Home insurance a blanket for your prized possession

shivani by shivani kapoor

Published Sun, Jun 25th 2017, 18:50 | Finance


With the passage of time our every interest fazes off and we find different object of interest. Before purchasing a home, you do every essential thing to get your home loan approved, you flow money like water to decorate and furnish your house with latest pieces of home decors, furniture and electronic devices. But do you take that much enthusiasm in purchasing an ideal cover to protect your prized possession from the damages caused to it by some future peril? In most cases the answer is NO. People are either reluctant or very confident about their future, that they are the chosen one who would be untouched by any kind of future or man-made perils. A proper home insurance you buy today can act as a blanket for your prized possession during the wintry days, when any unavoidable circumstance owing to any natural or manmade calamity may cause massive damage to your property.

When you look around there are many instances when you find towers are engulfed by the fires from short-circuits, or buildings crumbling down to heaps of bricks and concrete owing to earth quake or floods or houses being ransacked by burglars. Do you really think it’s very easy to begin from the scratch all over again? We guess you are wise enough knowing your financial profile that it’s next to impossible for common people like us to start from the scratch again. Buying an insurance cover for the property instead of wasting money in other unnecessary things can create a great difference in hour of your need.

A basic Home Insurance cover can protect your building from the damages caused by fire, natural calamity or man-made ruckus. A comprehensive cover with add on(s) can protect the structure along with the contents of the house. So add on(s) even provide third party cover in case of damages to property or life caused by your insured home.

Before buying an insurance policy we should keep some basic things in mind like: location of our house, depending on the area the cover must be decided; contents of the house must be considered. If you are living in a peaceful and safe place then the man-made peril covers can be excluded, well equipped with security features may not require burglary cover. Your discretion may help you to craft your cover according to your needs.

The premium cost may be lowered with the following factors like:

·        If you are ready to share the liability then take a cover for lesser amount.

·        Cover only the required items depending on the depreciating values of the contents of the house.

·        Installation of safety equipments may reduce the premium cost.

·        Compare the policies online and get suitable quotes from a reliable & established insurance firm.

Only a proper blanket can reduce the chills of winter, similarly a proper cover for your house can reduce your financial burden in reinstating your property. Instead of a market value cover take a reinstate value cover to build your house from the heap once again. Before fixing the company, read the documents properly and consider the claim settlement ratio figure, it will help you to get the assurance from a reliable firm. 

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