One of life’s most significant achievements is owning a home. It is therefore expected that the homeowner will protect his home from unexpected threats and will opt to take a home insurance cover.
However, to many homeowners, home insurance spells out doom for them instead of freedom and the ability to plan for the future ahead because of a few misconceptions. Let’s debunk a few of them:
- Claims Settlement is Almost a Tug-Of-War Affair
Some feel that this process is unnecessarily cumbersome with an unlikely outcome. This is not the case.
First, inform the nearest branch of the insurance company of the unfortunate event. They will send an agent to determine the actual extent of the damage, who will report back to them with a comprehensive report.
Afterward, they’ll ask for some documents before they can begin to process the settlement of your claim.
- Acts-Of-God Circumstances Are Not Covered By Home Insurance Covers
This is a popular one. Many feel that they will not be compensated by their home insurance companies in case of an unfortunate disaster influenced by nature such as a flood, volcanic eruption, earthquake, among others.
Homeowners ought not to fret as this is a compulsory feature in most home insurance covers. It is important to note that this kind of clause varies significantly across various companies.
One might cover what the other might not, so it is highly recommended that you make a thorough comparison of numerous insurance policsies before making your decision.