To a person, his home is more than just some bricks and walls. To him, his house is his life’s story that he has been making since the beginning. In India, where the economy is constantly fluctuating, buying a home is a strain on one’s pocket. Even after spending his or her life’s saving’s, one is still seen short of money. However, unlike the earlier days when the only option that the people had were traditional financiers, in the recent times there are a number of banks, and NBFCs (non-banking financial companies) offering home loans to people. Thus, people are now able to buy properties for themselves. However, even after purchasing a property, one must ensure its safety by opting for home insurance policy. What is the use of home insurance India? Home insurance is a form of property insurance which protects an individual’s and its assets from both natural and man-made phenomenon. Accidents inside one’s home or property are also covered in the home insurance policy. The different types of dangers from which home insurance protects us are:
All the people who are residents of India and own or occupy a property can apply for home insurance. The different types of properties which are covered under home insurance India is?
Most of the risks that might arise are taken care of by one’s home insurance policy. However, there are certain exceptions to the case. These exceptions are:
How to reduce home insurance premium? There are a number of ways by which one can reduce his or her home insurance premiums and they are:
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