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Insurance Article

Difference between structure and content insurance

September 14 2015
They were insured, are you?

They were insured, are you?

Things to remember while buying Home Insurance:

  • Affordable premiums
  • Comprehensive policy includes both content and structural insurance
  • Coverage in case of alternate accommodation
  • Terrorism cover
  • Additional riders to suit specific needs
  • Exclusions in the policy
 

A simple explanation of these home insurance terms

The popular policies preferred are those for health, life and vehicle insurance. Although crucial, these do not cover your belongings back home. This is where home insurance comes to your rescue.

The popular policies preferred are those for health, life and vehicle insurance. Although crucial, these do not cover your belongings back home. This is where home insurance comes to your rescue.

Structural Insurance

For property owners, structural insurance is a must. It covers a large number of damages to the utilities and fittings such as walls, roofs, foundations, windows, etc. It is a boon for the homeowners who can take advantage of the policy in case the main structure of the building is damaged, destroyed or decayed due to extreme weather conditions, subsidence or fire.

Content Insurance

Content insurance is for both tenants and property owners. It covers most of the transferable belongings that you can take with yourself while shifting residences. It is always recommended that you insure expensive electronics and specify the ones that are at a risk of damage and burglary. Installing anti-theft installations such as security camera, burglar alarms and extra door locks might prove helpful in reducing the premium amount.

Some insurance companies render the claim invalid if the home is left unattended for more than thirty days. Therefore, to avoid any confusion or disappointment at the time of claim, read the policy document carefully and choose relevant add-ons to strengthen your policy.

Parting Thoughts

To avail the benefits of both content and structural insurance, one must take up a bundled home insurance policy. Content Insurance is ideal for tenants, whereas Structure Insurance is a must for home owners. It is suggested that home owners opt for a comprehensive home insurance cover that comprises of Content, Structure as well as add-ons.

 

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