What to check before insuring your property

Property insurance protects your home, apartment or business premises against events that can cost far more than a year’s premium — from fire to flooding. Here’s what to look at before you sign a policy.

What the policy usually covers

• Fire, natural disasters (flooding, hail, storms) and earthquake.
• Burglary and vandalism.
• Liability to third parties — for example, flooding a neighbour’s apartment.
• Contents — furniture and appliances, with an extended-cover option.

What to watch out for

• The sum insured should match the property’s real rebuilding cost.
• The exclusions in the policy wording — not every loss is automatically covered.
• The deductible for certain risks, such as earthquake.
• Whether the policy also covers contents, if you need that.

If the property secures a loan, the bank usually requires specific cover — we check the requirements for you and offer a policy that meets both the bank’s terms and your own needs.