SFA008 Home is where the heart is - please protect it (984 words)

This feature article explains the benefits of protecting a home and contents with the appropriate insurance and what type of cover is available. This is a timely topic, particularly when natural disasters have increased premiums to the point that many Australians are reducing or foregoing insurance. It reminds your readers that not insuring or under-insuring their homes could greatly affect their financial plans if their property is damaged or destroyed.

As a direct result of the widespread natural disasters Australia has experienced in recent years, insurance premiums for house and contents have, in many cases, risen dramatically. When faced with these higher costs, many home-owners might be tempted to under-insure their homes or, even worse, not insure at all.

Your home may be your pride and joy, an asset with a big emotional attachment, but it is also usually the biggest financial commitment you will ever make. It therefore makes sound financial sense to insure your home appropriately. Whether you are reviewing your current cover or insuring a new home, here are some tips to help you make the right decisions.