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Home Insurance Policy Coverage

By Expert Author: Pranav V Sharma

Home insurance is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory. Under such policies, if the insured property suffers any loss because of natural or man-made disasters, the home insurance company is bound to make good of the losses incurred. In either case, the maximum amount the insurance company pays does not exceeds the insured amount.

Home insurance policy covers:

Fire & allied perils

Domestic appliances - Burglary & Theft

Electronic appliances

Personal Accident coverage

Advantages:

Can be bought online

Affordable package premium

Combination of requisite covers

Easy claim settlement process

Go for online purchase:

The biggest advantage the online platform offers you is the ability to make any purchase decision in a simple and convenient manner. It caters to the need of trouble-free insurance. Buying your home insurance policy online is always preferable because:

You can buy the policy independently not being dependent on a third person.

Online purchase can be done within few minutes without any paperwork.

E-policy generated is a valid document and you can access this policy anytime and anywhere.

Another very important advantage is deciding the home insurance plan you choose to purchase after comparing the premium. Everyone wants to know the money to be invested before we click on the purchase button. The website links can give a clear idea in this regard.

Since there are a host of competitor websites available in for all searches, we can use this very effectively to make quick comparisons between cost and features of various home insurance policies. Reading and understanding the product features carefully eventually helps us to decide one that fits our need perfectly.

Hassle-free claim process:

Following are some important points to be noted while purchase of home insurance for a hassle-free claim:

A home insurance policy covers reconstruction cost in the event of any damage. So, insure your home for the right amount. Also keep in mind the forthcoming increase in construction cost also.

Never underestimate the value of your house; otherwise there is a possibility of not getting the right reconstruction cost.

Keep in mind that home insurance normally covers buildings made of cement, brick and stones and not any temporary construction.

Never underestimate or overvalue home contents, furniture, appliance, jewellery, electrical during declaration of insurable items.

Mark your belongings with the postal code or the house number. Take photos of objects which cannot be marked, like jewellery, etc. Keep the list with yourself or a give one copy to a trusted relative.

Make sure you renew your home insurance policy on time.

If you are constructing a new house or buying some treasured articles to your home, don’t forget to have a home insurance. It is neither expensive nor troublesome to purchase online.
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Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right Home Insurance policy in India & often shares his insights about the general insurance industry on internet.

Total Views: 62Word Count: 508See All articles From Author

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