Protecting your house with the right insurance cover

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HOME INSURANCE
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Protecting your house with the right insurance
cover
A house is the most precious possession any
individual has which is built over the years of
hardwork, dedication, focused dream and
sentiments. In todays uncertain times, it has
become important to protect your dream home from
any natural or man-made perils. So, you should
buy a suitable home insurance policy that will
safeguard your living and will offer sufficient
cover to build a new one in case of any disasters
calamities or mishaps. It is designed to anchor
your pockets from shedding out that extra money
in case of any emergency like a  fire or
burglary, etc
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Home insurance is a form of property insurance
being designed to protect your house in case of
unpredictable events and natural calamities. This
policy pays to repair or rebuild your home if it
is damaged or destroyed by fire, hurricane, hail,
lightning or other disasters listed in your
policy. It is important that you purchase enough
coverage to rebuild your home. These insurance
policies provide cover for household appliances
including television, washing machine,
refrigerator, jewelery and other valuables that
are kept in the house. In some cases, even pets
in the house, at the time of an accident or
robbery are injured. Terrorism and catastrophic
incidents also covered under some products.
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Before you buy a policy make sure you understand
the terms and condition well. If the insurance
policy doesnt meet your needs, your hard-earned
money towards premium will also go on a toss.
Read the exclusions and inclusions carefully.
Damage caused by wear and tear, willful
destruction of property or damage caused by war
are usually not covered. Home insurance offers a
peace of mind, it gives a tremendous financial
cushion in case of calamities. If the family is
forced to relocate due to any accident, theft,
other natural or man-made perils, the cost of the
additional temporary accommodation is borne by
the insurance company too. Apart from the terms,
ensure that the compensation is inflation-adjusted
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The premiums fall in a wide range depending on a
variety of factors related to the size of the
home, place of locality, age of the building,
geographical location, type of construction,
jewelery and other valuable possessions in the
house. It is important to understand your income
source and risk appetite before you opt for
suitable insurance. Inform the home insurance
company or your agent immediately in case you
need to make a claim the insurance policy. Submit
a written claim document to the insurance company
within the period stipulated. The claim document
should contain a detailed account of the
lost/damage property, 
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 reports of natural disasters like survey
reports, FIRs in case of stealing or burglary,
etc.  On receipt of the documents, the claims
department processes the claim. On approval of
the claim, a letter is sent to the insured
stating the approved amount of settlement along
with the discharge voucher. You can fill the
claim form online and request the customer
service department for the same. Do enter the
appropriate details for easy evaluation of claim
with correct contact details. Take your time, sit
calmly and fill out the claim form carefully.
Ensure that you dont make any silly errors that
will lead to the delay in your claim process.
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