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Insurance Article

A brief guide to help you know more about property insurance

December 13 2012

So, it is important for you to know more about the policy you are likely to buy. This can prove to be of big help in understanding your need as well as getting a good insurance policy that does not drain your pocket.

You will find that home insurance in India, is largely divided into two main categories – the structure of the home and its contents. It is possible to tailor the policy coverage as per the requirements of the buyer. You can get a comprehensive coverage for home which not only covers the structure but also its contents so that you do not have to think too much when your purchase it. It is also possible to get an insurance policy for just the structure or only the contents as per the buyer’s wishes. For added flexibility, a buyer may choose a period or ten years or five years for which the insurance cover is valid.

Apart from the flexibility option it is also important to know what exactly your property insurance covers. A good home insurance policy protects your home against financial crisis that can arise due to both natural and man-made disasters. It takes into account the accidental damage caused by fire, lighting, storm, explosion, earthquake, malicious harm and more. A policy also covers the contents of your home against burglary along with jewelry, silver articles and other precious items up to the amount mentioned in the policy.

A policy provide option for addition covers such as terrorism cover which covers the damage caused to your home and its contents in an act of terrorism. Apart from this, you may get an optional cover which covers the extra expenses of rent incase you have to go for alternate accommodations as a result of the home being damaged or destroyed by insured perils. If you opt for this cover, then you do not have to spend for the unexpected expenses which can cause a big hole in your pocket

This information should help you get an idea of what to expect when looking for comprehensive home property insurance along with understanding exactly what you will need. This is crucial as only then will you get the maximum benefit of insuring your investment with a comprehensive home insurance policy.

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