What are the benefits of Insurance Property?

What are the benefits of Insurance Property?

Benefits of property insurance and how much the premium must be paid in 2022

What are the benefits of property insurance? In addition to receiving compensation when the property is affected by fire, natural disaster or theft, it is also not necessary to pay architects or surveyors and consultants' fees when renovating buildings.

With property insurance, you can live in peace. You also don't have to worry about leaving the house for a long time because everything is protected.

How much is the premium to pay? The amount of a property insurance premium is generally influenced by the location and use of the building. For example, the state of the building, is it inhabited or has more inhabitants left; the environmental status of the building is found; loss due to theft or previous demolition; the type and value of the property to be insured and whether the building was flooded or not. So your insurance application will most likely be rejected if you live in an area that gets flooded every year.

The quality of the building also determines the economic or high premium that must be paid. In property insurance, buildings are divided into three classes. The first class is flame retardant, the second class is relatively fire resistant, and the third class tends to be flammable. The first class premium price is the cheapest and the third class is the most expensive. It should be noted that if your home is made up of 100% cardboard material, your insurance application will likely be rejected. Before determining the premium, the insurance company will carefully review the property to determine the construction quality of the property.