Home is the paradise on earth! Of course, it has a loving and caring family! You try every possible thing to make home a lovely place to live in. Why not take another step to insure it? Yes, you can protect your sweet home from vulnerable like disasters and natural calamities. Read through to get to know more details about home insurance.
What Is A Home Insurance Cover?
A home insurance is a cover that helps tackle financial setbacks occurring due to home repairs and replacement costs.
- A comprehensive home cover offers coverage to the structure of the house and internal repairs as well.
- Some covers demand extra premiums against natural disasters like landslides and earthquakes.
- Additional cover offers protection even from terrorism.
An ideal insurance is the one that covers all the above criteria at reasonable premium costs.
Who Can Get A Home Cover?
Both homeowners and tenants can buy a home insurance. Homeowners can insure the overall house structure, while the tenants can buy a cover for the goods inside the house.
What Is Covered In Home Insurance?
An ideal home insurance covers structure of a house and contents inside the house against
- Natural calamities like lightning strike, storms, cyclones, earthquake, flood
- Man-made disasters like aircraft, fire, riot, missile testing operations
- Theft and burglary
Add-ons through additional cover enhance basic cover by increasing the sum insured and covering valuables. Even jewelry can be covered against theft or loss, provided the valuation of all the insured items are disclosed in the form of bills and invoices to the insurer.
Exclusions include damage or loss resulting from
- regular use
- depreciation over the time
- damage due to invasion or war
- loss due to negligence
- damage due to over-usage
Different home insurance policies offer different benefits. It is essential to thoroughly go through all the terms and conditions of various policies before picking one. For more advice on personal finance reach us online at ArthaYantra.