Previously buying a property was considered a higher class thing but today the Indian middle class is widely open to the real estate sector and that too at a very young age. Sometimes a second home is also considered a valid option to park the savings. We do see examples among ourselves who are buying their second home for rental incomes and investment purpose. This change in scenario has come due to the upward trend that has completely changed the thinking of people. Now properties have become the most important investment option for everyone. The standard of living has gone up drastically. People now spend on luxuries unlike old times when savings were more important than spending on luxuries. Though it is good to spend but it is also important to safeguard your belongings. Now most the people own the property but how many of them actually think about the protection plan of these most valuable and most expensive asset of ours? Recently I have learnt about a gang robbery in neighborhood area of Pimple Soudagar where a gang of five people broke into almost 12 apartments in just one night. Isn’t it very sad? We all buy life insurance, health insurance, car insurance, two wheeler insurance but how many among us actually go for a home insurance which we think is not necessary. But we are wrong here as our home is the most precious asset we own and it is recommended to safeguard our precious asset from anti social elements as well as from natural calamities.Home insurance promises you to minimise the losses in case of any sad happenings as no one can predict what will happen in coming time so it is always better to be prepared for any unforeseen situation that may occur. Home insurance is a kind of general insurance which covers your home from earthquake, flood, fire, tsunami, cyclone, any other natural calamity, theft or robbery, dacoit, etc. It seems some rare incidence if we live in a place that has never faced any natural calamity in decades but you never know what will happen and where will it happen. It will be really unfortunate if our dream home which was made by our hard efforts has to face anything like that and we can’t do anything to protect it. The man made problems like theft are very common today even in a well guarded society. That is why it is necessary to have a home insurance to live tension free.We can generally divide the home insurance in two broad categories: one is building insurance and the other is content insurance. In building insurance the insurance company insures the property against the reconstruction values. This cover includes both, the natural calamities as well as theft or human intervention. The second type of insurance that is content insurance insures the expensive articles inside a home for example TV, refrigerator, computer, laptop, ornaments, furniture, etc. the insurance company pays back to the insurer the current value of the products stolen or lost at the time of claim if mishap is happened.The first type of insurance is useful for the owner of the property and can be taken by the owner only but the later one can be taken by both, the owner and the tenant as well. This insurance in non-transferable and if you are selling a property you need to cancel the insurance and the buyer should get it insured separately. The home insurance should not be considered as an extra cost to be paid but should be taken as a necessary protection cover against all possible odds. This insurance is not very expensive that the affordability will be a question.Ruchi Mahajan