A home insurance policy offers much peace of mind to the owner of the house. A house is a dream come true and one can only do so much to preserve and conserve its value. An adequate home insurance policy is the first step in that direction
A home insurance policy offers protection for structural damage as well as damage/loss of contents of the house. It covers against damage or loss arising due to:
- Natural Calamities
- Landslide etc.
- Man-made clamities
- Riots, etc.
Climate change has brought about stronger impacts from the nature off late. The cyclones in Bay of Bengal and Arabian seas undermine our large population centres. Earthquakes have been increasing in intensity and frequency. We need to be vigilant against these and a proper home insurance policy helps manage the risk to an extent.
It’s best to go for a comprehensive cover since that covers the house, additional built up structures on the premises, contents of the house, electrical works and so on, against a multitude of risk factors and calamities as listed above. Some people also opt just for fire insurance. However it’s advisable that one opts for a comprehensive cover. Premium rates are generally quite low and the peace of mind offered is totally priceless.