If you don’t specify a Sum Insured, the insurer will set a default Sum Insured based on the information they have. But the insurer does now your home as well as you do and this Sum Insured might not provide adequate cover. This approach also means the Sum Extra benefit won’t apply.
Check for things like…
- How much you’re covered for if there’s an earthquake.
- How much owners liability cover.
- Are accommodation costs covered if you have to move out for a while?
- Extras like damage from pets or covering for loan payments following a total loss.
You may want to insure the things that are valuable to you at the same time as your house.
Often you’ll get a discount by taking the two together.
Contents insurance covers things in the house like your furniture as well as personal items like jewelry.
Is your home secure?
Preventing problems is the best insurance you can have.
Here are a few simple tips for after you move in…
- Install smoke alarms
- Have a hose handy outside
- Have a small fire extinguisher inside
- Check stormwater and other drains
- Fit good quality locks
- Get to know your neighbors
- Keep bushes near the home trimmed
- Have outdoor lights with sensors
- Use timers on inside lights if you are out
- Make sure garages and sheds lock up
- Consider installing an alarm
You can save money on premiums by…
- Choosing a higher excess ( the amount you pay yourself if you have a claim)
- Getting all your insurances together as a package deal.
- Asking about no claims bonuses.
- Asking if there’s a discount if you have a security alarm.
Please contact Oliver Broomfield Mortgage & Insurances to discuss any requirements you may have.