The home is one of the places we make the most beautiful memories. It is our biggest asset because it provides security, control, belonging, identity, and privacy. Hence, we spend thousands of Cedis on building a home to shelter us and the people we love the most. We also go the extra mile to make the home comfortable by getting items or gadgets that will make our lives easy.
For renters, you furnish your apartment with items that bring you comfort and joy. Items like television, air conditioner, freezer, sofa, kitchen appliances among others take a lot of hard work and a fortune to purchase.
So, the question is, why would you spend so much on your properties and decide to leave things to chance by not insuring them? Think back to the cost involved in building or purchasing your valued assets. You do not want to lose all that in a day due to fire or other natural perils. You also would not need to break your bank account or rely on friends for financial support because of an unfortunate incident.
Home insurance or home content insurance may sound far-fetched, but the truth is, it is better to be insured than to be sorry. Instead of repairing or replacing your lost items, insurance will pay part or in whole for your house to be repaired or for replacement of the damaged items. Home insurance and home content insurance, help reinstate you back to the financial position you were in before a loss arising from Fire/Allied perils or Burglary.
What then is home content insurance
Home content insurance is a type of insurance that cushions you financially should you lose your possessions to fire/allied perils and burglary. Home content insurance protects your assets, such as the building structure and the items inside against unforeseen circumstances whiles renter’s insurance protects the valuable possessions of the renter against damages.
You as the insured pays an agreed amount to your insurer, this agreed amount called a premium is in exchange for a guarantee from the company that it will bear the burden of a large but uncertain risk in the future.
Insuring your home has many financial rewards. Here’s why:
Peace of mind
Home insurance provides you with peace of mind to go about your normal day to day business knowing that you are covered should something bad happen to your home. It protects you from natural disasters such as floods or earthquakes. People living in flood-prone areas turn to be very worried during the rainy seasons. The flood prone map in Ghana indicates that almost the whole area of the Greater Accra Region has a possibility of flooding.
However, the most risk areas are Accra Metropolitan, Ledzokuku Krowor, Ga West and Ga South. Living in disaster-prone areas can be a nightmare, the constant burden of repairs and property replacement. A detailed home insurance plan covers you during natural events like floods and earthquakes, for a minimal monthly or yearly expense.
Your home is also covered against a variety of risks like fire. You get to enjoy peace of mind knowing that your possessions are covered against loss or damage from fire and other allied perils. You don’t worry when your house is razed down by accidental fires.
Covers the structure of your home
A home insurance policy protects your home against damages caused by fire, flood, earthquake, lightning, or other disasters listed in your policy. Most policies also cover your outbuildings such as a fence, swimming pool, plumbing and other parts of your home. When purchasing coverage for the structure of your home, remember this simple guideline: Purchase enough coverage to rebuild your home.
Coverage for your personal belongings
Personal belongings like furniture, clothes, electrical gadgets/appliances, sports equipment, and other personal items are covered if they are stolen or destroyed by fire, or other insured disasters. Also, under home content insurance, expensive items like jewellery, furs, art, collectables, and silverware can be covered.
Home insurance is not expensive
Insurance is not for the wealthy; it is for everyone irrespective of your income. Once you love it you should insure it. Insurance premiums are paid based on individual risks. Interestingly, home insurance or home content insurance is not expensive.
How Hollard Insurance has improved the process of buying home insurance
Customers, their needs; their buying behaviour and expectations have transformed radically over the period. Customers want to be delighted; they want personalized products, out of office customer experience, seamless paperless solution, among others.
The award-winning product Hollard ChatInsure nicknamed Araba Hollard is an Artificial Intelligence (AI) currently hosted on WhatsApp. Araba is the first virtual insurer in the country, offering end-to-end insurance services within the messaging application and without human intervention.
Customers can initiate, process, pay for and receive policy documents on WhatsApp, covering burglary, fire and allied perils to their possessions and physical building structure. From as little as GHS50, users can insure their home contents for the entire year. Simply save her number – 0242 426 412 – and message her on WhatsApp to access her services.
No matter the size of your assets, whether a homeowner or a renter once you love it. You should insure it for you shall enjoy the fruits of your labour through insurance. Remember to insure with the country’s favourite insurer Hollard Ghana for a better future!
>>>The writer is an insurer and Managing Director (MD) of Hollard Insurance Ghana