Home insurance policy offers protection to the structure and contents of the house in the event of any physical destruction or damage incurred to the house by any unavoidable perils. Home insurance provides coverage to a house and its contents against loss or damage caused by man-made (theft, burglary, strike, riot, terrorism, etc.) and natural calamities (flood, storm, landslide, etc.)
In recent times, the incidence of natural calamities, such as storm, floods and cyclones, have increased manifold. In the first half of 2020 itself, India has witnessed two cyclones – one each in the Bay of Bengal and the Arabian Sea. When such a natural calamity strikes, it not only damages the trees, vehicles and external properties but also ends up damaging several houses. Your house is one of your most prized possessions and thus, you need to protect it against any loss or damages arising out of such natural calamities. If you have a house insurance policy, your house will be protected from all kinds of unforeseen dangers, including storms, floods and cyclones.
Home insurance will provide you cover against any ‘Acts of God’. Moreover, even with the latest safety equipment accessible in the market, there are chances of burglary or robbery taking place. Therefore, it is essential to take extra care and opt for house insurance policy coverage, which will provide you cover against any damage/loss incurred due to any natural or man-made calamity.
Stay insured by opting for house insurance for a longer period in a hassle-free and cost-effective way. Home insurance is popularly known as homeowner’s insurance. It is a sort of property insurance covering private residence.
Having property insurance essentially assures you of security and certainty in an otherwise uncertain world.
By investing in a good home insurance policy, you can protect your home from threats. Do not wait for a calamity to remind you of the need for buying property and casualty insurance opt for it beforehand!
Benefits of Home/Property Insurance
There is no denying of the fact that house insurance is necessary; however, there are other benefits of buying the best home insurance policy. Have a look below:
Types of Home Insurance Policies
To meet different requirements of customers from every walk of life, the house insurance providers in India offer various insurance policies.
The various types of house insurance policies help the customers to comprehend the importance of having an insurance policy and zero down a policy on the premise of the specific requirements.
Standard Fire and Special Perils Policy
This is one of a kind of property and casualty insurance policy, which is offered by most of the property insurance providers within the country. It offers protection against special perils and fire-related outbreak.
The owners of a house usually buy this policy or the tenants as the situation may be. A Standard Fire and Special Perils essentially provide cover to home against any loss/damage incurred due to any natural calamity such as earthquake, volcanic eruption, etc man-made calamity, any missile testing operations, overflowing of water from tanks, pipes, and so on.
Public Liability Coverage
A home is a place where you reside and it is obvious that your friends or relatives will visit you.
On the off chance, there is a possibility that any of the guests or any third-party may encounter any loss or damage caused either to them or the property within the insured’s house. Under such circumstances, this house insurance comes at your rescue.
Building Structure/Home Insurance
This house insurance policy offers protection to the structure of your home from any hazard or perils. Besides, it also provides a cover against any damage caused to the permanent fixings of the home such as fitting in the kitchen, washrooms, ceilings and so forth.
Of course, there are houses, which have garages or rooms/shed on the outdoor premises. This type of property insurance also provides extended cover to such structures as well.
Burglary and Theft
In case of any robbery or theft that happens in the insured house causing damage to the contents present in the house, this house insurance policy provides cover for the equivalent.
Personal Accident
This house insurance protects you and your family. In an unfortunate event such as an accident or any physical injury incurred anywhere across the globe, which led to a permanent disablement or demise of the insured person then the compensation for the same shall be provided.
Contents Insurance
Remember, buying this house insurance assures that not just the house beside every content present in the home is valuable and it protects the goods from any damage or loss under perilous situations like fire, theft, and so on.
Right from the refrigerator, television sets to any important document are covered within this house insurance policy. When the interior of your house is destroyed due to mishap such as flood or has been burnt to ashes under a fire outbreak this house insurance will provide you with a cover.
Landlord Insurance
If you are a landlord, you need to maintain the building/flat and its structure. It is a big responsibility.
Besides, a standard building insurance policy is generally not designed catering the interest of a landlord. So having this house insurance policy is necessary, as it will protect you from any loss of rent or public liability.
Tenant Insurance
If you are, tenant it means that you might be residing in a rented flat or house. Therefore, if you are a tenant, opt for choosing a cover for the content that belongs to you.
This house insurance is a necessary buy for every tenant.
Types of Insurance Plans
Car Insurance
Car Insurance is a type of vehicle insurance policy that protects your car & car owner from any risks & damages that may lead to financial losses.
Travel Insurance
Travel insurance provides comprehensive coverage against things that are likely to spoil your trip. It covers your medical expenses and other risks so that you can enjoy your trip hassle-free.
Life Insurance
Life Insurance is a financial product, wherein the policy holder and the life insurance company comes to an agreement.
Business Insurance
Business insurance coverage protects businesses from losses due to events that may occur during the normal course of business.
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