Protecting your Sweet Home with Home Insurance

Protect Your Home with Home Insurance

‘Home is where the heart is’, this phrase is very apt as our home be it big or small is where we find peace, comfort and relaxation. To own a home is everyone’s dream, something which we strive for after beginning a family, but are we doing anything to protect our home? To save our home from any unforeseen risks and perils, an insurance policy like home insurance for our home is the best solution.

Why you need a home insurance?

Due to any unlikely situation, natural like earthquake, tsunami, cyclone or man-made like bomb blast, riot, burglary your home and the entire contents in it can be instantly condensed to ashes. While it is an emotional as well as a financial loss, insuring your home for a small premium every month, helps protect and rebuild your home making up for the loss.

Features of home insurance

• Comprehensive coverage for your house and the possessions in it
• Additional coverage for theft and burglary is included along with full coverage
• Lower premium rate than any other insurance policy
• Less and unsophisticated paper works
• Coverage for up to 5 years for house

Coverage in home insurance policy

You have an option to either buy insurance for your home alone or for the contents in it or for both. In case of any natural or man-made calamity, having a home insurance policy covers:

Fire and special perils

• Fire, lightning, aircraft damage
• Riot, strike, terrorism
• Overflowing water tanks and pipes
• Storm, cyclone, hurricane, tornado, flood
• Earthquake, volcanic eruption, tsunami, landslide
• Damage caused by rail, roads, vehicles or animals
• Missile testing operations

Burglary and house breaking

• You can take coverage for the belongings in your house in case of burglary or theft. Even the jewellery and other valuables kept locked inside the safe within the home premises can be insured, if it was mentioned in the agreement while taking the policy.

Sum Insured for home insurance

The premium to be paid for home insurance is based on area of the house, location of the property and the construction rate. The sum insured for fire and special perils is based on the reconstruction value of the house in case of any loss or damage to the house and very often depends on square feet of house and construction rate in the locality. The sum insured for burglary and theft depends on the contents lost and its value in the market

Exclusions on home insurance

• Loss or damage to home caused by nuclear weapons or radiations
• Loss or damage to home caused by wear and tear as well as downgrading.
• Loss or damage caused by war
• Loss, damage or destruction caused due to any malfunction or over heating of any electronic equipment in the house.