If you are considering buying a home insurance, it is
important to know the types of home insurance there are and the benefits of
each. Knowing the basics of home insurance coverage is key to choosing a policy
that best suits your needs. Below are some of the types of home insurance
Philippines.
The first type of home insurance Philippines is high
value home insurance. This type of home insurance is split into two i.e.
building and contents insurance. Building insurance is insurance on very
expensive homes that cost more than 500,000 Euros to rebuild. By taking
insurance coverage on such a home, you get financial assistance in case of
damage or vandalism. High value contents involves coverage against high value
equipment in the house. A contents policy protects your belongings from theft,
and damage from fire and flood. Contents policy covers everything in the house
from paintings, jewelry, clothes and all.
The second type of home insurance Philippines is
holiday home insurance. This is home insurance taken for homes that will be
left empty for a long time. Most of these empty homes are prone to burglary as
thieves see a chance of not getting caught due to absence of home occupants.
This cover protects your home and its contents generally. The insurance company
may require to know the worth of the items in the house just in case any of
them gets lost.
The third type of home insurance Philippines is landlord
and tenant insurance. Tenants insurance usually taken by tenants for their home
contents. A tenant cannot take insurance coverage for the building since the
building does not belong to her. As a landlord you can take insurance coverage
as a maintenance policy against damages. Tenants can be very messy and clumsy.
Some may end up damaging walls, glass window among other parts of the house.
The landlord insurance policy, protects the landlord against losses
For more information on the types of home insurance Philippines, visit our website at https://ichoose.ph/start/home
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