* Photo supplied. Protect your home: BF&M offers building and contents home insurance. It is always important to make sure that you are insuring your property for the correct value to ensure full protection if you should have a claim.
* Photo supplied. Protect your home: BF&M offers building and contents home insurance. It is always important to make sure that you are insuring your property for the correct value to ensure full protection if you should have a claim.
Owning a home is probably the biggest investment you will have in your lifetime. Because of this, it is very important to make sure that you protect that investment.

According to Andrew Hanwell, BF&M's assistant vice president of personal Insurance, most home policies are split up into two main sections: coverage for the building (the structure) and coverage for the contents (personal possessions).

"We cover both of these sections for basic coverage such as windstorm, earthquake, fire, theft, & lightening, to name a few, and also have some extra coverage that some may not be aware of," he explained.

Extra coverage

"We offer coverage for things like door lock replacement, loss of rent or the cost of alternative accommodation, contamination of the fresh water in your water tank plus more for no extra cost to you. If you insure your contents with us, you can extend the policy to include coverage for items you take out of the house on a regular basis (things like jewellery, cell phones etc.). This can be done on a Bermuda only basis, or worldwide if you prefer."

It is always important to make sure that you are insuring your property for the correct value to ensure full protection if you should have a claim.

"We can conduct a survey on your home at no charge to you where we work out the external square footage and calculate what the approximate rebuilding cost would be," Mr. Hanwell explained.

Insured value

"Your insured value should reflect this rebuilding cost. We also have guides to help you calculate the amount of Contents insurance you may need."

Mr. Hanwell added: "BF&M is the only local insurer with a fully functional website, www.bfm.bm.

"On our site, you can generate quotes, buy policies and pay bills 24 hours a day from the comfort of your own home. We can also electronically email your renewal notices to you, instead of waiting for them to arrive in the post. For our home insurance policyholders, we have a 24/7 claims hotline, as you may need us outside of normal business operating hours."