Posted by: islamicfinancingnews | May 17, 2014

Home Threats You Need To Cover

Everyone knows getting Islamic loan financing is the best way to stay Sharia compliant and away from riba, but there are some natural disasters you need to watch out for and be prepared to tackle when you buy a house.

• Floods. Once considered unusual in many parts of the country, floods are becoming more common and many homeowners don’t have the proper insurance to for sale signcover them when this natural disaster strikes.
• Mine subsidence. There have been a few documented cases where homeowners and sometimes whole villages have issues because their homes sit atop abandoned coal mines.
• Space Debris. Many homeowners might the surprised to find out their coverage actually looks after meteor and comet strikes as well as any space debris that can fall from the sky.

In the end, finding out what you are covered for is about using the same kind of due diligence you used to find out what kind of Islamic home financing product best suited your circumstances. Getting the right kind of insurance is an important matter and one you won’t want to leave on the back burner anymore than home renovations or fixing a faulty foundation.





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