Importance of Buying Home Insurance Policy | AU Small Finance Bank
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Why Buying Home Insurance is Important

    Your home is one of your most valuable assets. Just locking it up doesn’t guarantee its safety. Any loss or damage to this will mean a big hole in your pocket. The best way to protect your home from any potential risks is to get it covered under a home insurance policy. Remember, it is a good idea to take up a little expense now, to avoid a huge financial setback in the future.

    Your house is undoubtedly the most treasured and costliest asset for you. Hence it’s important that you protect your home from various external perils.

    Taking up a home insurance policy is a crucial step towards securing your home. It is a savior meant to protect your house – your most valuable asset.

    If you are new to the concept of home insurance or if you are unsure whether you should go for this policy or not, read on to understand its importance.

     

    • Provides Coverage Against Natural/Man-Made Disasters

    A comprehensive home insurance policy covers your house against losses and damages caused due to natural calamities, such as earthquakes, floods, lightning, storms, typhoons, etc. These policies also cover you against any loss or damage which may be caused due to robbery or theft.

     

    • Provides Compensation for Temporary Living Expenses

    If your insured house has undergone some damage and is deemed inhabitable due to severe harm/destruction - a home insurance policy will come handy! This policy will provide compensation for your temporary living expenses until you rebuild/renovate it. The upper cap for this amount is set according to the terms and conditions provided by the insurer.

     

    • Provides Coverage for the Loss/Damage to Your Valuable Assets and Precious Personal Belongings

    A home insurance policy will also provide coverage against loss/damage of contents kept inside your house. Appliances (refrigerators, television sets, computers, air conditioners, microwaves, etc.), furniture, furnishings, jewelry etc-everything falls into this category. It also includes various valuable, expensive, and important personal documents.

     

    • Protection Against Liabilities

    A home insurance policy protects you against any liability arising out of accidental damage caused by you to a third-party member within the confines of your property.

    This clause even includes your pets! So, if your dog breaks your neighbor’s expensive vase, you can file a claim to reimburse it. Moreover, if the neighbor slips on the broken vase pieces and successfully sues for pain and suffering or lost money, you'll still be covered for that, too.

     

    • It's Affordable

    Home insurance policies are affordable. Like any insurance policy, a premium will have to be paid on the insurance, too. The insurance premium broadly depends on four conditions: age, amount, tenure, and medical record. Economical and protective - this investment will help you stay afloat in tough times.

     

    • Provides Peace of mind

    Home insurance provides you the ultimate peace of mind. Whether you own an apartment or a villa, once you have selected your policy and paid your premium, protecting your property is no longer your responsibility.

     

    Get your Home Insured Now