To not be wrong, first understand 5 steps to choose Home Insurance

Home insurance is one of the insurance that is important enough to protect your assets. However, have you any idea what steps to choose Home Insurance? This time it will discuss the 5 steps you can take when choosing the right home insurance.

To not be wrong, first understand 5 steps to choose Home Insurance

5 Steps to choosing home insurance

Usually, large premiums are adjusted to the type, time, and the large sum insured agreement that will be given later.

Remember yes, do not forget to pay the premium because if it happens, then the premiums paid in advance will be forfeited and automatically you are not registered anymore on the insurance. 

Always make financial planning in the form of budgets made a month earlier.

Back to the topic, below are 5 ways you can do before choosing home insurance.

#1 Compare multiple insurance options

Every insurance company definitely has a different insurance program.

One of the many advantages of this different insurance product is that you have a lot of options and can choose the best insurance for yourself.

To be able to choose the best insurance, the first step you have to do is to compare some insurance products.

Some examples of factors you can compare are:
  • Insurance premiums.
  • Insurance coverage.
  • The credibility of insurance companies, and others.

You can do a manual comparison, which is to ask an insurance agent by adjusting the benefits you need and the premium you can afford to pay.

Secondly, you can also do comparisons through online sites.

Online sites can save you time and expense when doing comparisons.

You can also compare directly the losses and profits of each insurance product.

#2 Risk incurred

The wider the risks borne by an insurance product, the higher the premium should be paid.

However, this risk coverage will be the effective key for your policy.

Some of the risks that are usually borne by home insurance are:

Risk of fire.
  • Risk of damage from riots, strikes, evil deeds, and Hurthara.
  • Risk of water damage, floods, cyclone angina, and storms.
  • Risk of tsunami damage, earthquakes, and volcanic eruptions.
  • Risks of damage caused by landslides and land movements.

Not that you should choose insurance that protects your property from all of the above risks.

However, you should choose the right protection. Proper protection is assessed against protected risks and the possibility of such risks occurs.

For example, your home is located in a flood prone area, certainly a proper action to protect your home from the risk of being flooded.

By knowing the common character around the property location, you can choose a home insurance policy accordingly.

#3 Select appropriate insurance coverage

One of the uses of insurance is to minimize losses that occur when the risk occurs in your home.

If the sum insured is too little then it will leave you a loss.

If the sum insured is excessive, then you should bear a high premium payment burden.

Therefore, it is important to determine the sum insured based on the exact value of the property.

In addition to the sum insured, the right insurance object is also a very important consideration.

There is a house insurance that only provides coverage on the building only, content and the coverage of the building and contents.

For example, if you love collecting expensive antiques, it's the right thing to also insure the contents of the building.

Besides the house, usually the factory also has an important inventory so that the complete coverage with the contents is the right choice.

Then, keep in mind that the home insurance policy does not only compensate for the damage incurred, but also post-disaster recovery such as reshuffle or home renovation after the disaster.

Coverage is given for example renovation costs, debris cleaning costs and repair costs.

You should also ensure that the insurance policy also provides post-disaster coverage as mentioned.

#4 Know the claim process

When the risk occurs, the first thing to do is to make a claim for the loss.

The process of filing a claim for each insurance company is different.

Good home insurance, has a practical claims process, easy and has a high acceptance rate.

To find the insurance, start by searching for information on the claim procedure.

Submission of claims that can be done online or over the phone, will certainly be easier than if you have to visit an insurance company.

One of the tips for speeding up the filing process is to ensure that you own and have stored all documents relating to your home such as land certificates, the UN as well as other documents required during the claim process.

Your claim may also be rejected if there are facts about your home that you have hidden, such as damage that was ever.

In addition, if you exceed or intentionally declare a national value incorrectly, your claim may be rejected.

In addition to filing claims, you can also search for information about the ratio of claims settlement by the insurance company.

To be aware, you can browse online forums.

#5 Read the policy carefully

After you have done the above 4 steps, the last stage is to read the policy carefully.

The insurance policy is a written agreement between you as a party insured with an insurance company as the insurer.

If there are errors in the policy, you will be difficult to file a claim in the future.

In addition, it is also important for you or your family members to fill out your own home insurance application form to avoid mistakes.

The things you need to pay attention to when reread the policy are:
  • Name and identity number.
  • The location of the property (address) is appropriate and correctly mentioned in the policy.
  • Risk Borne.
  • Amount of premium to be paid.
  • Terms and conditions of coverage.

By carefully reading the insurance policy, you can clearly know what rights you get and what obligations you have to fulfill.

Understanding the policy can also help the claim to run without any disputes.

Maximize insurance benefits with above steps
In addition to helping you choose insurance properly, the above 5 steps can help you to better understand the insurance policy.

This will help to maximize the benefits of the insurance.

Remember yes, any risk can happen anytime, anywhere, and to anyone.

For that, the sooner you choose to protect yourself from those risks, the lower the risk of losses you will feel.

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