Are you planning to buy your first real estate property? Being a homeowner is a long and tedious process for some, but having a property of their own is a financial milestone for many Filipinos.
Buying a house is one thing, keeping your investments safe and secure is another. Here are some important reasons you should get home insurance in the Philippines.
It can help you pay for repairs
If your home is damaged by a hazard covered by the insurance policy, you are likely to get money for the needed repairs. But it’s not just about the damages on your actual home. Some home insurance policies cover attached structures, such as sheds, fences, and others.
It can help you replace stolen personal property
Having your home and all its contents insured may help you replace or pay for stolen furniture and electronic gadgets covered by the policy. In the Philippines, this is helpful as such items can be quite expensive. Having a home insurance coverage gives you peace of mind that the policy could help you replace lost items with no additional costs.
It can help you pay medical bills for injured guests
It’s normal to have a lot of visiting friends and extended families. If in any case, one gets injured on your property and your home is insured, the home insurance may help you pay for any medical expenses that could result from the accident. This is quite helpful as some medical expenses in private hospitals can be huge.
Getting a home insurance provides you with another layer of protection from unforeseen expenses. Whether you’re a first-time homebuyer or not, consider getting an insurance policy to help protect your family, your belongings, and your finances.