Should I go for Home Insurance - 2

                         

                                                               [image source : destinyroseinsurance]

This is continuation of our last blog on home insurance, let us look at the benefits of having this home insurance with a case study

Benefits of Home Insurance;

Though there are several clauses which may be put in by insurance companies during claim, it is advisable to plan and make a point to ask each and every doubts or clarifications while you are taking this policy to your home. Any theft, vandalism, wreckage caused by riots, fire, explosion, flood, damage caused by any animals etc are covered under this policy.

Let us have a case study to understand how this Home insurance works. One of my friend had taken building insurance for his shop. He has taken this insurance only after first theft had happened. After taking his insurance again a theft had happened by breaking the main door and they had looted available cash in the shop. On checking by insurance companies they provided compensation for breaking the shop and not for the looted money as the cash box was not mentioned in the insurance policy.

Something is better than nothing and no one knows what will happen the next day, so it is better to go for comprehensive home insurance policy. Most important thing while taking policy is to get sum insured to the actual value, don’t under insure or over insure as during claim process they will be assessing the value of the building and component before paying the amount.

Who is offering?

      Almost all the General insurance companies in india are offering this insurance with varied                 features, choose the one which suits best for you and your home. Some of them are HDFC, ICICI,       SBI etc

Should I go for Home Insurance, definitely yes, but after careful analysis of your requirement for coverage