Besides your life, family and health, Home is the most precious asset you build and conserve. Home is always close to ones heart whether it is in mega polis or in a small town. No wonder, we spend 25-40% of our monthly income on our home sweet home, to ensure that it is in our ownership and safe at all times. But, surprisingly we mostly ignore to cover our precious home from Burglary, Flood or Earthquake that may render huge loss without warning.
Fortunately now, with the advent of New Insurance Companies, interesting and comprehensive plans are available in the market. You are welcome to compare them and buy Choice Home Insurance Policy from http://www.InsuranceMall.in . If you want to cover save your home in United Sates, then this click link is your solution - http://USA.InsuranceMall.in – Home.
I take this opportunity to quickly give you a broad definition and features of Home Insurance in India . Also you will find an interesting comparison on various plans available in Indian market. You are the best judge to choose which Insurance plan suits your need the best.
Home insurance policy available in the Indian market covers broadly 3 things:
· Building structure
· Contents inside the home
· Value Add (Table appended)
Insurance Covers for a Building Structure are:
· The Fire and Special Perils Cover
· Earthquake Cover: Covers damages to the structure of your house due to earthquake
· Terrorism Cover: Covers damages to the structure of your house due to acts of terrorism
Insurance Cover for Contents Inside the Home:
· This cover is only for damages or loss of the contents inside the home -electronic and electrical goods, furniture and fixtures, clothing, jewelry and any other contents inside the home.
This insurance policy (also called Standard Fire and Special Perils Policy) offers protection against the risk of loss or damage due to:
· Accidental fires, lightning, explosion and implosion due to pressure vessels
· By rioting mob, striking workers, malicious acts by third parties or terrorists
· Impact damage by any Rail/road vehicle or animal by direct contact
· Aircraft and other aerial devices
· Subsidence and landslide including rock slide
· Natural calamities like storm, cyclone, typhoon, hurricane, tornado and flood
· Damages caused due to bursting or overflowing of water tanks and pipes
· House Breaking & Burglary (Forced looting)
· Earthquake
The policy pays for the actual cost of repairs, replacement or setting up of the item lost or damaged. However, claim settlements are subject to the market value of the property damaged at the time of loss upon an overall limit of the sum insured opted.
Insurance Cover for Contents Inside the Home:
· This cover is only for damages or loss of the contents inside the home -electronic and electrical goods, furniture and fixtures, clothing, jewelry and any other contents inside the home.
This insurance policy (also called Standard Fire and Special Perils Policy) offers protection against the risk of loss or damage due to:
· Accidental fires, lightning, explosion and implosion due to pressure vessels
· By rioting mob, striking workers, malicious acts by third parties or terrorists
· Impact damage by any Rail/road vehicle or animal by direct contact
· Aircraft and other aerial devices
· Subsidence and landslide including rock slide
· Natural calamities like storm, cyclone, typhoon, hurricane, tornado and flood
· Damages caused due to bursting or overflowing of water tanks and pipes
· House Breaking & Burglary (Forced looting)
· Earthquake
The policy pays for the actual cost of repairs, replacement or setting up of the item lost or damaged. However, claim settlements are subject to the market value of the property damaged at the time of loss upon an overall limit of the sum insured opted.
To avoid any surprise at the time of claims, you must to put-in and declare full list of property to be insured with values (Clothes, domestic appliances etc.). As people use more and more electrical gadgets in search of a luxurious lifestyle, the risk from fire accidents have increased manifold. A fire insurance policy acts as the bulwark against such potential perils.
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