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Friday 27 May 2022

Info About Home Insurance- importance and Advantages.

 Info About Home Insurance- importance and Advantages

If i ask you the most precious material virtue that you are owning? Most of you give answer your home. Our house not only provides the facility to stay there but it is our expensive asset worth Lakhs or even in Crores.

The majority of homeowners fail to secure their homes many of them insure about  their cars but they skip the homes. It is because people do not consider the home as a subject of risks.

National records state that nearly about 48 Lakhs Indians suffer from natural disaster every year that caused damage to properties of  Rs. 64,000 crores. In India North and West parts are more prone to earthquakes which places over 200 million people at risk across 100 cities.

That's when  home insurance comes into place.  Home insurance is a policy that protects you from the financial demolition. When you lose the greatest asset in natural or man-made disaster. 

In this article we will provide you detailed information about home insurance - what is its importance and advantages.

What is Home Insurance?

Home is  the heart where home insurance policy helps you protect it.

Home Insurance are given several names  house insurance, property insurance, building insurance. It is an insurance policy that  protect your home from damage due to defined events that are mentioned in the document. Mainly these include fire, floods, storms, earthquakes. 

If your home gets damaged due to a catastrophe mentioned in the policy document, after that insurance company will provide you with a consolidated amount to cover the cover the cost of damages caused to your home. 

Adding more the home insurance policy protects you from legal liabilities if a visitor gets injured while visiting your home.


Situations in which Home Insurance offers Protection

There are various scenarios in which home insurance will help you:

1. After a home disaster:

Standard home insurance cover offers you lump-sum amounts for repairing and rebuilding your home after natural calamities like lightning, flooding, storms, cyclones, fire, riots and more.

2. Replacing the Damaged Appliances:

When you  take a comprehensive home insurance the policy also protects the home and its contents from the electrical/mechanical damages, robbed. To avail the benefit you have to ensure the items your house at the time of application.But you have to keep a copy of all the bills of the items you ensured.

3. Temporary Relocation

If at some times at the natural disasters severely damages your home then in such cases  you and your family members should have to search for another place for temporary houses till your home get repaired. The insurer covers along the cost of temporary relocation rent

4. Liability Protection

The insurance policies offer liability protection. It means if a visitor to your property gets injured on your property if you are liable to pay compensation to the injured visitor. With the home insurance the insurer takes care of the compensation for the liabilities due to third parties accidents on your property.

5. Higher Chances of Home Loan Approval

If you are looking to purchase your dream property on home loan then your granter apt to approve your home loan if you have insured the home. The insurance acts as the financial safety to the granter and it also provides financial stability in an unexpected loss/damage to your property.

6. Loss of Rent

It is an add-on cover that you purchase along with your standard home insurance plan. If the property becomes uninhabitable due to any damage/repair the insurer provides the compensation for the loss of rent. The cover of less rent is given till the property is repaired.

Top 5 Advantages of Purchasing Home Insurance

There is no regret in fact that the home insurance offers eminent  financial protection to all homeowners. Following we have provided what are the advantages that you enjoy when you take the home insurance:

  • Throughout coverage to your occupations inside the home and also the structure of the property. 
  •  Your home is secured from all-natural and man-made tragedy.
  • The premium insurance plan is lower than compared to the other plans.
  • Helps you and your family, relocate or repair and rebuild your home quickly, after a calamity and there are timely payouts of the compensation ang good amount of money.
  • You can reduce your tension and stress by knowing that your home is protected at all times.

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Important: Please always Check and Confirm the above details with the official website and Advertisement / Notification.


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