My friend was telling me about the renewal of his houseowner insurance when I asked him what is the difference between a houseowner insurance and fire insurance. As far as I know, my house is covered by fire insurance only and that also just increased its value a couple of years ago after I told my mother to now that we have so many more electrical appliances and electronic gadgets at home compared to the 70s.
My friend couldn't tell me the difference but I later found out that for fire insurance, it only consists of basic cover, fire, lighting and domestic explosion.
As for houseowner insurance, it has basic cover, fire, lighting and domestic explosion. In addition to these, there is also aircraft damage, earthquake, water damage, storm & tempest, flood, impact damage, theft & housebreaking, rental and public liability.
I think it's time to change my insurance policy from fire insurance to houseowner insurance. My current fire insurance policy expires in September, anyway.
My friend couldn't tell me the difference but I later found out that for fire insurance, it only consists of basic cover, fire, lighting and domestic explosion.
As for houseowner insurance, it has basic cover, fire, lighting and domestic explosion. In addition to these, there is also aircraft damage, earthquake, water damage, storm & tempest, flood, impact damage, theft & housebreaking, rental and public liability.
I think it's time to change my insurance policy from fire insurance to houseowner insurance. My current fire insurance policy expires in September, anyway.
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