Ways To Protect Your Investments
Our house is a major investment. We work hard and save money to buy our dream property. For this reason, we need to protect our investment once we are able to acquire one from your hard-earned money. There are many risks associated with owning a house. Most of the time, these risks are too costly for you to shoulder from your own pocket. Here are several ways you can protect your investment.
1. Choose Insurance with Best Coverage, Not Best Price
For many homeowners, insurance has always been an afterthought. In fact, they don’t know that they need insurance when buying a home. Also, many people insist on getting the best deal on their homeowner’s insurance. It’s not about getting the cheapest policy but getting the best coverage.
Problems may arise if you consider price when buying insurance. You need to be aware that your life insurance may not offer protection for your home. Yes you may be able to save a thousand or two pesos but your current insurance may not provide you with the funds you need to cover financial losses in case your house gets damaged or need to be repaired.
2. Maintain Your Home
If you own a car, you would probably have the oil changed, body repainted, or add accessories and other enhancements. In the same way, your home would require regular maintenance. You live on it every day and add appliances and furniture from time to time. Thus, you need to take care of it.
Getting home insurance from Assurance.PH would help cover any repairs or renovation costs. If you need to move out temporarily while your house is being renovated or repaired, you may even be covered for the rental fee and other expenses, depending on the provisions of your policy.
3. Prepare For Emergencies
Natural disasters like floods, earthquakes, and fires can happen at any time. When this happens, are you ready to pay the cost of repairs or damages out of your own pocket? Homeowners insurance will provide you with the defense that you need during these natural calamities.
Aside from insurance, you can also do additional preparations like installing safety features and having an evacuation plan during calamities. You need to have an emergency kit in place should there be a need to evacuate. Important documents also need to be stored.
4. Ensure Safety In Your Premises
This is very much applicable if you have a rental property. You’ll never know when one of your tenants or their visitors gets involved in an accident or suffers an injury in your premises due to unsafe surroundings. You could be held liable for any injuries on your property You can spare yourself from any lawsuits by ensuring that you have liability insurance.
Liability insurance will cover the costs for any injuries that might happen to someone while inside your property’s premises. Lawsuits are risks that you don’t want to experience because they can be costly. To completely avoid them, ensure that there are safety precautions in place on your property. When your tenants complain about leaks or damages that need to be repaired, you should immediately act on it.
5. Inspect Property Conditions
Wear and tear can lead to some issues in the long run. Natural calamities like rains and strong winds can damage your roof and cause it to leak. It can also cause your garage pavement to start cracking. For this reason, you need to conduct a home inspection to check for any hidden issues that need repairing.
By inspecting your property, you will be able to know the real condition of the structure, foundation, plumbing, electrical systems, and others. Your insurance provider may be able to cover the costs you will incur for the repairs of any damage that will be assessed by an inspector.
Protection For Your Investment with a Homeowners Insurance
Assurance.PH understands the hard work that you put in to invest in a new property. For as low as P1,000 a year, you get the peace of mind that your investment will get full protection from unnecessary expenses you may incur. When you apply for property insurance, you get the following:
- Basic Coverage (Fire & Lightning)
- Complete Allied Perils (Typhoon and Flood, earthquake fire and shock, riot, strikes & malicious damage, bursting or overflowing of water tanks, pipes, and fittings, sprinkler leakage, volcanic eruption, extended coverage (smoke damage, explosion, vehicle impact, and falling aircraft)
- Extensions of Cover
- Alternative Accommodation (up to 5% of total sum insured, maximum of P25,000 a month for a maximum of 6 months)
- Personal Liability (protection against 3rd party liability due to negligence)
- Property Damage
- Bodily injury
- Replacement of lock & keys
- Accidental Breakage of fixed glass
- Burglary & housebreaking
- Personal accident (24-hour 365-day protection from accidents wherever you are)
- Hospitalization insurance (medical reimbursement due to accident)
- Household employee insurance (personal accident, personal belonging, daily cash benefits/hospital confinement)
- Valuable items protection (coverage against loss or damage specifically declared and while inside your premises)
The property insurance is not only limited to homeowners but also covers home renters. Buying property insurance from Assurance.PH is like ordering pizza. You can add toppings (cover) to the basic crust and cheese depending on your needs.
Don’t let your investment go to waste. Give your home the protection it needs with homeowner’s insurance. Talk to an Assurance.PH advisor for further details at firstname.lastname@example.org / 09157052031 or 09052050402.