What is home insurance – Understanding the significance of home insurance

by Devika Pandit Insurance Experts

What is home insurance? It is important to know about the plan prior to actually buying a plan. This will help you get a plan that best fits into your needs and budget. So what kinds of home insurance plans are available in India?

Home Insurance in India

In India, home insurance plan is offered to homeowners to protect house structure and its contents. Since house is a place that ensures shelter for living, it is important to make sure the place is secured ideally.

Sometimes, unexpected accidents can turn these happy times into disasters. A homeowner must make sure it is protected from all kinds of problems and unforeseen situations. The owner undergoes financial losses and loses mental peace. An insurance plan will cover all kinds of financial loss and reduce the stress on the individual. This is the reason why home insurance is a basic requirement in India. With crime such as thefts and burglary on the rise in India and natural calamity that recently wiped off a significant portion of Uttarakhand, it is important to consider an insurance policy for home.

So what is home insurance?

These policies are designed in a fashion to cover damages due to natural calamities and varied other kinds of caused due to fire, riots, burglary etc. Some of the policies also cover contents of home including utensils, furniture, cloth, jewellery, etc.

All you need to do is buy a plan as per your specific requirements and financial plans. Remember you would require paying premium regularly to get the benefits. Know what you precisely wish to cover, what is needed, and how much you can afford to pay each month, quarterly, or yearly to get home insurance benefits. This is the best way you can buy the best.

Where to buy insurance plan for home from?

The best way to buy the plan is to go online. These days, most of the reputed insurance companies offer home insurance plans on the internet. They have official websites to help customers get details about plans and choose one that ideally fits their requirements.

Home insurance policy providers across India:

Here is a list of insurance companies offering home insurance and insurance on contents of home:

ICICI Lombard

TATA AIG

HDFCERGO

Bajaj Allianz