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Importance of Having a Home Insurance Policy in India

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Tue, 06/24/2014 - 16:30


Home Insurance

Home invites your life time savings and indeed is a very precious asset. It not only acts as your abode but houses your valuables and jewellery too. In addition it provides a sense of protection and security.

Taking into consideration the recent environmental changes and vandalism, your home can be shattered in a moment with advent of any natural calamity or man-made factors. The cost to rebuild the house would invite hefty expenses which would burn a hole in your pocket. But with the advent of home insurance companies you can breathe a sigh of relief as home insurance can help you come out of financial crisis in case of any exigency. The home insurance policies comes at a low premium and are easily affordable.

Before opting for Property Insurance plans it is essential to understand the nature of the policy and the extent of coverage offered. Below are some of the key points of home insurance:

Reconstruction cost: If any damage is caused to your house or property the insurance policy would pay for the reconstruction cost. The cost is determined by the area of your house multiplied by construction cost per square feet.

Protection of the assets: Home insurance policies cover the contents that are kept in your house. If some damage is caused to your house or the contents due to earthquake or fire break out or any other natural calamity, your home insurance policy would provide you the financial assistance.

Coverage for theft/burglary: The home insurance also provides coverage in case of theft. You need to declare your valuables for which you want to seek coverage for and they would be taken care off if stolen.

Coverage for jewellery: One of the most precious assets that is still housed by some people within the four walls is jewellery. Keeping this fact in mind, jewellery insurance is offered as a rider in the home insurance policy and hence can be covered under home insurance policy. In case, your jewellery is safe in the bank locker then you can do away with this rider and save on your premium.

Low premium for ample coverage benefit:Getting property insurance won’t tax your wallet, as a vital coverage to secure your home comes at a very economical price.

Basically, getting house insurance would help you keeping your home and your valuables secured. You can get Home Insurance Quotes online to know exactly the cost of insurance and the benefits.

Now that you are aware of the benefits, act prudently before it is too late and you end up losing your hard earned money.

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Bharti AXA General Insurance Company Ltd is a joint venture between Bharti Enterprises, a leading Indian business group and AXA, a world leader in financial protection.

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