Should I go for Home Insurance - 1

                         

                                              [Image source : flyingsparrow]

Just like our life our home is also very much close to our heart. Any theft, fire and allied perils, earthquake etc can cause damage to our home and home insurance can compensate for the losses if taken adequately. Insurance can be taken on the construction value of the home and it can be increased by certain percentage every year. Even the contents of the home can be covered and adequate coverage needs to be taken for every possessed item in the home. Home Insurance Policy can be taken for consecutive years or for the long term.

Home insurance policy contains;

Building Insurance – any damage to the buildings will be covered under this

Content Insurance – any damage to the content of the home will be covered under this

All risk cover – Anything just outside home will also be covered if this is chosen

Liability Insurance – Any injury arising out of your home will be covered with this

We can choose the policy having all these sections or the one which we want, further it can be also be taken by the people who are staying in rented house.

General Exclusions;

Ø  Damage as a consequence of war, invasion, act of foreign enemy, hostilities, civil war, rebellion, revolution etc.

Ø  Any damage due to confiscation, commandeering, requisition or destruction by order of any government or lawfully constituted authority.

Ø  Any damage directly or indirectly caused by or contributed to or arising from ionizing radiation or contamination by radioactivity.

Ø  Depreciation and damage caused by wear and tear or gradual deterioration.

Ø  Damage to property and contents due to pollution of any kind.