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No. You are not legally required to insure your house. When taking out a mortgage however, the bank (that takes your house as collateral) is likely to require you to take out home insurance.
If you have indicated on the application that you have outbuildings that need to be insured, they are included in the insured amount.
To determine this, use this simple rule: everything immovably attached to the house is covered by the house insurance; everything else by the home contents insurance. For example, a click-laminate floor falls under home contents insurance, yet a glued wooden floor under home insurance.
You can apply for a house or contents insurance online. You will hear from our staff whether your application has been approved or if the application will first be reviewed by a BSure consultant. You will also receive a confirmation email.
BSure offers extensive and comprehensive coverage against damage caused by:
The insurance has a standard supplemental coverage for costs associated with the settlement of claims. These costs are paid in addition to the insured sum. Examples are costs associated with:
No, this is not the same. The rebuild value is the amount needed to rebuild your home on the same location, with the same size and for the same purpose. The purchase price is the value of the house, including the land on which it stands.
If the premium for your insurance is not or not fully paid, the coverage of your insurance is withdrawn and your house and / or contents are not insured.
1. First contact the police for the official investigation. Then report to the police station to give an account of what exactly happened and what items were damaged or stolen. When you later find that more items were stolen or damaged, you can file an additional report. The police will give you copy of each report.
2. Report the damage as soon as possible to BSure. We will send you a claim form.
3. Fill out the form, sign it and send it to us with the purchase invoices. We make sure that your claim is processed as soon as possible.
Basically, you are insured for the replacement value. You therefore claim the current replacement value if an item has been lost or destroyed entirely. If repair is possible, you will be reimbursed for the repair costs, often supplemented by an additional compensation for the loss of value of the item(s).
