Home insurance means to protect or safeguard your home from natural and artificial calamities. If there will be any destruction that owner of the policy will get the insurance claim. Some insurance companies never provide insurance claim if there will be any natural disaster like flood, earthquake etc so in this case policyholder has to purchase any separate kind of insurance policy. Home insurance policies are very important policies for every person because every person is having their home and it is the duty of the person to make their home safe and protected from the artificial miss happenings. It is very necessary for the person to understand home insurance policy before buying this policy.
What points should be kept in mind while purchasing any home insurance policy and we must understand home insurance policy:
- This point be kept in mind while purchasing any home insurance policy that the company which is assuring have good credibility in society or not.
- The insurance company is fulfilling your needs or not
- What are the norms of companies are you satisfies with them or not
- The insurance premium is affordable by you or not
- How much insurance claim they will give, they provide claims in natural calamities like floods or in earthquakes.
- This also an important fact that the policyholder must get the right amount of area covered not excess area is covered.
- Before purchasing home insurance policy, one should check the home insurance quotes on net and then compare. After taking decision which is best for home than apply for that.
These are the main points which one must consider before buying any insurance policy because if you will not bother these things before than it will become very problematic for and as well as for the company.now the question arises in our mind why this is compulsory to get your home insurance. You can live in a home which is not insured by the insurance company is it correct that where we lives that place will in case get any damage than what will we do in that case?
Home is the only place where we live. Some people spent their whole day in their home like –mothers, kids, grandmother, grandfather and many more. The working people also lives at home and spend their time after doing work and get relaxed at home many people says home is the best place to get relaxed and also says ‘Home Sweet Home.’ Therefore, it is necessary to purchase insurance policy for our home. If there will be any damage or any destruction than we can claim the insurance company. Home insurance helps us to get rid from the big loss like any damage due to fire or by anything. Home insurance policy helps the policyholder to get compensation against their claim. This makes your home safe and protected. This policy also helps in making your assets secure. Many of you has made your home with happiness and with many wishes so to maintain these wishes the owner of the home must take this policy to live happily at their home with their family without any worry. Homeowners have to submit their premium every month according to the rules of insurance company. This insurance policy also helps in taking loans against it.
We talked about it is necessary to purchase home insurance policy really it is our need. Yes, it is our need because :
- This policy is the need of you because until and unless your home will not be insured it will not be safe by any means.
- Home insurance policy helps the policyholder to get tension free that his/ her home is safe or not
- It compensate you if there will be any damage
- Helps when there is any damage at house and someone is injured in this case insurance company compensate for the medical
- Not only home it safeguards our precious assets placed inside the house as well
By the above points, we can understand the need of home insurance. Home insurance are branched into 2 types:
- Building insurance
In this insurance whole building is insured as if there will be any disaster or any destruction than it will get compensate. Before taking any insurance policy, one must check out the details that what policy the owner has to purchase. These insurance companies provide insurances in these circumstances:
- Due to fire
- Due to flood, earthquake, storm
- Accident and third party los
- Explosion of gas
- Overflowing of water tank
- Content insurance
Content insurance means insurance of those things, which are fixed at home like machines, equipments, movable and heavy goods. These insurance are very necessary for everyone to have commodities safe, which are placed, inside your house. This insurance gives value to the commodity and goods that are fixed at your home. In this insurance policy people can secure their valuable commodity like costly idols or kitchen equipments and many more. These insurances are claimed in certain circumstances –
- Due to fire
- Flooding
- Theft
- Explosion
- Damage due to home appliances
These are the two types of home insurance policies, which are selected by the policyholder that which policy he/she would like to purchase for their home. Therefore, it is necessary for every home insurance policy holder to understand the home insurance policy.
Now a day home insurance policy is increasing because everyone wants to keep their home free damage and if there will be any damage than it will help the owner to cope up the loss by claiming against the policy. Many people never bother that which type of home insurance they need they purchase home insurance policy without knowing which policy will satisfy their needs. It is very necessary to understand the home insurance policy. Therefore, it will help everyone to buy it according to the ones need and want.
Before purchasing any home insurance policy one must keep these points in mind that they purchasing the correct home insurance policy.