It takes so much effort to find the house you wish to purchase, get all the legal procedures done, set up a home that you would love to get back to wherever on earth you are. Won’t it be a good move if you can secure the house structure and its contents from any odds that may happen without your control?
You wouldn’t want to suffer all kinds of losses if something or the other goes wrong, would you? How to secure your house? Well, home insurance is designed for just that!
What is home insurance?
Home insurance is designed to cover the damages suffered by your home, its contents, or both. If the damage is caused due to any event listed by the insurance policy, the insurance company will pay you for the loss.
You should know that home insurance comes in many variants to suit the coverage needs of homeowners from different localities and backgrounds. The premiums can be affordable. The policy will have a coverage period of one year; after which you can renew the policy. The coverage amount for such insurance depends on the value of the asset insured.
Types of House Insurance
What all are covered?
The damages caused to a house due to the following list of events are generally covered under home insurance:
What is covered at an additional cost?
While some events are covered by default under the home insurance policy, another set of circumstances are covered under additional cost. They are:
Why should you buy home insurance?
If you are still unsure if you have to buy home insurance or not, here are a few reasons that will list out the benefits of such an insurance policy:
Do you have house insurance yet? How do you feel about buying one?
For any clarifications/feedback on the topic, please contact the writer at apoorva.n@cleartax.in
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