A property insurance offers financial protection to large properties (residential or commercial) and its contents against losses arising from various risks and potential damages. It covers damage to the physical building/structure as well as ancillaries like sheds, garages, yards, and household items such as furniture, appliances, electronics, clothing, and other valuables. The coverage may vary depending on the sum insured.
Financial protection from damage to property: The cost of repairing or rebuilding a physical structure and attached structures like sheds, garages or even yards can be significant expense, especially in case of unforeseen occurrences. A property insurance protects you against significant financial losses that may arise from cases of theft, fire, natural disasters, etc.
Financial protection from damage to physical goods and equipment: Household items such as furniture, electronics, clothing, and other valuables as well as commercial goods or equipment could be damaged, destroyed, or stolen, including in case of accidents or natural causes. Loss of such assets can lead to financial losses that a property insurance will let you recover quickly from.
Sense of Security: Whether your property is residential or commercial, it is an asset that needs to be protected. Instead of constantly worrying about unexpected financial losses due to sudden or unforeseen damages to your home and its contents, you can secure your property with the right property insurance. Knowing that you have protected your property, its ancillaries, and its contents offers a sense of peace and security.