Over optimisticA staggering 20,377 cases of fire accidents were reported in India during 2014, which left 1,889 persons injured and 19,513 dead. Accidents are accidents, they cannot be controlled. However, what we can control is the amount of precaution we can take against it.
Go through the following points that highlight the importance of home insurance.
Home Safety
Two stones was all it took for mankind to discover fire. Think your house is safe? Think again. If just stones can cause sparks, imagine what our modern day household item can do. Your kitchen is most susceptible to fire. We live in a world with sophisticated gadgets that, if unattended, can prove dangerous. A minor lapse can lead to a major hazard.
Bedroom fires are often attributed to smoking, faulty electrical appliance and candles. They can be more lethal than kitchen fires as they can strike when the inhabitants are asleep. We live in an age where fire alarms are fairly advanced but the time gap between the occurrence of fire and it being extinguished can cause considerable damage to your property.
Real Estate Reality
Lack of space in urban areas has prompted real estate developers to build skyscrapers. These high-end residences are equipped to handle accidental fires however; they can also be instrumental in causing it due to the presence of several electronic gadgets. After all, one spark is all it takes.
Vertical real estate has another side effect. Fire caused in one apartment can spread rapidly throughout the building. This means that you might end up facing financial losses due to someone else's mistake!
Structure and Content
One can choose insure the structure of your house and/ or its content. A comprehensive home insurance policy can be chosen that includes structure as well as content insurance. Specific add-ons can also be availed to strengthen your home insurance policy.
Those who stay in rented premises can opt for content insurance as the structure belongs to the landlord but the home's contents belong to the inhabitants. Similarly landlords can opt for structure insurance as it covers damage to the structural aspect of the home.
Package Deal
Protection against fire is one aspect that is covered by the home insurance policy. Generally, home insurance policies cover financial losses arising due to earthquakes, floods, lightening, burglary, vandalism, etc. One needs to analyze ones immediate environment and avail a suitable home insurance package to lead a risk-free life.
Smart Buyer
Digitization has revolutionized the way insurance industry functions. Now you can purchase fire insurance online as well. Insurance companies help you make an informed choice by providing policy-related information on their website. You can go through their website to understand the nature of your policy, payment details, claims procedure, etc. Their dedicated helpline can also be leveraged to resolve your queries. Be smart, buy online, stay insured!