6 Tips to Choose Building Insurance

You’ve recently purchased or built a home, building insurance should be your next step. Here are a few tips to choosing the right insurance.
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2018-06-12
Building insurance is a necessity for your home to cover you for a burst geyser, a collapsing wall, or a roof damaged from a storm. Our useful tips will help you make the most of your building insurance.
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Get Picky

There are a variety of great building insurance options available, make sure you pick the one that best suits your needs. It’s always best to opt for comprehensive insurance, which will give you the best cover for the widest range of events.

Be Honest About the Value of Your Home and Property

You should always be honest when completing insurance applications otherwise in the case of a claim, you can be underinsured and you would need to pay a portion of the costly repairs.

Know What Your Policy Excludes

Make sure you know what your building insurance policy includes and excludes before you sign on the dotted line. For example, if your home is in a low-lying area and prone to flooding, you need to choose an insurance policy that covers you for flooding.
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Keep Up with Maintenance

Your monthly premium will be lower if you have recently replaced or properly maintained the structure of your home. Don’t wait for disaster to fix that leaking roof or corroding plumbing. Take note, if you have left your home in a condition of disrepair, your insurance company may not cover you if you make a claim.

Plan Ahead for Construction

Have the foresight to plan ahead with materials if you intend to build extra structures on your property. Stay away from flammable building materials like wood beams; rather opt for concrete or bricks, as they are also more weather hardy.

Keep Your Insurance Company in the Loop

Make sure you notify your insurance company when you make additions or renovations to your home to ensure you are comprehensively covered.