What is Home Insurance?

Home Insurance

Home insurance offers coverage to a home and the physical contents that were damaged by the unpredictable event. These events can be anything, such as a storm, flood, earthquake, theft, vandalism, mechanical failure and more depending on the insurance limit.

As these events are unpredictable ,  some may believe that this kind of insurance is not needed as these events are unlikely,  but soon you will understand, everyone; landlord or tenant should get an home insurance.

It is an insurance that is becoming a necessity and  is proven to help  range of clients recover from such incidents.Home insurance reduces financial risks for the home owner  when they  have to face such unpredictable events. The insurance gives the insured the hope of recovering from something that would  much harder and expensive without.

What is covered?

Home insurance covers a range of unpredictable events such as:

  • Natural Disasters- Storms, Tsunami ,Hurricanes etc
  • Fires
  • Floods
  • Burglary

The insurance will provide capital to the insured for:

  • Damaged structure: for example Walls, Floor, Roof
  • Stollen or Damaged Personal Belongings– TVS, Laptop, Computers , Furniture
  • Additional Living Expenses-if you cannot live at home due to damage from a an insured disaster. It covers hotel bills, restaurant meals and other costs, over and above your usual living expenses.

What should you know?

Every tenant needs home insurance to protect their valuables in the landlords house. As the home insurance that the landlord owns only covers the  physical home like the walls, floors and anything they own. In a case of a fire the insurance company will only reimburse the landlord for their loss, not the tenant for all the valuables they have lost

The things that are not covered would be damage caused from neglect, incidents with deliberate maliciousness and failure to properly maintain the home. For example  mould, rusting, fire caused by owners neglect  may not be covered by a standard home insurance policy.

A major exclusion  for home insurance is  if the is loss or damage in the home  where the  owner has not lived in for more than 30 days. Another reason that will stop a  policy owner from receiving their insurance capital for theft, will be if the house has been part of sub-let or sub divided.


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Best Reasons For Home Insurance In Hong Kong

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Through the years there have been countless destructive events that no one could have predicted and till now we don’t know how to protect ourselves from unplanned events. Although at the end of the day, we all think our homes are the safest places and feel protected at home. Unfortunately, this isn’t always the case, as your home safety can be as unpredictable as the outside world. Nearly everyone would agree that they would do anything to keep their home safe and protect their valuable items and loved ones. At the same time, a few still believe that home insurance [...]