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Insurance Article

Comparing home insurance online? Here's what to look for

November 04 2015
protects-your-home-with-insurance

Car Repairs and Insurance Surveyors

 As a result, the need for a comprehensive home insurance policy arises. You can evaluate a wide range of home insurance policies offered by various companies on their websites.

Since this can be a tedious and confusing task, here's what you need to look for while comparing home insurance policies online:

Coverage

While comparing home insurance policies, examine different natural and man-made events the selected policy provides protection from. Your policy should cover all potential threats faced by your home. For example, if you live in a region that is prone to social unrest or riots, make sure that your policy contains vandalism and burglary cover.

Another important factor to assess before buying a policy is to study the exclusions. This will avoid disappointment and hassles when you need to file your insurance claim.The basic inclusions and exclusions offered by various insurance companies are:

Covered under the policy
Not covered under the policy
Natural calamities like earthquake, hurricanes, etc. Consequential loss, wear and tear, depreciation
Damage by fire and riots Property still under construction
Damage by aircraft, missile, acts of terrorism Damage or loss of items such as jewelry, sensitive documents and money (unless specified)
Damage by war, nuclear war, invasion, etc.

Premium Amount


The premium of your home insurance policy will depend upon how comprehensive it is. If you have opted for a policy that covers structure as well as content and fortified it with add-ons, then it is bound to demand higher premium than a basic policy. You can avail discounts if you opt for a policy spanning more number of years.

Claim Settlement


A good insurance company is judged by its turnaround time for settling claims. The purpose of insurance is defeated if your claim is not settled in time. No one wants an excruciatingly long claim settlement process in addition to the emotional and financial trauma caused by the damage/loss.

Hence, it is imperative to check the claim settlement records of the prospective insurers before making a purchase

Customer Service


All insurers assure a friendly customer service before purchasing a policy, but not all of them deliver on that promise. Carry out thorough research on the company you are about to buy a policy from. Go through reviews and speak to friends and relatives that have associated with the insurance company in the past.

To protect your home from unforeseeable circumstances, a good insurance policy is crucial. The benefits of buying one online, where you can carefully study different options available are manifold. However, to prevent any unpleasant surprises, make sure you meticulously read the entire policy including the fine print before making a choice

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