Owning your own home is probably at the top of your priorities list and is a major achievement for many. It is tangible proof and testament to your hard work. But unwanted natural disasters and man-made threats can pose a huge threat to the security of our home and its belongings, and more often than not, these things are beyond our control.
What IS within our control though, is the level of protection we can offer. Cue the Homeowner’s Policy. These policies are designed to protect homeowners against damage and losses that affect their property and belongings and if usually divided into two categories:
- Building Insurance – This is for the structure of your home. The compensation under this cover will be paid to repair damages to the structure caused by specified natural and man-made calamities.
- Home Contents Cover – This is for the possessions you have inside your home. If these are damaged or burgled, then the insurance covers the loss you incur.
The cost of replacing your belongings or damages done to the brick and mortar of your home can be very costly. A Homeowner’s Policy makes sure you don’t have to pay for the same items, twice.