All posts by Arjun Iyer

What Happens After a Home Theft? How to File a Claim

Someone has broken into your home. No matter what was taken, you now are faced with a feeling of personal violation. And, you have lost important valuables. When this happens, your home insurance is there to help you. If you have a home insurance policy, and that policy is a good quality, it can help you recover some of the financial loss associated with this type of situation.

How to File a Claim

The first step in filing a home insurance claim is to create a police report. Your insurance company needs to know that the appropriate actions have been taken to ensure any theft is documented. It is then necessary to call the insurer to request help through the process. It does not have to be difficult, but you will need to provide detailed information about what happened and what was stolen.

Proving Ownership Is Important

One of the key steps in the claim process is proving ownership of what you lost. The best way to do this is to be proactive long before the theft occurs. That is, have a home inventory conducted. This will provide an opportunity for the home insurance company to have photos or at least a list of the items you own including a description and a value of that item. For high-end items, having a receipt from the purchase can help to verify your ownership.

How Much You’ll Receive

Once all documentation of the incident is submitted to the insurance agent, the agent will process the claim. Keep in mind that even the best home insurance policies have limits on the amount of coverage they provide. Your policy will list specifically:

What types of items are covered – including personal items, home furnishings, and items belonging to another person
What amount of total coverage you have – the maximum amount the policy will cover for all items lost in one claim
What the per-item limit is – some policies limit how much the policy will cover per item lost
If you have highly valued items, such as high-end electronics or an art collection, be sure to inform the home insurance company of this item at the start of your policy.

With the help of your home insurance agent, you’ll find the process of filing a claim rather easy. And, once you work through the process with an agent you trust, you can rest assured that such a loss can have a positive ending.

Property Insurance Coverage: Which Assets Are Protected

The investment in home insurance is an important, and big decision. Many people believe this is the type of policy that protects only their home’s structure. While it does offer protection for the structure’s walls, most policies go further, providing ample protection to the homeowner for his or her belongings. Fires, theft, vandalism, and even storm damage can cause a significant amount of financial loss without the right home insurance plan. What types of coverage should your policy provide to you?

Protecting the Structure

Protecting the four walls of the home is the heart of any home insurance plan. This means the insurance policy will protect the actual structure in the event of an accidental and unavoidable loss. For example, if lightning strikes and causes a fire, this could damage the structure’s stability and overall integrity. The policy is likely to help cover the repairs and replacement of that structure depending on the amount of damage done. This may include making repairs to the walls, roof, flooring, and other structural components of the property.

Protecting What’s in the Home

Most home insurance policies also provide financial protection from losses of the homeowner’s belongings if and when the loss is a covered event. For example, that fire could damage your home furnishings, your electronics, your collection of valuable art and many other items within the home. The home insurance steps in to help pay for the repair or replacement of these items, in most cases. The policy will pay a value, generally about 10% of the value of the structural coverage to replace the contents of the home.

What About Outside?

Home insurance may provide even more help to the homeowner. That same fire can cause significant damage to the home’s landscaping, burning trees or damaging exterior lighting. It can cause damage to the existing structures on the property as well including outbuildings such as work-spaces, tool shops, and sheds. When this happens, the policy will cover the repair or replacement of those spaces or items up to the limits of the policy.

It is important for property owners to take a closer look at their existing home insurance plans to be sure they represent the home’s structure, value and contents accurately. Be sure it offers enough financial coverage (without a too-low limit) to ensure all of your assets are protected from all risks.

Does Car Insurance Cover Damage Caused by Criminal Acts?

You spend a great deal of your time working hard to earn a living, care for your home, and maintain your vehicle. When you find yourself the victim of theft or vandalism, you may easily become overwhelmed by the intrusion on your privacy and personal space. There is nothing that quite makes up for this type of loss from a personal level. However, your car insurance may help you overcome the financial cost that this inevitably leads to.

Are You the Victim of Another Person’s Poor Decisions?

Auto insurance provides financial protection for many types of losses. A key reason for having this type of insurance is to provide you with financial protection from losses you did not cause but could not have prevented. Most policyholders will have this type of insurance if they have comprehensive coverage on their vehicle. How can it help you?

You find someone broke into your vehicle. The thieves stole your electronics or other personal items stored within your vehicle. Your vehicle insurance will cover the contents of your vehicle up to a certain value.
Your vehicle is involved in a fire because of someone’s carelessness. Perhaps it was even an intentional fire started by a vandal. This could lead to a total loss for your vehicle. Your car insurance is likely to cover the loss up to the value listed in the policy. In some cases, this may include covering a totaled vehicle if it cannot be repaired.
As you enjoy an evening with friends, someone vandalizes your vehicle. Perhaps they damaged the paint excessively or dented the car. You file a police report. The good news is your auto insurance policy will likely cover this type of loss up to the value on your policy.
It is important to know that not all types of insurance provide this level of coverage. Work closely with your insurance agent to find the right policy for your unique needs. Be sure the value of the policy is enough to cover the loss of your vehicle in the event of a total loss.

Also, keep in mind that who causes the damage will matter to your insurer. If you are in an accident, for example, comprehensive coverage may not apply. Other types of coverage may, depending on the circumstances. It is very important for you to invest the time in finding the right insurance plan for your needs.

Investing in a Safe Home – Key Factors to Look for When Buying a Home

Choosing a home is often about buying one that fits your family’s needs as well as your budget. However, shopping for a new home should also be about choosing a home that’s safe. In fact, investing in a home with key safety features can actually help to reduce your overall home insurance costs. Take a moment to consider the safety of your potential new home. Could you find a home that’s safer or otherwise enhance the safety of it?

Learn About the Area

One of the most important factors to consider is the local community itself. Homes in a community with less crime will cost less to insure. Take the time to look for a home with low crime rates. You can often get this information online or through your local police department or housing authority. Purchasing a home in a neighbourhood known for its safety, on the other hand, can help you save money on insurance costs. That’s essential for today’s home buyer looking for affordable homeowners insurance.

What Features Does the Home Offer?

Once you find a home that’s in a safe community, the next step is to look for one that offers the safety features right for you. There are many simple things that can make a big difference in your safety. Consider a few key factors:

Does the home have an installed security system? Though this can cost a bit to install, it can enhance your home’s security significantly and give you peace of mind as well.
Look at the exterior of the home. Are the windows capable of being locked properly? If you walk around the outside of the home, is it easy for a would-be thief to get into the home?
Take a look at your home’s locks. In nearly all cases, you’ll want to replace them with new locks. However, you’ll want to choose a home with steel doors for the added protection.
Why should you consider these factors when buying a home? It’s simple. A home that has added security in a safe community is one that’s less likely to be broken into. You may always want to ensure it is fire-proof and protected from pests. This, too, can enhance your home’s overall safety. All of these factors can help to reduce the cost of insuring your home, too. Buying a safe home matters.

How Insurance Helps Protect Against Weather Damage

House insurance is a valuable investment. It can seem as though this type of purchase isn’t one that you need to make. After all, you do not file claims very often. In some cases, it is possible to reduce the risks your home faces on a day to day basis. You can take care to ensure it is safe from theft and that your belongings are secure. Yet, there are other situations where this just isn’t possible.

How Can Home Insurance Protect Against Weather Events?

One such event is the weather. Weather is unpredictable and, in nearly every situation, it is impossible to avoid the negative outcome that it brings. This is when home insurance becomes so important. Imagine the following situations.

A tree is struck by lightning, falling and hitting a home. The cost of the damage to the roof or other structures is often covered by home insurance.
That same tree is sitting in the yard and needs to be removed by a professional. Insurance can cover those costs.
A home is damaged when lightning strikes it, causing a fire to start. Home insurance can help in this situation as well.
Weather damage from a windstorm can tear through a home, damaging windows and the roof. Home insurance can help to ensure the home is safe and protected.
Hail damage strikes a home’s outbuilding or garage, damaging the siding or the windows. Many home insurance plans can also cover this type of loss, protecting the homeowner.
Weather-related damage can be significant or minor. Yet, making those repairs to make sure the home remains safe and well protected are often expensive. Without proper insurance, homeowners will need to pay for the damage themselves. This includes small marks on the siding to large fires that destroy the structure. With the right type of insurance coverage, though, the cleanup and restoration work can be helped by the insurer, up to the amount of coverage the policy offers.

Homeowners should take the time to ensure they have home insurance, but also make sure that they have enough coverage. Many policies have limitations and exclusions, or types of storm damage not covered. With the right level of protection and a sound understanding of what can be expected from any home insurance plan, property owners can feel better about their financial security whenever a storm rolls into the area.

The Importance of Earthquake Insurance

Earthquake Green Road Sign with Dramatic Clouds and Sky.

There’s nothing more worrisome and frightening than watching your home shake, your belongings fall to the ground, and facing the real fact that your loved ones could be hurt. An earthquake can occur at any time. There is little warning that it will occur and, even if there is some evidence that it will, there’s very little you can do to protect yourself, your family, or your home. In fact, the only way to minimize some of the financial risk you face is to have the right home insurance in place. Do you have earthquake insurance?

Examine Your Policy Today

The recent earthquakes in our area have done more than just shake the ground. They’ve also exposed the real need to update home insurance policies and business insurance plans to better reflect the ongoing threats in the area. Earthquake insurance is a key component to any structural policy, but it is not always included in a basic plan. Take a close look at your existing insurance plan to determine if you have this coverage or if you need to purchase a new policy.

Earthquake Insurance Offers Peace of Mind

The recent earthquakes in our area came as a surprise. Most people did not suffer any damage, but there is an ongoing risk that additional earthquakes can occur. Alpha Direct offers the support and guidance you need to protect yourself financially from these losses.

How can earthquake coverage help you?

Alpha Direct’s insurance plans cover damage to homes and businesses.
This covers cleanup efforts should damage be significant.
It can help to pay for all repairs necessary on your home or your business property.
It can help cover the costs of damage to the structure, foundation, windows, roofing, and much more.
It aids in helping you to recover from losses related to damaged and lost property and personal belongings as well.
Experiencing loss from an earthquake is a very real risk here in Botswana. That is why it is so important for you to have adequate insurance to minimize your financial losses. Most importantly, recognize that most property insurance plans can affordably cover earthquake risk – you do not have to pay significantly more to have this type of protection. Contact your agent at Alpha Direct to find out how you can protect against the risks of unknown earthquakes. Let our team help you to find the coverage you need today.

Risk Management At Your Home: What Liability Risks Are Present

Risk Management At Your Home: What Liability Risks Are Present
Risk Management At Your Home: What Liability Risks Are Present

There are many ways to protect your home. At the heart of the process is the need to protect the actual belongings you own including the home itself. Home insurance does that through property insurance. However, other risks exist for any homeowner including the risk that you could face a lawsuit if someone is hurt on your property and you are found to be at fault for it. This is why every property owner needs to have ample liability insurance.

What Are Liability Risks at a Home?

You may believe your home is safe. You take every step possible to keep your home safe including keeping it clean, organized and locked up. Yet, even in these situations, there are risks that homeowners cannot avoid that can lead to a sizable financial loss if a lawsuit occurred. Here are some examples.

A friend is visiting your home. He or she slips and falls on the flooring. This leads to an injury requiring medical care. Those medical bills are a liability to you that your home insurance may minimize.
Your child’s friend is visiting your home and falls. He’s hurt badly because of a hit to the head. He requires surgical procedures and a long hospital stay. Those may be your medical bills to pay as well. Liability insurance can help you here as well.
Someone comes to your home to make repairs. While there, the individual is hurt on the job. The company doing the work does not have adequate insurance in place. This leaves you, the homeowner, at risk as well.
It is important to take steps to reduce the risks in your home. You can do this by:

Keeping your home clutter-free.
Removing anything from the floor that could cause someone to be hurt.
Reduce risks outside as well, such as tree limbs hanging into someone else’s area.
It’s important to be vigilant about these risks of risks because they can lead to a significant lawsuit in many cases. Yet, you cannot prevent them all from happening. This is why your home insurance needs to also include a liability component. It needs to protect you from risks associated with what you cannot prevent from occurring.

When Should You File a Liability Claim on Your Home Insurance?

Alpha Direct offers flexible home insurance options.
Alpha Direct offers flexible home insurance options.

Making the decision to file a claim for a home insurance policy is not always easy to do. Many people believe that if they file a claim, their insurance will go up in cost. However, you’ve invested in this policy for a reason, to protect yourself from financial loss. This is especially true in liability claims. These types of home insurance claims can often be more expensive, especially when the incident is a negligence claim. Should you file a claim, then?

When to Contact Your Insurance Agency

If someone has fallen or otherwise been hurt on your property, do not delay in filing a liability claim with your insurance agency. Even if the other person has not brought any claims against you yet, you’ll want to keep your agent informed about what is happening and what occurred. They can offer outstanding support and guidance to you should you face liability claims down the road.

How Can Your Insurance Company Help You?

Let’s say someone is hurt at your home. They are in need of medical care. The costs continue to rise as their injury impacts their ability to work as well as their ability to care for their family. When you contact your home insurance company and file a claim with them, they will help you one step at a time through the process.

They can help gather information about the claim from the other person. This eliminates your need to do so.

They will pay for the costs up to the limit of your policy. In many cases, this can be a significant amount of money that you do not have to pay out of your pocket.
If the case goes to court for any reason, your home’s liability insurance helps to cover your legal defense against the claims made against you. And, if there are awarded damages by the court, the insurance company will cover those up to the limits of the policy.
Because of these benefits, homeowners need to have adequate liability insurance in place. The risk of something happening on your property is higher than you likely realize, but with this type of property protection, you are assured support throughout the process.

Choosing Property Coverage: Determining the Value of Your Assets

Keep your beautiful family safe by hitting the"Insure Home" button.
Keep your beautiful family safe by hitting the”Insure Home” button.

Homeowners need property insurance coverage for their home. Many factors play a role in determining which policy is best for your specific property. When you work with your insurer, ask key questions about what the policy covers and what it does not. One key question of concern relates to the amount of coverage the policy offers. Is it enough protection for your belongings?

How Much Do You Own?

A quick look around your home can show you just how many assets you own. If a fire occurred at your home, imagine what the damage could be. The structure is only one element. You would also lose the contents of your home including your personal belongings. The insurance policy you select should cover all of these items by providing a coverage limit that’s high enough.

To determine if you have enough property coverage, obtain an appraisal of your home and contents. It is important, at the very least, to estimate the value of your belongings yourself. A few key things to consider includes the following.

What is the cost to rebuild your home? Your home insurance policy should not be based on the resale value of the property, but rather on the actual cost to rebuild it. Rebuilding can be significantly more expensive than the current market value.
What are your belongings worth? Consider your clothing, appliances, home furnishings, and other valuables. Estimate a value of these items. While you do so, create a home inventory. Use photos or a list to write down a description of the item and an estimated worth. Add this up to determine if your property insurance offers enough contents insurance to protect you.
What high-end valuables do you own? Most home insurance policies have a per-item limit. If you have very expensive items, such as jewelry, antiques, expensive electronics, or other very valuable items, it is important to have a special insurance rider on your policy to cover the value of these items.
To have the property amount of insurance for your home and belongings, you need to take a closer look at your property’s value. Estimating these values can help you to make sure your policy offers comprehensive protection to you. Work closely with your insurance agent to ensure you have proper coverage at the best value possible. Don’t put your finances at risk because you don’t have enough coverage.

UNDERSTANDING SHORT TERM INSURANCE

Diversity Casual People Insurance Policy Benefits Help Concept

Alpha Direct Insurance currently offers short term insurance only. First things first, what is short term insurance? With short term insurance you are covering possessions for the shorter term. Remember that with any type of insurance cover, you are covering either a specific item or a specific eventuality for a period of time.
A short term insurance policy provides cover against loss, damage, liabilities and more.

To compensate coverage of a loss you suffered on your insured items, you will pay a monthly or annual premium to an insurance company providing you with cover. Calculation of your premium is based on your risk profile (age, gender, where you live, security measures, item insured, value of the item, claims history of the insured etc.)

High risk = high premium and low risk = reduced premium. Consideration of risk profiles is super important so as to avoid instances where low risk profiles end up subsidizing high risk profiles. You as the client deserve so much better and you most definitely need not to spend more than you should, hence Alpha Direct’s sophisticated underwriting system.

Alpha Direct’s short term insurance products include of the following;

• Household Contents
With this cover, we will cover your household contents against theft, as well as damage caused by a power surge or a burs geyser. Even damage to your contents due to fire, lightning storm, hail and flood is covered.

• House owner’s Insurance
This policy will cover the replacement cost of your house including outbuildings, fixtures & fittings, Swimming pools, perimeter walls against loss, destruction or damage arising from or caused by storm, fire, lightning, and flood.

• Personal All Risks Insurance
You’ll receive cover for items you take or use outside your house such as laptops, cell phones and any other valuables.

• Motor insurance
With this cover, you vehicle is protected from damage caused by accidents, theft and fire. Also, accidents caused by your actions to third parties are covered for.

• Fire insurance
Covers damage done to property, buildings and structures by fire, lightning or fire bolt & explosion.

• Workman’s compensation
This policy covers the legal liability owed to employees in terms of the Worker’s Compensation Act of Botswana arising out of and in the course of their employment.

And so much more including but not limited to;
• Third party liability
• Personal liability
• Fidelity insurance

As for the policy wording, it is analysed in conjunction with the policy schedule to determine cover, excesses, extensions, conditions and exclusions.