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An Ultimate Guide For Choosing Flat Insurance
Total Articles: 5
Whether you are a freeholder or a representative of Residents Association or Residents' Management company, having a great block of flats insurance policy should be on your priority list. Having a good policy can save your from many unexpected costs and huge financial expenses. However with a considerable number of insurer we have today, making a correct decision can be really overwhelming. Ever wondered why people hate insurer? Because most of us struggle to understand all the details and factors related to the policy when choosing insurer. Here I will try to speak about essential issues everyone needs to know before purchasing block of flats insurance.
How To Choose An Insurance Provider?
Most probably, if you are reading this post, you have troubles with choosing polciy provider. Here are several questions that will help you to understand whether the insurance company is good for you or not.
What are the limits the insurance has?
How the claims will be paid?
What aspects are covered by the insurance?
These three basic questions will help you to understand the policy better. Try to find the provider that takes time to explain all these issues shortly and clearly. Don't hesitate to ask as many questions about policy as you want.
Difference Between Building and Contents Insurance?
Another factor you need to consider before choosing policy, is the lever of coverage you need. Let's talk about building and contents covers.
Building covers everything that can't be removed or taken away from the building, including bathroom, kitchen and etc. In addition, most of building insurances cover garages and other related outbuildings too.
Contents covers everything you have in the flat, including furniture, personal belongings, laptops, other equipment and etc. In other words if you have contents and some unfortunate accident happens the company will pay the cost of all the damaged or broken items you have in the flat.
Combined Insurance - Many companies offer combined insurance policy which covers both building and contents. Generally, this type of cover is cheaper than two separate policies. However, every insurance provider has specific terms and conditions, you should check before choosing combined cover. One more important thing you must take into the consideration is you needs. Buy combined insurance policy only if you need it. For instance, if you have rented the flat, most probably you only need contents insurance, because the landlord is responsible for having building insurance.
Comparison Of Prices Online
Block of flats insurance comparison has become easier today. You don't need to visit different policy provider offices and speak to the agents separately. Instead you can use online platforms where you can compare prices depending of coverage and special requirements. Some online websites even have free online consultation to help you understand what type of block of flats insurance you need, what is a proper price for that package, what is covered and not covered.
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