The prevailing consensus regarding house insurance is that it is optional and not absolutely necessary. The fact that this is incorrect hardly needs to be said. You invest so much time, energy, and money into developing it. Then why should you not secure your ideal home from threats, both natural and man-made?
The justifications people offer for not purchasing home insurance range from ridiculous to uninformed. Let us walk you through a couple of common questions so that we can resolve the doubt about getting home insurance.
Natural catastrophes are extremely uncommon. Why should I buy home insurance?
Over the past few years, flood incidents have been happening more frequently. Despite the rarity of earthquakes, storms, and other natural catastrophes, you should be aware that home insurance covers losses caused by a wide range of events, including fires, riots, theft, and electrical problems. Your home is protected from all of these threats thanks to home insurance.
The cost of a home insurance policy is too high.
It is not too absurd to buy home insurance for a few thousand rupees when you spend lakhs collectively (and occasionally billions) on building your dream home. You must adopt a new perspective and consider this an investment that would eventually pay off. Significant financial setbacks will result from damage caused by fires, floods, and other calamities.
Due to the enormous range and variety of policies available, home insurance rates are also relatively affordable.
You can use a home insurance cost calculator to figure out how much premium you would have to pay for a chosen coverage when you want to insure your house. This will assist you in determining the appropriate level of coverage to safeguard the structure and contents of your house against calamities like fire, hail, and impact damage that are caused by human error. This sum is determined by taking into account the acreage, the cost of the goods, the building’s value, and other similar considerations.
The claim settlement process is a hassle even if I get home insurance!
Simply said, this is not true at all. House insurance claim settlement is made simple and logical by insurance companies. The majority of this process can also be completed online. On the insurance provider’s website, claim settlement forms can be obtained, filled out, and then posted. *
I am a very wealthy landowner. Simply put, home insurance policies don’t offer enough coverage and sum-insured amounts.
It is again not true. A number of organisations currently supply high-quality home insurance policies that give comprehensive coverage and big sum insured amounts for your opulent resorts and luxury condos. *
I don’t own this property; I’m only the current tenant. Why should I purchase home insurance?
Even though you are a tenant, you are still responsible for paying for damages to your house if the landowner does not have insurance. Companies are aware of this and offer tenants affordable, custom-made home insurance policy. *
Conclusion
Don’t delay in getting home insurance now that the common justifications for not doing so have been exposed! Please visit the website of the insurance company to select the best insurance from a variety of options for your dream property. As the expression goes, it’s better to have something than to not have it at the time of need.
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
