Protecting your house with the right insurance cover

HOME INSURANCE

PROTECTING YOUR HOUSE WITH THE RIGHT INSURANCE COVER A house is the most precious possession any individual has which is built over the years of hardwork, dedication, focused dream and sentiments. In today’s uncertain times, it has become important to protect your dream home from any natural or man-made perils.

So, you should buy a suitable home insurance policy that will safeguard your living and will offer sufficient cover to build a new one in case of any disasters calamities or mishaps. It is designed to anchor your pockets from shedding out that extra money in case of any emergency like a fire or burglary, etc

Home insurance is a form of property insurance being designed to protect your house in case of unpredictable events and natural calamities. This policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disasters listed in your policy. It is important that you purchase enough coverage to rebuild your home.

These insurance policies provide cover for household appliances including television, washing machine, refrigerator, jewelery and other valuables that are kept in the house. In some cases, even pets in the house, at the time of an accident or robbery are injured. Terrorism and catastrophic incidents also covered under some products.

Before you buy a policy make sure you understand the terms and condition well. If the insurance policy doesn’t meet your needs, your hard-earned money towards premium will also go on a toss. Read the exclusions and inclusions carefully. Damage caused by wear and tear, willful destruction of property or damage caused by war are usually not covered.

Home insurance offers a peace of mind, it gives a tremendous financial cushion in case of calamities. If the family is forced to relocate due to any accident, theft, other natural or man-made perils, the cost of the additional temporary accommodation is borne by the insurance company too. Apart from the terms, ensure that the compensation is inflation-adjusted

The premiums fall in a wide range depending on a variety of factors related to the size of the home, place of locality, age of the building, geographical location, type of construction, jewelery and other valuable possessions in the house. It is important to understand your income source and risk appetite before you opt for suitable insurance.

Inform the home insurance company or your agent immediately in case you need to make a claim the insurance policy. Submit a written claim document to the insurance company within the period stipulated. The claim document should contain a detailed account of the lost/damage property,Â

reports of natural disasters like survey reports, FIR’s in case of stealing or burglary, etc. On receipt of the documents, the claims department processes the claim. On approval of the claim, a letter is sent to the insured stating the approved amount of settlement along with the discharge voucher.

You can fill the claim form online and request the customer service department for the same. Do enter the appropriate details for easy evaluation of claim with correct contact details. Take your time, sit calmly and fill out the claim form carefully. Ensure that you don’t make any silly errors that will lead to the delay in your claim process.

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