When unforeseen things destroy the business
You are a homeowner, you have children, a wife, and two cars. It’s all going well for you and your business until the accident happens: Your house suffers some kind of damage which means you have to close the business to cover costs. And why: Because you did not have the right home insurance.
Well, I know it sounds a bit doomsday, but the scenario isn’t entirely unrealistic, is it? Therefore, here is a guide on how to cover your house with the right home insurance, so that you avoid major financial damage. It destroys your finances and your family life, and in the worst case can lead to family problems.
What is home insurance?
It doesn’t matter a bit in the wording: Home insurance is insurance that covers damage to your house. This applies regardless of what type of house you have: Plot house, villa, holiday home, terraced house, or country property. You MUST have home insurance to avoid financial loss.
These types of insurance can be included in home insurance:
- Fire insurance, which covers fire damage to your house. This insurance is usually a prerequisite for you to be able to borrow money from the bank.
- Glass and basin: This covers damage to, for example, toilets and showers. That will say the bathroom.
- Sponge: Covers sponge
- Advice: Cover advice
- Insect: Covers damage caused by insects such as wasps.
- Pests: Covers damage caused by pests such as moles or bats.
- Building insurance: Covers damage to the building itself. This could be due to storm damage, for example.
How much does home insurance cost?
It is a very individual question because it depends on many things. For example, it depends on the following:
- How old is the house?
- What type of house is it?
- What zip code is that?
- Is it close to the water?
- What type of roof is there in the house?
- Is there a basement
- Is there a ceiling?
- How many square meters is it?
- Has it been renovated?
- What heat source is used?
Especially the year of the house and whether there is a cellar is an important factor. The reason for the basement is that it requires water damage. Water damage is probably the most damaging thing a house can experience, as it can destroy both the floor and the entire foundation, so the entire house has to be replaced.
Home insurance prices range between DKK 3,000 and DKK 12,000. And yes, it’s a big span. Therefore, it may be a good idea to check the prices of the research, which many sites on the net can help you with.
It just requires you to sit down, get into it and get a handle on it, so you don’t lose your business.