House Insurance
How to protect your home with insurance cover? Your house is like a heaven on earth. In life, people work hard day-in and day-out to finally build a castle of their happiness. A house owned is the most important dream of your life. However, natural calamities, or stealing and burglary are some of the incidences that don’t knock your door to damage your house or inside property. A home insurance is form of property cover designed to protect an individual's home against damages to the house itself, or to possessions in the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property.
There are mainly two types of insurance in India: Building insurance: A building cover is important part of house insurance. Most housing loan companies have made it mandatory for any project to have building insurance before they sanction any loan. This cover protects only the structure of the property. It insures the amount that you would need to reconstruct the house, in case damage is done to your property. Content insurance: This policy covers things inside the house. Many people keep expensive ornaments, gold and silver etc. in house. At this time this insurance becomes very valuable if there is any crime of stealing or burglary.
The amount of money is assessed as per either how much it will cost to replace it or according to its current market value. Besides, other than jewellery the insurance also protects your valuables against fire, theft, accidental breakage, damaged caused to electric appliances due to electrical and mechanical breakdown. Things to remember before you buy While covers and premium rates vary slightly from insurers to insurers, shopping home insurance is not very difficult. However, there are a few things you should keep in mind.
Service Level: Home insurance is very tricky concept. Although all policies might look identical it’s the service that makes them stand out differently. It will be wise to check the claim settlement procedure, simplified process and prior records of the insurer. A customer-friendly approach for reporting and handling of claims will be of immense help in the event of a loss. A person invests his or her life savings in buying a house therefore it is important to get it insured to protect your interest as an Individual/family, to protect yourself/in case you have taken housing loan and last but not the least to protect yourself from third party liability. [Source: http://checkthis.com/house-insurance]
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