Souqalmal Founder and CEO Ambareen Musa lists the most commonly circulated misconceptions about home insurance and the need to fact check these before buying a home insurance policy.

Myth: Home insurance is the landlord’s responsibility…

False. Your landlord’s insurance covers the building or the physical premises and this is only a legal requirement where the property is mortgaged. This means that your landlord’s cover will not extend to your belongings which are present inside the house. It is your responsibility as a tenant to safeguard your belongings with home contents insurance.

Myth: Home contents insurance coverage extends to all my belongings…

False. While you may think that damages to everything present in your house can be claimed for, this is not the case. In reality all insurance policies have certain exclusions with respect to coverage. This means it’s wrong to assume that everything present in your house is protected in case of a calamity. It’s important to know what’s covered and what’s not.

For valuable items such as jewelry, expensive art, gadgets, etc. you will need to have the personal belongings cover in your home contents insurance policy. These will be covered up to a maximum limit as specified in the policy.

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