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Insurance Article

Most Common Home Insurance Claims

November 09 2015
damaging -situations

Damaging situations causing home insurance claims

Read ahead, to go through some home insurance claims that are commonly encountered by insurers.

1. Fire to content

A fire can take place anytime without any prior notification. It can severely destroy your home's interiors comprising of curtains, furniture, clothes, etc.

Damaging situation: Power goes off at 7 pm and you light candles in all the rooms. However, you forget to blow out a single candle from a random room, which falls and ignites a fire, damaging your furniture and curtains.

2. Fire to structure

Short-circuits and other electricity-based problems are the main causes of fire that lead to severe destruction of a home's structure. Gas leakages also have a catastrophic effect.

Damaging situation: Short-circuit is often reported to be caused by loose wiring. Fire may also take place due to fluctuations in electricity supply and usage of sub-standard cables. These fire accidents result into structural damage of home that destroy utilities and fittings such as walls, roofs, foundations, windows, fitted kitchens, etc.

3. Property damage due to manmade disaster

Structure can be damaged severely due to manmade calamities also. Your property may be damaged because of someone else's negligence or irresponsibility.

Damaging situation: The top floor resident renovates his house's washroom causing severe water leakage in your apartment. Your ceiling and the wall gets damaged and causes a threat to the electric circuits.

4. Damage due to flooding

India, being a peninsular country and surrounded by Arabian Sea, Indian Ocean and the Bay of Bengal, is prone to flood. Every year flooding causes immense loss to country's property and lives in the coastal areas.

Damaging situation: Heavy rainfall and strong winds in coastal areas lead to destruction. Both the structure and content of the house get damaged due to natural calamities.

5. Burglary

Burglary has become a part of the urban lifestyle. It takes place so frequently that people are no longer shocked by its occurrence. At times, even advanced security systems do not work in our favor and we are left in crisis.

Damaging situation: Burglars strike mostly when families are out on vacation. They not only steal the contents but also can cause severe damage to the structure.

Home is one of the most valuable assets one can own, and hence must be protected against financial losses with a comprehensive home insurance policy.

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