HOME INSURANCE
Each one’s home is special to them as their life revolves
around the home. Besides being a investment, home is a part of life’s journey. However,
natural calamities and man made dangers can threaten the security of the home. Home
insurance provides the financial support in case of any damage due to unforeseen
circumstances.
A home insurance is a type of property insurance that is
used to protect an individual’s home against damages such as fire, theft, etc. This
policy also provides cover against accident in the home.
Features of Home Insurance:
Comprehensive insurance coverage protects the home against damage
from fire, theft, storms, etc.
It covers the building and contents also
The value of home is calculated based on replacement cost
It has the option to add coverage for valuable personal
property like jewelry, precious stones, etc.
It has different optional coverage, so it provides tailor
coverage to suit the individuals needs and lifestyle
BENEFITS OF HOME INSURANCE
Protection against natural disaster: Home insurance helps
reimburse all such losses occurring due to home damage against natural disaster.
Coverage of Household belongings: The next big benefit of
home insurance is, protection of contents of the home. This insurance cover
guarantees against the risk of loss of household belonging due to any calamity,
peril or mishap.
Additional risks: Under home insurance, additional riders
are available for covering loss of expensive jewelry or in case anyone gets injured
on the property.
Coverage of damage: This insurance covers the damage to
home against fire or any other unwanted events. It also covers loss or damage
to personal property due to theft or other covered event.
Other benefit: A home insurance coverage includes more than
just the physical structure of the home. It may provide coverage for an
attached structure, personal property like furniture, electronics, guests, etc.
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