It doesn’t matter if we have a new home or a home passed on from generations, everyone loves the warmth of the place where they come back to relax after a hectic day at work. After all it is our home which provides us with shelter from external forces of nature. A factor that generally gets grossly overlooked is protecting the home with an insurance cover which would compensate in case of damage caused by an unforeseen disaster such as an earthquake, cyclone, floods, etc. or in case of a burglary.
What does Home Insurance protect against?
In general home insurance provides coverage against a wide range of risks such as damage caused by fire, burglary, explosions, riots, strikes, damages due to impact by aircraft, rail, road vehicle or animal, overflowing water tanks, lightning, loss caused by storm, flood, etc. Hence it would be evident that taking this kind of insurance would mitigate most common form of risks to property.
In addition, content insurance cover within a home insurance covers against mishaps caused to your household items such as laptops, television, home theatre, including the fixtures and fittings, etc. The insurance premiums for such cover is dependent upon multiple factors such as value of the property, location, crime rate of the locality, susceptibility of the location to hazards such as flooding, storms, damage by external factors, etc. There are many different varieties of home insurance covers available in the market and hence it becomes very important to read through the policy document to identify if a particular product would meet your requirements.