There is hardly any sane person who does not care about assets like property and jewelry. It is not every day that you will be investing in such assets. Once bought, they are deemed as a lifetime investment for most people. So, it is quite important to protect your assets, land or anything else from the dangers and risk of accidents, or even theft. There are many measures that you can adopt nowadays to ensure your property and assets stay safeguarded from hazards and unprecedented risks.
The Most Commonplace Natural Calamities Include:
- Cyclone, hurricane and heavy storms
- Snowstorms
- Earthquake
- Bush fire
- Flooding
Sometimes, occurrence of such natural disasters can also lead to severe damage to your property or asset or cause other accidents. For example, flooding can affect the electrical wiring in the house and lead to electrical accidents. Storms can uproot electrical poles and lines, leading to electrical accidents and risk of electrocutions etc.
Top Measures To Ensure Safety of Your Assets Is Not Compromised:
- Opting for the right property insurance-You will find so many types of insurance policies available for safeguarding your home and valuable belongings. Choosing the right insurance policy can be tedious for sure! Not all policies are same and nearly all of them have some areas of exclusions. This is what you need to be careful about. While the policy will fetch you compensation from most calamities it will not cover things specified as acts of god. Read the terms and conditions before paying for such a policy to safeguard your home.
- Choosing right insurance for assets- For some people, costly ornaments or appliances are also important and they insure those products. While it is quite safe to get these things insured be aware of the limitations. After using a product for several years, if it gets damaged by a disaster or fire, the insurer may give you a depreciated value. The same thing can be said about vehicle insurance.
- Opting for comprehensive policies- There are insurance policies that offer more value than others. You may find policies that also offer cover for personal accidents. You may need to pay an elevated premium, but get double benefits.
You can do some comprehensive research to find the policy and insure your house and products, as it is. You need to keep in mind that such policies will cover your assets for a period. There are websites where you can compare such policies side by side. You may also read user reviews of these policies online. This will simplify your selection. If you are in doubt, talk with an insurance agent or consultant before buying a policy. Talking to friends who have insured their homes and assets can also be of use.
Things You Can Do
While choosing the right insurance for your jewelry, appliances, vehicles and home is an important step, you can take some additional steps to bolster the safety level.
- Keeping documentation handy– You should keep all documents handy for claiming repairs. Apart from the policy documents, you should store each and every document, including receipts, warranty and repair bills for each insured product. It is even better if you scan them or take pictures and save on digital media. These will come in handy when you make claims for a damaged product.
- Reducing risk of electrical accidents- You can take steps that minimize risk of your assets getting damaged from unforeseen disasters to an extent. These can include many things. You may get the electric wiring of the house replaced with new fire retardant wiring as a precautionary step, for example. Using fire retardant materials in construction or renovation of the house can also be helpful. This can be helpful when you have high voltage appliances at home like an air conditioner. Using apt voltage stabilizers for high voltage appliances also minimize risk of a fire breakout caused by short circuit.
- Options for alarm-Installing a suitable smoke detector or surveillance camera can also be handy. It can alert you before a fire breaks out owing to multiple reasons and disaster may be averted. These are like small but handy steps that go a long way in safeguarding the assets and home.