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4 Reasons Why You Should Hold A Home Insurance Policy In India

By Author: Neha Sharma
Total Articles: 242
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Health, life and motor insurance are the three most popular insurance products in the market today. All of the three insurances help keep you and your property safe. While life and health insurance deal with you and your family’s financial security, motor insurance provides protection for your asset. However, you may be ignoring the protection of another vital asset in your life – your house.

Home insurance policies are extremely important, as it not only protects the structure of the house, but also the contents within it. Here is a look at the importance of home insurance plans in India.

1. Safeguard against liabilities
Your property insurance will cover you against injuries and other property damage inside the house. Furthermore, if guests or other parties suffer injuries while inside the house, you can claim help from the home insurer as well. Therefore, home insurance secures you against legal liabilities as well.

2. Protection against both natural and man-made calamities
Your house is liable to undergo damage from a number of sources. Natural disasters, such as earthquakes, floods, storms can cause excessive damage to the structure of the house. Such events can even lead to complete destruction of the property. Apart from natural calamities, man-made activities can also damage certain parts of the house. Any damage arising from theft, burglary, and riots also come under the coverage of home insurance plans.

3. Temporary living expenses cover
In case of accidental damage to your house, you will need to initiate repairs to the same. Under such a circumstance, where extensive repairs are needed, you and your family may have to arrange for alternative accommodation. Your property insurance will cover for the extra expenses that you incur while staying at hotels during such repairs at your damaged home.

4. Cover for loss of precious personal belongings
Apart from the structure of the property, the insurance also covers the assets inside the house. For instance, home insurance policy covers the important papers and jewellery, along with all other precious items.
Therefore, getting your home insured is essential if you want to protect your family and your property from unforeseen dangers lurking around every corner. The policy will ensure that the home you built remains standing at all costs.

Author bio:
Neha Sharma is a finance student who loves to write in her free time. She has spent considerable time researching about home insurance. Through her work, she gives reasons why one should hold a property insurance policy

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