So you have a car insurance, a life insurance, and a health insurance? Do you also have a home insurance? Well, the demand for home insurance has been growing by the day. It takes years to build a home, no matter, whether it is ancestral or recently purchased by you. A home is rather the most prized possession one has. Therefore, it becomes even more necessary to shield it from any external factors. Because simply painting it with the best colour is not enough!
In order to provide your home with the required protection, it is important to check for a list of coverage offered by the respective home insurance company selected by you. Take a look:
Most of the home insurance companies provide coverage in two forms, one is external and the other is for the content of the home, which is to protect the things inside it.
Restoration: This provides coverage on the basis of the restoration value of your home.
Fire and allied perils: In case your home catches fire or there is a natural calamity such as earthquake, or burglary or similar perils, your insurance will cover for the same.
Compound Wall and Landscaping: For those who have an independent home, you can opt for a separate sum insured for these two as well.
Escalation Benefit: Many insurance companies provide the option of escalation benefit annually up to 10 per cent for the complete tenure of the policy.
Damage to doors and windows: If doors and windows of your home have been damaged due to robbery or burglary, the insurance policy covers for the same.
Appliances and Jewellery: There are chances of your appliances being damaged or jewellery being stolen. A home insurance offers coverage for these as well.
Laptops and Mobile Phones: The home insurance plan provides a specific amount of coverage for these gadgets as they are quite expensive these days.
Temporary Resettlement: There are possibilities when the damaged caused to your home may not permit staying conditions. In this case, you can opt for a temporary settlement for which the home insurance provides coverage.
If you wish to opt for a home insurance, ensure that you have looked through the coverage carefully. The above mentioned coverage is also offered by Royal Sundaram.