Home Insurance

When deciding which home policy to shop for, coverage is amongst the foremost necessary factors. The policy you selected should provide coverage against all the risks that your home is liable to. You must ideally select a home insurance policy that provides comprehensive coverage against all perils.

Subscribing to a comprehensive home policy permits you to certain features :

• Complete coverage against monetary liabilities arising from the damage/loss of your home and/or its contents caused due to natural or unnatural reasons.
• 100% mental peace once there's a solid security to fall back on, mainly in these times of social strife and environmental upheavals.
• Applying for a home insurance policy is easy, the turnaround times are fast and most banks in India provide this dynamic product.

Before continuing ahead, one should familiarize with the terminologies associated with home insurance policy

• Ownership of property- To buy a house/property insurance, one should have a stake in the property i.e. it should be in possession of his/her own.
• Types of Home/Property Insurance- Usually in house/property insurance, there are 2 types. The primary one is "Standard fireplace and Allied Perils Policy". This covers perils the property is exposed to such as the fire, riots, flood or storm. The second type is "Burglary and House Breaking Insurance Policy". This mainly covers burglary or theft.
• How to fix total Insured value for home/property or valuables you own?- You will not like to underinsure your home because if you do, you may suffer great loss in time of causality. Thus, shopping for correct valued insurance is extremely important. There are two ways to identify it, namely market value technique and reinstatement value.

You must pay attention to free online home insurance quotes that help you in comparing policies available from top insurers. It will help you in choosing the best home insurance policy.

• You can compare home insurance plans from the top-most insurance companies within minutes
• You can buy the policy that fits your requirement within 5 minutes without much documentation
• Unbiased and specific home insurance comparison service
• Get the best quotes through our home insurance premium calculator
• We provide expert advice with related articles and news to keep you posted on latest development and plans by home insurance companies in India

There is no denying of the fact that home insurance is vital as there are several advantages related to purchasing such a policy. Have a glance below:

• Gives comprehensive coverage to content and structure of your home.
• Secures your assets from any mishappening.
• Reduces your stress and tension level as you will have a home insurance to fall back upon in case of any unforeseen circumstances.

A typical home insurance, provided by an Indian insurance firm, can offer the insured (house and its contents) protection against the following-

Natural Causes- Storm, Hurricane, Tornado, Flood, Earthquakes, Lightning, Inundation, Landslide, Rockslide, etc.

Man Made Causes- Explosions, Riot, Strike, Terrorist acts, Implosion, Malicious harm, Missile tests resulting in harm, Leakages, etc.

The premium quantity applicable to the subscriber is determined by two factors- 1) Place of the insured property, and 2) Applicable tenure of insurance. Ideally, home insurance will stretch from a minimum of three years to at most thirty years. Again, these conditions are specific to the house insurance underwriter in question. Compare plans online on PolicyX as it will help you in choosing the best home insurance policy that can save a large amount of your money in case of a mishap

PolicyX.com is an IRDA registered portal and follows the norms for accurate and reliable home insurance comparison

• Compare Home Insurance absolutely free of cost at PolicyX
• Provides instant quotes from leading brands in India
• Buy home insurance within minutes by filling up the online form. Most of the plans are available online and you can get your policy instantly by making an online payment.

A good home insurance provides protection to your house against unforeseen calamities. The basic inclusions and exclusions are as follows-

1. Is home insurance completely necessary?

While not mandated by law, a comprehensive home insurance protects your cherished home and its contents against most types of threats and contingencies. However, purchasing the same will help you in avoiding monetary liabilities and revel in peace of mind.

2. I purchase a terrorism cover? I live in a secure part of India.

Basically, a terrorism cover insures your home (with its contents) against damage/loss caused by acts of terrorism. It is an optional cover that you can buy if you wish. Regardless of wherever you reside in India, acts of terrorism can find its ways to your home. Be ready for all such eventualities, with an awfully nominal increment to your applicable premium.

3. What is the loss of rent cover?

Loss of rent clause can cover the financial loss that the owner may suffer once tenants doesn’t pay rent any longer due to any reason

4. What is Temporary relocation cover?

Temporary relocation cover is the amount that the insured can get if their insured property is becomes uninhabitable and that they need to relocate temporarily to another place.