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                                                 (A Life Time Decision)

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The future depends on what we do in the present.                      ... Mahatma Gandhi

Why Home Insurance ?

Img Area Home insurance is nothing but insurance of your property against any unforeseen evantuality. It is designed to protect an individual's home against damages to the house itself, or its possessions. Homeowner's policy covers multiple benefits, which means that it includes both property insurance and liability coverage, with a single premium to be paid for all the risks.It also insures liability coverage against accidents in the home or on the property.
Home insurance is meant for anyone who has a home whether own or rented.
Generally, homeowners insurance covers scenarios where loss could occur, but some options are typically excluded from policies, e.g. earthquakes, floods or other "acts of God" and acts of war.In case the homeowner wants to cover even these eventualities, he needs to pay extra for coverage of these options.
It is advisable that people, who live in such areas which are prone to earthquake, floods or other such areas must opt for these to have more peace of mind.

Important Points and benefits with Home Insurance, are mentioned below:

Types of Homeowner Insurance Policies:

Homeowner insurance protects your home from what is known as perils i.e. risk exposure for something that may cause total/part loss or destruction. Some of the important points, your home insurance policy should cover are:

This type of home insurance covers the structure of your house from any kinds of dangers and risks. In addition to this, the policy also protects any permanent fixtures within the house. This includes your kitchen and bathroom fittings, and also the ceiling/roof of the insured house. Some houses have garages, an outdoor room/house or sheds. This type of insurance usually extends to these structures as well.

If any guests or third party experience damage caused to them or their property inside the insured’s home, then this type of home insurance policy provides coverage against the same.

This type of home insurance covers you and your family. A compensation is given in case of permanent disablement or death of the insured person due to accidental or physical injury, even if it has happened anywhere is the world.

Burglary and theft may also be covered by the policy that may include stolen or damaged valuables.

All the articles/contents inside the house may also be covered by the insurance policy. The policy covers and protects such articles e.g portable equipment, jewelry, TV, Computers, Refrigerator, etc. on which you would have spent a lot of time and money deserve equal protection from any kind of untoward happening. This type of home insurance policy protects the goods inside your house from damages and loss owing to theft, fire, flood and other such mishaps.

If you are a tenant , you still need the protection and must go for such policy to cover any type of risk mentioned above.

In case you are the owner of that property , it becomes all the more important for you to have such insurance.This will enable you to take care of the maintenance and upkeep of the building/apartment/structure of the house (that you are renting out).
A standard buildings insurance policy usually aren’t exclusively designed for the need of landlords, because there are also other residents who live in the building. As a landlord you need something specifically designed for landlords. Hence, a landlords’ insurance policy is ideal for you and it also covers things like loss of rent and public liability.

While there are so many types of coverage as mentioned above, let us also be clear as to what is not covered in any homeowner insurance policy.These are:

N.B.: Please carefully study/understand all the options/offerings/benefits made by the Insurance Company, before deciding to go for it.