It is a good start that you have a home insurance in the first place. But, the extent of the coverage depends on the type of policy you take. There isn’t a standard type to choose from. The type of insurance you will get depends on the insurer and the options that are available. It is important that you compare the home insurance option to make sure that you are getting the right coverage for the right price.
Guide to help you determine the type of home insurance
Following is the guide that can help you determine the type of home insurance that you need:
- Basic: The insurers have a bottom of the range coverage that they have to offer. Some insurers even call it a Bronze tier. The idea of this coverage is to get home insurance for as cheap as possible. In a basic coverage you will get coverage for contents up to AED50,000. There will be a limit on the things that can be covered for that amount. If your contents of home is AED50,000, but AED40,000 is that of jewellery, you will get coverage of AED15,000 only for jewellery. Therefore you must check with your provider before you are signing any document. The insurers will also offer additional perks when you sign up at the basic level. You may get a good deal when you shop around for the home insurance.
- Mid-level: This is an in-between offering that costs a little bit more than the basic coverage but with more benefits. The main benefit is that the coverage will on a great value of content. You get coverage for AED100,000 worth of contents. You get flexibility when it comes to the types of content as well. Your jewellery allowance will be generous. The additional perks are better at this level and you get better options as well. You will be paying a higher premium than you would on a basic coverage. But, it is worth the amount that you are paying as you are getting a better coverage.
- Top-level: The monthly premiums are higher in the top level home insurance. But, you aren’t compromising on the coverage and the benefits. Your content insurance can extend to AED300,000 and above. If you have expensive belongings, then you must consider opting for the top level insurance.
|You should check out What is home content insurance?|
Before choosing the type of coverage, you must take various quotes and compare them and choose the best from the whole lot. Before you choose the coverage, make a note of the things that you want coverage for as well. You must also check the limit of coverage is allowed on the items as you wouldn’t want to be surprised later. If you are acquiring more expensive belongings, check with your provider if they can be covered under the insurance you have. If you cannot get the belonging covered under your existing insurance, you must consider getting a better level of coverage.