Understand policy inclusions and exclusions to avoid surprises during claims.
A home insurance policy covers damage from earthquakes, fires, explosions, floods, landslides, cyclones, storms, aircraft damage, and acts of terrorism.
'Reviewing terms such as war, invasion, acts of foreign enemies or hostilities, which often appear in industry exclusion lists, can help avoid surprises at the time of claim.'
'It's better to be over-insured than underinsured.' 'Ensure your home insurance includes STFI (storm, tempest, flooding, and inundation) cover for protection against monsoon rains.'
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
Tenants should primarily buy contents insurance. 'This covers personal belongings like electronics, furniture, clothes, and appliances against risks such as fire, theft, floods, and other natural calamities.
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
Customers must sign the agreement promptly to avoid disruptions. They should read it thoroughly and understand their rights and obligations.
Some products offer terrorism cover as part of the base offering, while in others it is an optional cover.
While basic policies focus on structural damage, comprehensive ones extend to household contents like furniture, electronics, clothing, and other personal belongings.
With natural and man-made calamities posing a risk to your home, it makes sense to buy home insurance
Don't think twice to secure your most prized possession. It protects your precious home against unforeseen calamities
There are certain myths with regards to home insurance and through this article, we attempt to deconstruct them
Insurers cover the house on market value, and not on construction cost. They also don't insist on bills when giving the policy
It often takes a lifetime of effort to acquire a homeyour largest asset. So, once you have it, you need to protect it and its contents. Luckily, home covers are quite affordable.
Read the fine print carefully lest your claim gets rejected, advises Tarun Mathur.
Home insurance is not unlike life insurance. In a life insurance scheme, your nominees or dependents are offered an amount in case of your untimely death, due to natural causes or otherwise.
Home loan insurance covers the loan liability of the borrower.
Detariffing has made some insurance sectors cheaper. But, has hit some others
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Low-cost carrier SpiceJet on Friday said it has launched a 'Home Away Insurance' for all its customers in collaboration with insurance firm Tata AIG.
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
Flooding this monsoon underscores the need to buy home insurance, says Tarun Mathur.
Among those who lived on rent, 56 per cent believed natural calamities were the biggest threat to their homes.
Did you know that your home insurance covers valuables in bank locker?
in the longer run, there is no substitute for a standard term, accident, and a comprehensive health cover, with adequate sum insured that will give you round-the-clock and year-after-year coverage.
Anik Jain, founder and CEO at Symbo, will answer your questions on insurance -- life, health, motor, travel, etc -- on a weekly basis.
A home insurance covers losses arising out of such natural or man-made calamities, to the structure, or to the contents of your home. For a small amount of premium, it offers protection against the financial losses to your home or to your precious belongings.
Are you repenting not covering valuables you purchased using credit card? Fret not!
These policies can help you protect against the risk of financial loss.
The Nepal earthquake has driven home the importance of home insurance. What are the factors you need to keep in mind before insuring your property? Indrani Roy offers a checklist.
Without them your financial security is at a huge risk...
Tenants insurance offers a person living in a rented house cover against losses arising from theft, fire and natural calamities, among other things.
The sector has sought a mandatory natural catastrophe cover to cover perils in calamity-prone areas.
The devastation caused by the current deluge has damaged hundreds and thousands of homes and vehicles.
Making an informed choice will help you save money and some hassles too.
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