We feel safe at home as we’re surrounded by our loved ones there. The environment itself offers a kind of affection and security. To make sure you’re completely secured and protected against the accidental damages, the householder policy covers the building as well as its contents.
The procedure of buying as well as renewing the policy can easily be done online. You can purchase a new policy, renew your existing one on your preferred general insurance company’s website. Once you’ve filled in the necessary details, make the payment using your debit/ credit card or via net-banking. If you want to check the different policies online, you can do that too sitting in the comfort of your home. You can check what’s new in the home insurance market and make alterations or enhance your existing plan.
If you opt for the house holder policy, you will receive comprehensive protection for your home i.e. residential building, as well as its contents, against various risks.
About householder insurance policy
These policies basically offer protection to the home-owners against the damages as well as losses that affect their property or belongings. However, the terms of such coverage are different for different policies. Many insurance companies, however, cover perils such as thunderstorms, theft, hail, fire, etc. Certain policies also offer financial assistance in case a homeowner is displaced temporarily due to their home being damaged.
Selecting the sum insured
- For building
The sum insured for the building must provide coverage for the entire cost of rebuilding the property along with the architect fee, etc. as well as the cost of clearing the debris and price to obtain sanctions for new building regulations if any, or by-laws.
- For contents
The sum insured for contents must be the replacement value except contents under the all risks section, wherein it must be the market value. For jewelry, it would be the market value of less than 10% making charges or the purchase cost. For the rest of the sections, the sum insured is as selected by the proposer.
Let’s look into 5 reasons why you should buy a householder insurance policy:
- A lot of damage is caused due to man-made risks such as burglary, terrorism, etc. You can get protection against these situations under a house insurance
- If you face a total loss of the property, you may be relocated to an alternate house. By the time your home is under construction, your insurer may cover the additional rent.
- Natural disasters are something that isn’t under your control. However, if you have an insurance plan, your home could be under protection.
- Along with the structure, contents of the house are also covered under this policy like furniture, domestic appliances, etc.
- It can become tedious to renew your home insurance policy every year with the busy schedules people have these days. Most of the insurance providers offer policies for a longer period like 5 to 10 years. Purchasing such plans would prove to be more cost-effective as well as hassle-free.
House insurance policies must be preferred especially by people residing in the areas of threat, i.e. if they do not stay in secured societies. However, when you buy a home insurance policy, don’t settle for the very first plan that you come across, go through various policies and compare considering the features as well as the premium amount to be paid. While you’re comparing, make use of the home insurance premium calculator, and get the estimate instantly, this will make the comparison easier.