Why You Should Check Your Building And Contents Insurance

2008-10-15 10:14:49

( Insurance )



Building and contents insurance provides cover to your home and its contents in case there is structural damage caused by earthquake, fire and the like, as well as burst pipe and theft of your personal property. However, you should take extra precaution when choosing insurance plans especially when you are protecting a second or vacation home.

If you are only staying in your vacation home during summer months, be sure that you check the terms of your building and contents insurance as regards to the required number of months that it should not be occupied. Majority of the insurance companies would only allow you up to one or two months when your second home is unoccupied in any one year period. Otherwise, they will not pay your building and contents insurance claims.

To avoid nonpayment of building and contents insurance claims, make sure to check the terms and conditions in your policy. If there is no way that someone can stay in your vacation home for months other than summer, then you try to talk to the insurance company. Your insurer may impose a higher premium charge to cover for this type of scenario.

If you rent your vacation home to people other than your immediate relatives, your claims may not be paid because this is not allowed under your building and contents insurance. Make it a habit to read the fine prints of the financial products you purchase. It is best to find a specialist broker or agent to help you find the right building and contents insurance cover for your situation.

You can ask your insurer for a discount on your building and contents insurance if the location of your vacation home is in a quiet neighborhood that implements good security, provided that it is only you and your immediate family member who stay in the property.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.