Protect your peace of mind: Why you need home insurance

Most of the time, we don’t really want to think about potential risks — a fire? A devastating earthquake? A super typhoon? A robbery? Yikes … knock on wood — and we resolve to thinking that “it will never happen to me.” Chances are, it won’t, but you’ll also never know real peace of mind until your home, i.e. your most significant asset, is fully protected. This is why home insurance is important for anyone who owns a home.

What is home insurance?

Home insurance offers financial protection in case of any damage or destruction from accidents, fire, flood, and other natural disasters and incidents.

With an insurance, you pay a fixed fee or premium. In exchange, the home insurance provider guarantees that it will shoulder a large portion, if not all, of the costs of any damage in your house or injuries that occurred in your property. Having insurance can help you pay for any damages on your property, so you don’t have to use your savings or take out a loan to cover them, thus saving you from additional financial burden.

Home insurance in the Philippines cost as low as PHP 1,200 a month. Premiums vary depending on the type of house you own, its condition and age, the location, and the type of coverage you require.

The benefits of having home insurance

Most people think they have a slim chance of needing home insurance and, thus, cannot get their money’s worth. But it’s always better to be safe than sorry. Here are ways having home insurance will make you sleep better at night.

It will give you coverage for structural damage

Home insurance typically provides coverage for the structure of your home. If your house is damaged or destroyed due to a covered peril, such as fire, vandalism, or severe weather, your insurance policy can help cover the cost of repairs or rebuilding.

It will protect your personal property

Home insurance also covers your personal belongings, such as furniture, appliances, electronics, and clothing. If your possessions are damaged or stolen, your insurance policy can help reimburse you for the cost of replacing them. This coverage is particularly valuable in situations like burglary or fire, where the loss of personal belongings can be quite devastating.

It will protect you from liability

Accidents can happen, and if someone is injured on your property, you may be held legally responsible for their medical expenses and other damages. Home insurance typically includes liability coverage, which can protect you in such situations. If someone files a lawsuit against you, your insurance policy can help cover legal fees and potential settlement costs, offering peace of mind knowing that you have protection against unforeseen liability claims.

It will give you rent and relocation expenses

If your home becomes uninhabitable due to a covered event, such as a fire or severe storm, home insurance can provide coverage for additional living expenses. This includes costs associated with temporary accommodations, meals, and other essential needs while your home is being repaired or rebuilt. Knowing that you have support in finding alternative housing during a difficult time can alleviate stress and provide peace of mind.

Natural disasters? Just worry about yourself and loved ones

Many home insurance policies offer coverage for natural disasters like typhoons, earthquakes, and floods. These events can cause extensive damage and financial loss, so it’s essential to understand the specifics of your policy regarding natural disasters and make sure you have adequate coverage for potential risks in your area.

It will protect your hard-earned financial stability

Why get a home insurance? Home insurance provides a safety net by helping you manage unexpected expenses. Without insurance, repairing or rebuilding your home and replacing damaged belongings could put a significant strain on your finances. Having insurance coverage allows you to focus on recovering emotionally from a loss without worrying about the financial burden.

To maximize the peace of mind that home insurance offers, it’s crucial to review your policy regularly, understand its coverage limits and exclusions, and ensure that it aligns with your needs and the value of your home and belongings. It’s also wise to keep an inventory of your possessions and their estimated value, as it can help streamline the claims process in case of a loss.

Ready to protect your home?

Home insurance protects both your home and your wallet in case your home is damaged. We can guarantee that the benefits of having home insurance, especially the peace of mind it comes with, makes it worth every cent.

Protect your home with the right house insurance. For a premium of PHP 1,200, your property can be insured for PHP 1,000,000*. Get a quote for the best coverage that suits your needs here.