Why You should Insure Your House?

01.  “A house is made up of walls and beams, but a home is made with love and dreams.” Dream house is what we cherish for whole life. A person works hard throughout his life so as to have a good long lasting house. There is no such place like home in the entire Universe. After all, it is a place where you, family and your loved ones can rejoice, weave thousands of memories that last a lifetime. We put our entire life’s savings into buying or constructing a home.

02. Natural calamities like earthquake, cyclone, fire or even manmade accidents like fire or events like burglary, riot keep on happening and if you are unfortunate you may loose your house either fully or partly.

03. By investing in a good home insurance policy, you can protect your home from such calmatives and accidents including situations like burglary, fire, earthquake or destruction of a house due to riots etc.

However one shouldn’t wait for a calamity to remind you the need of buying a home insurance. Most of the banks also while lending bill always asks for the insurance policy to secure the loan/property.

Courtesy - 123rf

3 Major Benefits of Home Insurance

It is therefore always advisable to have house insurance. Further, there are other benefits too when you insure the house.

  • You protect both content and structure of your home from risks that you insure.
  • Secure your assets from any mishappening.
  • Reduce stress and tension level as you’ll have a home insurance to fall back to, in the case of unforeseen circumstances.

Tips for Choosing a Home Insurance

There may be various home insurance providers in your nation that offer different plans as per individual needs.

Different Plans Of home insurance providers
Different Plans Of Home Insurance Providers
Courtesy - Shutterstock

To ease your selection, we have listed down important points which should be compared while choosing one home insurance company over other:

  • Check the Cost of Premium and Risk Coverage:

Firstly, assess risks which your home is facing or likely to face in a future e.g. if you live in an earthquake sensitive zone, you should cover your house against the hazards of an earthquake. For example, if you live in a flood prone area then you should ensure that your home insurance policy is covering those risks also.

Also, while checking coverage, it is prudent to check whether the premium is within your budget or not. You can solicit premium quotes of individual insurers or use comparison chart to compare premium quotes.

  • Check Claim Settlement Ratio:

A good company is judged by the turnaround time of settling claims. The very purpose of insurance will be defeated if you do not get a claim settled when it is required. One must not close the umbrella when it rains. So, it is worthwhile to check the claim settlement record of companies before selecting an insurance company.

  • Check Company’s Reputation:

The first and foremost characteristic of a good company is that it has the customer friendly team. Does your insurance company have competent customer service representatives who are capable enough to resolve your queries quickly? It is always important to choose a company who is well equipped to assist you at any point of time. Most people talk big when they want to sell the insurance and do not turn up in time of need.

Hence it is an insurance policy which will protect you from adversaries of nature and will let you sleep peacefully.






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