Home Insurance- Hazard Proof your Cherished Abode

When it comes to definitive life milestones, owning a home of one's own features very high on the list. However, as is the case with almost everything that we hold dear, accidents (both man-made and natural) can make a costly dent on the surface of these perfect accomplishments. While matters of the heart and soul need a deeper understanding of your own place on god’s green earth, the unfortunate accidents impacting your dream home can be powerfully addressed with a full fledged home insurance policy. As the name implies, a good home insurance policy saves you from the financial contingencies that result from natural or man-made situations that adversely impact your cherished abode.  

Accept it. You need Home Insurance.

Compared against other insurance and banking products, home insurance is a definite backbencher. This is a strange pill to swallow, considering that the home insurance policy provides protection to the single biggest investment that most of us are likely to make in our lives. Thus, it might be expected that a large chunk of home owners will impulsively subscribe to this, however, that isn’t the actual case. Expounding on this, through the 2010-11 fiscal year, all the home insurance companies in India could only manage to sell a paltry 40 lakh insurance policies. The situation hasn’t improved much in the succeeding years. How can we, as a collective people, be so near sighted?

For most Indians, owning a home is a major financial commitment. And, unfortunately, if any intentional/ unintentional calamity were to cause any type of damage to their home, the owners stand to lose a lot of money. Home insurance ensures that this isn’t the default case. Just as in the case of any other insurance product, a robust home insurance policy offers your home, protection against a wide range of negative situations while helping you enjoy peace of mind.

House Plus Property- And Light on the Wallet

A standard home insurance policy affords comprehensive protection against a wide range of natural and man-made calamities to both the house structure as well as the inclusive and surrounding property. This is a crucial categorization as certain hazards like floods and fire are more likely to damage the attachments, furniture, etc. that are counted as inclusive property rather than the structure of the house itself. The really empowering factor concerning home insurance policies is the inherent costs involved. The premiums don’t strain your wallet much whilst ensuring that you are covered against a whole gauntlet of possibilities- fire, burglary, floods, weather related damages, etc. A recent estimate, when comparing home insurance offerings from various companies, placed the cost of insuring the contents of your home, worth Rs.10 lakhs, at a megre figure of just Rs.255. That definitely sounds like a profitable deal.

Add Ons and Specializations- Finding the Right Combination

Insurance companies offer a number of super-specialized products under the larger home insurance umbrella. Products such as Burglary cover, Jewellery cover and Quake cover offer niche protection that may just be sufficient (without subscribing to the comprehensive policy) or may be valued addition to the larger policy. When speaking of your dream home, why take a chance? Home insurance, with all its bells and whistles, is a definite requirement. Get your policy today!!