What factors should I consider when I insure my home?

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RR Financial Consultants‘s insight:

Firstly determine the amount and type of insurance that you need. The sum insured or coverage limit of the property should equal 100% of its replacement cost. If the policy limit is less than 85% of the replacement cost of your home, any payment from the insurance company will be less than the full cost to replace your home  This is known as  Under Insurance . Over and above the basic Fire Insurance, decide which, if any, additional coverage you want to add to your policy.


For example, do you want personal possessions or household contents covered against theft or burglary, cover against the risk of civil commotion here in Bali or, separately issued, earthquake and volcanic eruption coverage. Once you have decided on the coverage you want in your insurance policy, consult us.


We will be able to help you determine if there are any gaps in coverage you might not have been aware of, we can also explain the details of the policy’s exclusions and limitations as well as recommend an insurance company that will live up to your expectations.


For more information please visit:- http://www.rrfinance.com


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