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Home Insurance: The Best Safety for Your Home

Posted by Royal Sundaram on 31 Oct 2018


Having a home to call your own is one of the most important achievements in everyone’s bucket list. A home is an invaluable asset that you love and care for, no matter what. It becomes our sanctuary when times are tough, and a place for celebration during good times. Our home is the place we trust will keep us safe and secure. So it becomes our duty to insure our home and protect it from any harm.

To safeguard your home in the best possible way, you need to invest in a home insurance policy. A home insurance policy is an agreement between the insurance company and the policyholder, wherein the latter pays regular premiums in exchange for a financial cover to protect their property against unforeseen circumstances. Under a home insurance policy, the insured property is financially protected against any accident or damage caused by natural or man-made causes, such as floods, fire, storm, riots, burglary, etc. If the policyholder suffers any loss during the term, the insured company is liable to pay out a suitable reimbursement.

There are many benefits of buying a home insurance policy. Read on to know more:

  • * You get comprehensive coverage to protect the contents of your home, as well as the structure. Any personal belongings or money lost can be reimbursed, if your policy allows for it.
  • * With a home insurance policy, you can secure your assets at a lower premium rate than other insurance policies.
  • * Timely claim settlement allows you to rebuild or repair your property without emptying your coffers.

The market is filled with a variety of plans, customized for different purposes and needs. To ensure you get the best one for yourself, remember to compare multiple policies online before purchasing one. These factors described below should help you make the right decision:

  • * Coverage: If the property is one that you own, it’s sensible to insure the structure as well as the contents of the house. However, if you’re living in a rented property, it is more prudent to cover just the contents of the house. When choosing coverage, ensure you make the calculations based on the cost of rebuilding the property, and not its market value.
  • * Inclusions/exclusions: Read the list of inclusions and exclusions very carefully. Most companies offer insurance based on similar factors. See that your policy provides coverage against maximum natural or man-made causes.
  • * Claim settlement process: Read and acquaint yourself with the claim settlement process thoroughly. This way, you can avoid any hassles later.

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