Home Insurance

For many people, home is the largest asset; so home insurance provides protection for this investment. It is therefore important to have adequate home coverage as in case of any loses under insurance can create many problems. Home insurance policy also provides coverage for furnishings, other structures on property such as swimming pool and garage. If you are living in a high-risk area home insurance does not cover natural disasters. Personal liability component is also a part of certain insurance policies. There are millions of companies providing coverage to homeowners. Always search online and ask for home insurance quotes from various companies. These quotes would help you in comparing rates of various companies and taking your decision. Go for that company that provides comprehensive coverage at lowest rates.

Types of home insurance policies

Building/Structure Insurance
 To buy this type of home insurance policy, you need to be a homeowner. Structural insurance generally covers damage caused to the home structure as well as outdoor structures such as garages, and sheds. 
Home Contents Insurance
A home content insurance covers damage/loss of your personal belongings such as clothes, furniture etc. This type of home insurance can be purchased even if you live in a rented space.

Importance of Home Insurance

Home Insurance policy is a fairly under-purchased product in India. This is despite the fact that there has been a remarkable increase in the number of home buyers in the country over the past few years. People tend to not purchase home insurance policy mostly due to high premiums, complex processes and lack of sufficient information.

Like most insurance products go, the value of a home insurance policy can only truly be appreciated when a misfortune strikes. Only, it might be too late by then. This is why, it’s always better to be prepared to safeguard yourself against any losses faced due to theft, fires or natural disasters.