Losing the entire contents of your home would mean starting over from scratch. It is therefore recommended that individuals, especially persons living in rented properties, cover themselves for unexpected events like a burglary or a fire.
Content insurance covers loss or damage to all the items in your home which are not part of the structure or the building, so you can replace and repair them without spending a fortune.
According to Chaluk Richards, assistant general manger, at GK General Insurance Company, even when they are not the owner of the building they occupy, persons deserve to have their most valuable assets covered.
“The major benefit of having content insurance is coverage for items in which a renter has invested. Whether its furniture, appliances, electronic equipment or even art, renters or lessees spend money to make their living space ‘theirs’ and as comfortable as possible. Should those items be damaged or lost, having content insurance ensures that a part of or the total cost to replace the items can be recovered,” Richards said.
Items that should be covered include furniture, jewellery, electronic equipment, laptops, paintings and other pieces of art. Certain valuables can even be covered while you have them with you on an overseas trip.
Richards said there is liability coverage for employees and members of the public visiting your home. “If, unfortunately, your domestic employees or a visitor to the premises occupied by you, suffers an injury or loss, we will provide coverage. As with all policies, there are conditions that must be satisfied by the policyholder,” he said.
ALL BELONGINGS COVERED
Coverage is provided for anything contained in the home belonging to the insured person or for which they are responsible. There is no coverage for landlord’s fixtures and fittings, any living animal, any item used in connection with a business, trade, occupation or profession unless specified in the schedule, or motor vehicles and accessories or anything in or on them. These items are better covered under different types of policies.
Costs, Richards said, and the best coverage will vary based on the type of dwelling persons live in, where you are located, and even the frequency of overseas travel you undertake. The terms and conditions of the policy are similar to what one would find under all policies of insurance.
For further details call: 1-888-429-5454 or visit any one of their six branches island wide. Information is also available at: www.gkgeneral.com.
The Jamaica Gleaner