Who should get Home Insurance and what all is covered?
Our home is always our go-to place for shelter and security. But do we do enough to protect our homes? Of course, we install heavy locks & alarms, but there is much more to home security than protecting it from burglary & theft. Natural calamities like floods, earthquakes, lightning, storms, and fires can prove a threat to your beautiful home. Home insurance not only pays for repairs & renovation but may also offer financial assistance to pay your temporary living expenses. All you need to do is pick the right Home Insurance cover to secure your home & its contents against any loss or damage.
Home Insurance for Homeowners
Whether you are living in the house or have given it out on rent, Home Insurance is a perfect way to secure your most expensive & cherished investment. If the house is just an investment, Structural Insurance is sufficient to protect it from internal & external damage. But if you live there, then a Comprehensive Insurance cover, securing both the structure & its contents, is advisable for you.
Home Insurance for Tenants
Well, you may be living in rented accommodation, but it is your furnishings & belongings that turn the house into a home for you. Be sure to buy insurance for your possessions against damage & loss from natural calamities and theft, respectively.
Home Insurance Coverage
There are various plans that offer different levels of home insurance cover. However, here are some of the main reasons that make home insurance indispensable for both homeowners as well as tenants.
Coverage against Natural Calamities
Unforeseen and uncalled for, natural calamities may strike our dwellings anytime. Floods, lightning, earthquakes, landslides, cyclone, and many such natural disasters may cause damage to both the structure & the contents of our house. In such cases, Home Insurance is your best partner as it not only pays for the renovation but also pays for temporary shelter during such a period.
Coverage against Thefts & Vandalism
Home insurance policies protect your furnishings and other belongings against thefts, vandalism, etc. and ensure compensation in case of such mishap.
Coverage against Fire
Be it an electrical short circuit, a cooking gas disaster, a fire can cause extensive damage to your property. Home Insurance policies offer protection to both the structure as well as the contents of the house against fire.
Coverage of Temporary Living Expenses
This coverage kicks in when a natural disaster, or fire, makes your home uninhabitable. It pays for temporary living expenses until the premises are livable again.
Coverage for Third Party Liability
In case of a fire or flooding in your house that causes damage to your neighbors’ property as well, Third Party Liability Insurance covers it for you.
Home insurance policies generally do not cover depreciation, negligent usage, and regular wear & tear of your home. Its advisable to read the policy document carefully and check out all the finer points to ensure maximum coverage. Or you can just reach us at insurance@suraksha.seahwk.com and we shall be happy to help you chose the most appropriate & cost effective policy to keep your home & its content safe.
