allows for affordable premiums but also one which is flexible and which allows you to change the premium payments depending on your financial position. It is also advisable to shop around for a company that offers reasonable cover at reasonable rates.

Author Bio :
Steve is a part time blogger and works in one of the leading investment bank. He loves to keep himself updated to the finance vertical. You can check his blog on binary options .

Tips For Choosing The Right Life Insurance Policy