What is Home Insurance – Cost, Companies, Coverage Details in India

Also commonly known as homeowner’s insurance or hazard insurance; home insurance is a comprehensive plan of security for the household belongings, possessions and other articles which may get damaged or become victim of natural or man-made disasters.Home Insurance

Home Insurance

Loss of possessions, damages, theft and burglary in homes have gone quite rampant in the recent past few years that must be protected with a specific and comprehensive insurance policy so that you life tension free. Of course, home is the most precious and spacious place for you to live, relax and enjoy with your family members but it will become more valued if you have given due financial security and stability to your personal living place.

Top Companies offering Home Insurance Policies

  1. Bajaj Allianz Home Policy – Home being the most valuable and expensive possessions of a person, offers a comfortable place to enjoy and relax. Bajaj completely understands your love and affection towards the home or property for which it offers ultimate insurance plan. No doubt, the market value of the home is on the rise due to which you are always afraid of unwanted risks such as theft, fire and accidental damages to other possessions inside your home. You can customize your home insurance plans with best priorities, budget and value of the possessions so that your home is always insured.
  2. National Insurance Company Limited – Every householder needs some sort of financial cover for home or property which includes all types of belongings, possessions and expensive jewelry items. Such a policy will also cover mechanical or electrical failure of costly appliances! Of course, your property will be financially protected against housebreaking, structural damages, fire, flood and theft. You can buy most convenient and appropriate home insurance policy depending on the market value of your home and budget.
  3. ICICI Home Insurance – Man-made and natural disasters often play havoc with the structure of your home which will be protected if you have purchased the best home insurance policy. ICICI Lombard offers a great range of customized home insurance coverage plans which will give you a tension free life even in the case, fire and earthquake. You will be capable of keeping all types of household accessories, jewelry items, possessions and valuable things safe with such insurance policies.
  4. HDFC Home Insurance – HDFC also provides home insurance too. You can approach your nearest HDFC bank for details.
  5. Bharti Axa Home Insurance Policy – Bharti Axa provides home insurance for about lowest $5 premium per year.

Home Insurance Cost

See, the costs of your home insurance will depend on a number of factors and various considerations such as the market value of location, city, and geography, types of home or property and of course; what you really want from insurance cover! Taking these things into account, an average cost of home insurance policy may need you to go through annual installments of about $300 on annual basis.Large Home

Benefits of Home Insurance

  1. Guaranteed affordability in premiums – It should be noted here that no one can pay the home insurance coverage amount at once so; financial organizations often come with lucrative and flexible premium plans. Every company will offer you with affordable and manageable premiums that will fit your bank balance and overall budget.
  2. Complete protection – You may consider the concept of taking home insurance policy as the single investment which does not protect your living space against theft, fire or earthquake but also; gives solid safety to your family members. All the family possessions and valuables will be safe through such insurance policies.
  3. Rebates – You should feel free to maximize on add-ons and rebates that are often offered by these insurance companies to attract more and more consumers. Hence, you will find this insurance coverage more customized and flexible in context of your financial ability.
  4. Time duration of home insurance – See, some of the companies offer 5 years coverage for the household possessions and contents while a few companies may offer up to 7 years of coverage. As far as the matter of home structure is concerned, you may get insurance coverage up to 10-12 years.

So that was all about Home insurance policies, their cost, benefits and you can get quote of home insurance by visiting those nearest branch office.