5 Reasons to have home insurance! - Infographic by Royal Sundaram
5 Reasons to have home insurance!
The moment when you finally buy your own home may make you feel unbeatable and even invincible. But it is always prudent to understand that a calamity can strike at any time and never give you time to recover or prepare enough. Accordingly it is wise to invest in a solid home insurance plan that can safeguard your house. Here are some reasons why this is important:
Disasters/setbacks will not come with a warning
Be it a burglary, a natural disaster or even an appliance short-circuit that burns your living room down…most times an incident just happens without giving us so much as a sign. Thus it is important to have backups for when the inevitable happens.
Prevention > Cure
Your incurred costs to repair and refurbish your home in view of a setback or problem will far outweigh the incremental premiums that you spend to have a fail-safe for such issues in the first place. What is more economical? You can do the math!
It saves your finances
Just like buying a house is expensive, maintenance often costs people just as much over a lifetime. Think your retirement fund can take a hit if your house is suddenly compromised or damaged? Think again, with rising refurbishment costs and lesser ways to reduce the damage once it’s been done.
Resale value benefits
Property is a kind of commodity that appreciates in value and can be sold off for substantial gain sometime in the future. You would do your offspring a disservice by leaving behind an unkempt or uninsured house that they can only sell for a fraction of what a safeguarded address will fetch. Moreover, buyers and agents steer clear of a house that is not legally taken care of.
A long-term investment
The home you buy may become ancestral or even an abode for larger groups of family in the future. Having it insured will ensure that, whoever moves in can live peacefully and without fear of exorbitant costs towards reparations, should something go wrong!
So to be sure, just get insured!