Why home insurance needed? Why you required to protect your home?

Why home insurance needed? Why you required to protect your home?

Natural calamities cause great loss to people's lives and property. Natural calamities never come, it can sometimes come at any time. The incidents of natural calamities in India have been increasing rapidly for the last 10 years. Apart from COVID-19 in the country, various states of India have faced many natural disasters from cyclones, floods, and earthquakes in the past few months. India has had more than a dozen earthquake tremors in the last 2 months. Despite the best safety and security measures, the risk of theft, due to fire and natural disasters, always remains.

Whenever such natural disasters occur, apart from human life, they usually destroy other property with trees, houses, and vehicles. Even though such disasters are not under human control, any money assistance after damage caused by such incidents can help them recover rapidly. Home insurance secures your finances at the time of such disasters. If your home gets damaged due to natural calamity, with home insurance, you get financial assistance to deal with repair expenses. Various insurance companies give home insurance policies. Home insurance policy comes for a variety of homes. So, if you own a home, there is a different type of insurance for you. If you are living in a rented house, there are different insurance.

What is the benefit of home insurance, what happens to the cover:

Given the uncertainty of natural disasters, experts recommend that you should buy enough coverage for your home. Buy the policy not only for the house but also for household goods like furniture, electrical, mechanical applications, etc. Under the comprehensive home insurance policy, the insurer does not pay for normal damage, but the payment is made if natural calamities, including floods, earthquakes, storms, etc. If sometimes, valuable items are stolen, it is covered in insurance. In a natural calamity, if your house collapses or collapses, insurance companies give money for reconstruction.

In Add-On:

Home Insurance also offers add-on cover to customers to increase their policy cover. It is like life insurance, health insurance, and motor insurance. Many add-ons also cover situations such as natural disasters such as floods, hurricanes, and earthquakes. According to the expert, home insurance policies cover two categories: the first building structure and the second house valuables. The insurance company compensates most of the cost of construction costs on the loss of the house's structure in a natural calamity. If home valuables such as home applications, portable equipment (cellphones, laptops, and TVs) are also covered, you do not have to incur any financial losses after arson, theft, and burglary.

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Image credit: indiatoday

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