Home Insurance in India
Having a beautiful Home Is The Dream Of Most Of Us. We Often Renovate It, Hire An Interior Designer To Make It Look Lovely And Attractive. Moreover, We Feel More Comfortable And Safe At Home Than Anywhere Else! But, Is Our Home Safe And Secure? Confused? Don’t Worry! Let Us Tell You About ‘Home Insurance ‘, As It Is One Of The Best Ways To Protect Your Home Against All Losses And Damages.
Also Read – What is insurance? – Life insurance: General Insurance
Since A Home Is One Of Our Most Valuable Assets, One Should Always Ensure That They Insure Their Home. Home Insurance Provides Financial Protection Against Calamities And Natural Calamities. It Is A Policy That Combines Various Insurance Covers, Such As Contents (Theft), Loss Of Use, Liability In Case Of Accident/damage To The Home, Etc. Home insurance Policies Cover Losses Due To Both Natural And Man-made Disasters.
Home Insurance Is A Contract Between The Home Owner And An Insurance Company. The Insured Promises To Pay A Fixed Premium To Cover His Property Against Unexpected Losses (If Any). In Case Of Any Property Damage Due To Man-made Or Natural Calamities, The Concerned Insurance Firm Helps Cover The Loss.
Also Read – Types of Life Insurance Policy in India
Types of House Insurance – Building and Contents
There Are Two Types Of Home Insurance Policies, A Basic Building Policy And A Comprehensive Policy (Also Called A Homeowner’s Package Policy). Let’s Understand What Each Type Covers.
A Basic Building Principle
This Policy Provides Home/building Cover Against Loss Or Damage Due To Man-made Or Natural Calamities Such As Fire, Lightning, Storm, Flood, Strike, Landslide, Cyclone, Aircraft Damage, Riot Etc.
A Comprehensive Policy
This Policy Provides Cover For House/building Structure And Its Contents. Structure Insurance Covers Loss/damage To Home Structure Due To Natural Or Man-made Calamities, Such As Earthquake, Fire, Flood, Air Crash Damage, Explosion, etc. Contents insurance Covers Loss/damage Due To Theft, Etc. It May Include Valuable Assets Such As Jewelry, Paintings, Important Documents, Etc.
Also Read – What Does Premium Mean In Financial Terms?
Benefits of Home Insurance Policy
- Protect Assets From Any Loss/damage
- Comprehensive Coverage Of Both The Structure And Contents Of Your Home
- Financial Back-up For Any Unforeseen Circumstances
- You Can Always Be Stress Free As Your Home Is Safe And Secure.
Home Insurance Quotes
When It Comes To Property Insurance , Insurance Amount And Premium Are Calculated Based On Property Area, Property Location And Construction Rate (Per Square Foot). Mainly The Cost Depends On The Location, For Example, Construction Cost Is Relatively High In Metros. Also, Insurance Companies Usually Have A Fixed Rate Of Construction For Different Areas.
Property Insurance Claims
Claims Receipt Is Perhaps The Most Important Part Of Insurance. One Should Get A Clear Idea About The Clauses Mentioned In The Claim Process. At The Time Of Making A Claim, The Insurer Thoroughly Inspects The Loss Or Damages. Therefore, One Should Have All The Necessary Documents And Proofs.
Also Read – Life Insurance: A Detailed Overview
Home Insurance Company
These Are Some Of The Companies That Provide Home Insurance In India.
Home Insurance Companies In India
|HDFC ERGO Home Insurance||ICICI Lombard Home Insurance|
|ICICI Home Insurance Bajaj||TATA AIG Home Insurance|
|Allianz Home Insurance||BHARTI AXA Home Insurance|
|Future Generali Home Insurance||Reliance Home Insurance|
|Royal Sundaram Home Insurance||Chola Ms Home Insurance|
Our Home Is Probably The Most Valuable Asset In Our Life. As We Understand The Value Of Our Home, It Is Important For Us To Ensure That Our Home Is Protected From Any Loss/damage. So, Take A Step To Buy A Home Insurance Today And Keep Your Home Protected Throughout Its Life!