Top tips about home insurance to make the most out of your money
It is time for you to step into adulthood. To start planning for your future and to start a family of your own soon. You start looking at different websites to do your research on buying house in Malaysia. However, you are swarmed with the negative comments by people around you telling you various horror stories that you can ever imagine, e.g.: the debts that you got yourself into after getting your first property in Malaysia, the tedious process of getting a property in Malaysia and the commitments you get yourself into when you start buying a property in Malaysia. You start reading many articles available on the websites on how to buy house in Malaysia in order to prepare yourself to buy your first ever property. However, there is one important thing that most people missed out on: home insurance .
Before you start looking at all those furniture thinking which to buy, you should start looking into home insurance first before deciding on which sofa to buy. Many people neglect the importance of having a home insurance and therefore overlook the need to purchase one home insurance. Getting a home insurance not only give you security, but it also ensure that your home will be taken good care for the coming years. That being said, you should look out for the best home insurance that suits your need as there are many different kinds of home insurance available in the market. This article will guide you through the top tips about home insurance that you can make the most out of your money.
1. Understand the policies before deciding which policy to buy
We all know that the policy can be a few pages long and it is really boring to go through the policy one by one, but it is essential that you fully understand what you are paying for. Most people make the mistake of leaving this important step to the insurance agent and end up regreting it in the future.
Understanding the policy better will only bring you pros as you get to know what are the things that you can claim and cannot claim in case of any uneventful situations, including the amount that you are able to claim. Therefore, it is crucial to fully understand the policy interms of sum assured and additional coverage, or whether it is possible to drop the unnecessary coverage from the policy before deciding on which policy to buy.
2. Buy from the right insurance company
The easiest way is to buy an insurance policy directly from the bank that offers you your home loan. However, it is advisable that you buy a home insurance from a trustworthy insurance company that you fully trust and have confidence in. Furthermore, insurance agents from insurance company have better knowledge and they are well trained to help you in understanding your insurance policy, at the same time, they will also be able to advise you on the insurance policy that suits your needs best with the best sum assured and best coverage. You can check several home insurance from Allianz and decide which suits you the best.
3. Get the correct estimates
Make sure you get the correct estimates of the total cost of your home and the home’s contents in order to insure the right amount to be fully covered in case of any uneventful events. Talk to your insurance agents and ask them to calculate if you are unsure of the total costs.
4. Buy only the coverage that suits you best
Make sure you choose the right home insurance according to the type of homeowner you are. Assess your needs before deciding which home insurance to get. Do bear in mind that the higher the premium you pay, the more coverage you will get. Drop the unnecessary coverage from the policy and only keep those that you think is essential.
5. Safety and security equipment
Other than getting a home insurance, you should also invest in safety equipment and security equipment to protect your home. Install fire alarms so lower the risks of getting your house caught in a fire and install CCTV surveillance to help you monitor your house condition by being able to monitor if there is any burglary. Do prepare a fire entinguisher as well in case of fire.
In conclusion, choose the right home insurance that suits your needs best and of course, a home insurance that fits your budget. Drop the unnessary coverage to lower the insurance premium so you will not have to pay too much for a home insurance. After all, it is a long term commitment and you definitely do not want to regret in the future for choosing the wrong protection for your house. Therefore, spend more time to understand each and every policy and choose wisely.