It takes a lot of time, resources, effort and money to own a home. Consider using a home contents insurance policy to safeguard your assets against unforeseen events like natural and man-made disasters. Here are some tips to get the right insurance policy for protecting your home contents.
Tip #1 – Understand the Policy Well
Home contents insurance is designed to provide you with a wide range of covers to protect your household contents only when the contents are present inside the premises. Understand the details of the coverage and make sure you are aware of all the exclusions.
Tip#2 – Maximum Sum Insured
Choose a slab that is same as or immediately greater than the actual value of your home contents at risk. If you make new purchases during the policy period, make sure you inform the insurance company to re-evaluate the risk and review your insurance policy.
Tip#3 – Read the Standard and STF Perils
Your policy should be able to provide you a higher sum insured, and cover a diverse range of eventualities. Make sure you read the standard perils and STF perils of the policy before purchasing and also before making a claim.
Tip#4 – Easy Claims Process
Take some time to research about the claims process in case of any eventualities. It is important for an insurer to know how a claim will be accessed in case of any loss or damage incurred to the contents and/or personal belongings due to any of the perils mentioned in the policy document.
Tip#5 – Read the Exclusions Carefully
Every policy comes with a set of exclusions clauses which should be read carefully before purchasing a policy and decide if it fulfils your requirements.