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How is Home Insurance beneficial for you?

October 20, 2021

home insurance

Home is your most valuable asset. It is one of the largest investments people make in their lives. This means it is important to take a home insurance policy to protect your house if certain unforeseen acts occur. A home insurance policy protects you from potential financial devastation and can give you peace of mind. It secures your house and its contents from damages, loss and destruction to your building. Hence, buying home insurance is of utmost importance and here we tell you everything about what it is and how an insurance policy works.

Protection from Natural Disasters

In India, where natural catastrophes are so frequent and cause massive losses of life and property, the fact that you can even secure and protect your home with insurance is unknown to most people. Home insurance for Indian households shields your home against damages caused due to natural disasters. An insurance policy covers damages caused by earthquakes, lightning, cyclones, floods, fire, or any such similar disaster and against man-made hazards like thefts, vandalism, riots, etc. The Insurance protects even your additional structure along with your home like your garage, backyard, and fences.

Not Much Expensive

Buying a home is a big affair since you invest a lot of money in it. Additionally, you spent money on buying home appliances and furnishing. An important point to remember is an insurance policy provides coverage for items inside the house. Home insurance in India comes in the following variants – structure insurance, contents insurance, comprehensive insurance, and public liability insurance. As you can see, before buying an insurance, you can choose the best policy based on coverage features and premium rates. Insurance companies nowadays offer maximum discounts at the lowest premiums as much as possible. You should also check whether your policy covers alternative accommodation costs if your home is affected by any disaster and you can no longer live in your home. A policy saves you lakhs of rupees at very low premiums. So, investing in home insurance is highly recommended.

Provides a Peace of Mind

Losing a home that you worked so hard for can be very painful. Insurance policies are way of creating a peace of mind. Ask any homeowner, they will always say it’s a good idea to get home insurance as soon as you sign a contract to buy a house or apartment. If a damage occurs and you don’t have an insurance, you may have to pay out of pocket for repairs. As a worst-case scenario, you could end up losing your entire investment in the property including the elegantly customized home interiors. Keeping an insurance policy is a good way to ensure all your damages are covered in case any occurs.