Your home is most likely one of the most valuable assets you could own but for most homeowners, home insurance is not among the top choices of insurance they consider to buy. However as a homeowner, staying without a home insurance policy is a huge gamble.
What is home insurance?
A home insurance policy is an insurance that covers losses and damages to your house and its valuables caused by unpredictable situations which include fire, theft, terror attacks and natural calamities such as floods etc.
Here are some of the reasons why you need home insurance as a homeowner;
- Peace of mind
When you get home insurance, it will put your mind at ease about something potentially going wrong with your home. It’s always better to be safe than sorry when it comes to something as big and important as your home.
- Protection against robbery and theft
When you have home insurance, you will be protected in case someone breaks into your house and steal your valuables such as laptops, mobile phones, jewelry and cameras among others. You would not want to lose some of your most precious items and not be able to replace them. Therefore, home insurance can give you the confidence to know that if anything gets stolen from your house, it will be covered.
- Protection against natural disasters
Even if you live in an area that is not prone to destructive weather like hurricanes or tornadoes, sometimes the unexpected happens and it is usually not in our control. Natural disasters such as fire, floods, storms or lightning can cause heavy damage to your home and reconstruction is never an easy task. Therefore, while these disasters can’t be prevented or even fully predicted sometimes, it is still important you protect your home, its buildings and contents with home insurance that compensates for loss or damage.
- Pays medical bills
Home insurance provides compensation in case your domestic workers get injured or in worst case scenarios, they die while doing domestic work in your home. Owner’s liability coverage can also be included in most home insurance policies which entails protection against third party injury or property damage suffered by a third party at your home.
In the last few years, the cost of living has increased drastically and more Kenyans have had to dig deeper into their pockets just to make ends meet. This has seen people ignore home insurance by seeing it as an extra cost in this harsh economic times while on the contrary, the cost of CIC home insurance is incredibly affordable. For instance, for a house valued at Ksh5 million, one will pay Ksh7,500 in premiums per year while personal property worth Ksh10,000 will cost Ksh100 per year.
For more information or enquiries on home insurance, feel free to call us on 0703099120 or visit https://cic.co.ke/careers/individual-solutions/domestic-package/.
