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Why is property insurance important for Homeowners

Many Filipino homeowners think that getting property insurance is an added expense, especially when buying a house. However, getting an insurance will help prepare the homeowners from inevitable calamities as they get immediate assistance in case rebuilding is needed.

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Why is property insurance important for Homeowners

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  1. Why is Property Insurance Important for Homeowners?

  2. Why is Property Insurance Important for Homeowners? The Philippine real estate industry has been evolving over the years. It has helped raise the country's economy despite of inflation due to the new tax laws. In addition, the country encounters natural disasters caused by typhoons and earthquakes which makes its infrastructures more susceptible to damages.

  3. What are the kinds of insurance to choose from and what are its coverage?

  4. Basic and Standard Insurance Policy

  5. This covers protection of the house from fire or damages of properties.

  6. Note

  7. Most homeowners will choose the basic and standard insurance policy as it is one of the requirements when applying for a house mortgage.

  8. Comprehensive Insurance Policy

  9. This type of insurance policy includes added benefits that will protect the house and its properties from damages caused by fire, lightning and other natural causes such as typhoons and earthquake.

  10. Note:

  11. Homeowners do not acquire this kind of policy since it can be quite expensive. However, they strongly believe that it is not necessary for the added benefits.

  12. How to avail an insurance policy for your home?

  13. When buying a house or a property, always inquire for an inclusion of insurance. A Brown Company Inc. has partnered with banks and insurance companies to give the buyers optimal choices of benefits and policies that are right to their budget and needs.

  14. Why is home and property insurance important?

  15. The Philippines is an archipelago and is one of the most tropical countries in SouthEast Asia and the world. Annually, the country experiences typhoons and other natural causes that will most likely result in a major disaster. Many Filipino homes are vulnerable to these causes and without protection, it will be difficult to finance the rehabilitation and restoration of the damaged homes.

  16. What’s in store?

  17. What’s in store? There are a lot of insurance companies that are offering better policies for homeowners. Getting a property and home insurance is important. It will not only protect the house but also the welfare and future of homeowners.

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