HOME INSURANCEInsurance in general terms is an arrangement through which a company assures or guarantees to provide compensation for loss, damage, illness or death in return for payment of a regular amount of money or in more simple words it is a kind of protection against a possible event. Home insurance is one type of insurance that gives protection to your house.WHY WE NEED HOME INSURANCE?In today’s time nothing is certain and anything good or bad can happen anytime. So the need of the hour is to be prepared for any such situation whether it is a man made or natural calamity. In both the above cases we need to protect our property that is the fruit of our life long hard work and hard earned money. Man made disasters include burglaries, explosions or theft while natural calamities include flood damage, earthquakes or fire, etc. We never want to lose or damage our dream home. Home insurance is the perfect solution to be tension free and enjoy life in the dream home. There are various companies and financial institutions that offer different home insurance plans to protect your home. Home insurance helps to protect your interest as an individual and as a family. It also protects you if you have a housing loan or a third party liability.SITUATION IN INDIAIf we see from India’s point of view which has a population of 120 crores and approximately 240 million homes but out of them not even one percent homes are insured. It gives us an idea that Indian population is not as acceptable for insurance as western countries. As the information is spreading about the benefits of home insurance the picture is changing and more and more people are coming forward to opt for home insurance as per their requirements.COMPANIES OFFERING HOME INSURANCESome of the top insurance companies that offer home insurance plans are as under:
- Bajaj Allianz General Insurance Company Ltd
- Cholamandalam Ms General Insurance Company Ltd
- Future Generali India Insurance Company Ltd
- HDFC General Insurance Company Ltd
- ICICI Lombard General Insurance Company Ltd
- National Insurance Company Ltd
- Tata Aig General Insurance Company Ltd
- United India Insurance Company Ltd
- Cholamandalam Ms General Insurance Company Ltd
- Future Generali India Insurance Company Ltd
- HDFC General Insurance Company Ltd
- ICICI Lombard General Insurance Company Ltd
- National Insurance Company Ltd
- Tata Aig General Insurance Company Ltd
- United India Insurance Company Ltd
A GENERAL HOME INSURANCE POLICY COVERS
- Fire and allied perils
- Natural calamities like earthquake, cyclone, rock slides, storms, tornado, explosions and implosions, volcanic eruptions, lightening etc.
- Burglary/robbery
- Jewellery/precious stones
- Domestic appliance
- Electrical equipments
- Plate glass
- Peddle cycle
- Personal accident insurance
- BAQQAQE Insurance
- A) Public liability B) Workmen’s compensation
ITEMS NOT COVERES
- Cash
- Jewellery valuing more than Rs.15000/- and if it is not in the policy along with the valuation report of a government approved valuation jeweller.
FACTORS CONSIDERED WHILE CALCULATING HOME INSURANCE AMOUNT/PREMIUM1.location of the property2. Area of the house3. Rate of construction (approx.) (Rs./sq.ft.)4. Age of the house as more than 50 years old houses are not insured5. Only solid constructed house are considered for insuranceTYPES OF INSURANCE PLAN
- Standard or fixed cover
- Flexible cover(expensive )
INSURANCE CLAIMIn case of loss or any incident one can claim the insurance amount as per the policy taken by giving the details of the loss to the 24 hour call centre office of the particular insurance company. A surveyor appointed by the company inspects the site and report the loss to the company. The claim is processed within 7 to 15 days as per the report submitted by the inspector.Ruchi Mahajanзайм на карту без отказов круглосуточновзять кредит онлайн