Have you secured your dream home? Whether you are a new home buyer or if you own a home, the right thing to do is to buy a home insurance policy. It offers comprehensive coverage, indemnifying you against loss or damage to your home and the possessions contained within. Fortunately, there are a lot of reputable home insurance companies for you to choose from.
Why Home Insurance?
All disasters, both natural and man made result in loss/damage to homes and families. A home insurance policy offers protection from natural causes like lightning, floods, landslides, earthquake, storm, cyclones. It also offers protection man-made causes like riots, theft, explosions, leakages, missile testing and other such acts with malicious intent.
It is better to be safe, than sorry. With the coverage offered by a home insurance policy, your home as well as your treasured possessions are well protected.
The benefits of a home insurance policy include:
● Covers the financial liabilities that arise in case of damage to the house and the contents inside it.
● Additional coverage from earthquakes, floods, burglary and theft.
● In case of loss or destruction, the payout from the policy will help you to rebuild your home and reacquire your possessions.
Home insurance companies are offering a wide range of policies to suit individual requirements. Most homeowners prefer to choose affordable premiums that offer comprehensive coverage.
You can choose from some of the top plans outlined below and secure your dream home.
HDFC Ergo Home Insurance
This home insurance plans by HDFC are flexible to suit customer requirements. It offers plans that cover the risk/loss due to fire, flood, theft and burglary. There is a choice of two plans based on the structure insured:
● Building: Includes coverage against fire and other perils.
● Contents: Coverage includes burglary and housebreaking.
Also, here are some of the features:
● It is considered as one of the best among insurance plans, and you get a long term coverage of up to 5 years.
● You also garner close to 25% as discounts on the premium payable.
● A further discount is also available in case you have security systems installed in your home.
Bharti AXA Home Insurance
It offers two levels of coverage against, fire, burglary and other perils.
● Basic insurance cover offers protection for the building structure and the contents. The other plan is basic cover plus burglary insurance.
● Your valuable personal possessions, furniture and appliances are covered under this plan.
● It also covers loss/damage of household goods that could occur when they are being transported.
● The best part is that you can insure your home for as less as Rs. 250 per year.
ICICI Lombard Home Insurance
ICICI Lombard has two plans that offer all-inclusive home insurance coverage.
Structure Cover
● It is a plan that covers the entire building structure.
● Policy coverage extends to ten years—during which compensation would be paid for loss/damage due to natural or man made factors.
Content Cover
● It is available for five years for both owners and tenants.
● This plan offers protection to all household contents that include furniture, jewellery, electrical appliances, and electronic gadgets.
● Additional cover, be taken for protection against terrorism, and alternate accommodation.
Bajaj Allianz: My Home Insurance Cover
This complete risk protection policy is comprehensive, offering protection to your home, and your possessions from fire, burglary and other natural calamities. It is a flexible policy that gives you the freedom to insure either the building structure, or the contents, or both. The policy also offers additional benefits for alternate housing.
When you buy home insurance, attach due importance to the following, so that you reap the benefits.
● The time period of the home insurance policy ranges from a minimum of one year to a maximum of five years. Be prompt with your renewal, to ensure better coverage and timely assistance.
● While there are multiple plans available, choose the right home insurance policy that meets your needs and fits your budget.
● If you’re a tenant, buy only contents cover to protect your personal belongings.
● Multiple apartments in a complex are covered by single policy. In case of damage, and subsequent claim, the composite rights of all the apartment buildings are transferred to the insurer.
Buying a home insurance policy should be your priority, as soon as you buy a new home. With a comprehensive home insurance policy in force, you can be at peace. To know more about home insurance policies, visit the Bajaj Finserv website.
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