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5 Essential Covers That Every Home Insurance Should Offer

16 December, 2014

he strength of a nation derives from the integrity of the home.” – Confucius

Home is the first place where you would wish to return back to after a hard day’s work. It is the first place where you learn some basic skills to survive in this world. It is the first place where some of your treasured memories will be formed. However, what would you do if this dear place of yours was to be damaged by some unfortunate event?

Repairs of damages caused due to natural disasters like flood, rains, etc., or man-made apathies like riots, can burn a hole in your pocket. A home insurance plan offers protection against the financial impact of such damages.

A typical home insurance policy comes with numerous covers, which you can subscribe as per your requirements and convenience. Before you get confused about which cover to choose, take a look at these five essential covers.

1) Dwelling Cover
This is the most basic cover offered by any home insurance policy to its policy holder. This cover include reimbursement of charges incurred for rebuilding your home after the unfortunate event. It will cover charges of rebuilding wall, electrical wiring, plumbing, and other valuable electronic or mechanical appliances used at home.

2) Surrounding Structures cover
Under this cover, you can avail reimbursement for damages caused to detached structures such as garages, sheds, cottage, fences, or any other structure insured under the policy.

3) Personal Property Cover
If items of personal use such as furniture, clothing, sporting goods, electronic appliances, etc. were damaged during natural disaster or man-made apathy, then this cover will offer total or partial reimbursement for these lost goods.

4) Temporary Accommodation cover
Suppose you had to relocate temporarily from your home to some other place on account of damages caused to home, then the accommodation charges incurred due to such translocation are refunded under this cover.

5) Liability Cover
This cover offers reimbursement for settling legal costs incurred by you and your family, in case you and your family are responsible for causing third-party damages. Claims settled includes cost for dog bites, damages caused by water overflows, accidental fires, etc.

Disclaimer: The information provided here is to be taken for reference purposes only and not to be used for any medical, legal or other professional use. For any insurance product, please refer the policy terms and conditions before concluding a sale.