What does not cover in home insurance - Insurance-Alerts.com
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What does not cover in home insurance

Everyone does insurance of cars and bikes, but when it comes to home insurance, most people do not consider it necessary.  While home is our biggest economic investment.  By ensuring home insurance, we ensure the safety of our home and belongings.  You get protection from financial loss in case of natural disaster or theft.  Learn what are the benefits of home insurance…
What does not cover in home insurance
What does not cover in home insurance

What is covered in home insurance

 Insurance companies offer home insurance policies for the home and interiors.  The policy covers building structures and home furnishings.  The insurance company bears the repair costs if the building structure is damaged.  Similarly, the policy also covers compensation for fire, explosion, lightning, theft, flood, storm, cyclone, terrorism, riots, strike, landslide, leakage, earthquake and other natural calamities.  However, many things depend on the policy taker what he wants to cover in insurance.  Insurance companies do not insure property for more than 50 years.  If you are living in a rented house, then you must get the goods insured.

 This is how premium is fixed

The insurance company decides the amount of insurance cover and premium based on the property's construction quality and built-up area (per square foot).  Property size, type of construction, geographical location, goods inside the property, etc. are also important in deciding the premium of home insurance.  The insurance company charges higher premiums from policy holders in areas affected by floods or earthquakes.

 Home insurance companies

Companies like ICICI-Lombard, Bajaj Allianz, General Insurance Company, IFFCO-Tokyo, National Insurance Company, New India Insurance, Oriental Insurance offer home insurance policies.

 Follow these methods for a low premium

A policy should always be taken for a long time to pay a lower premium.  This gives a discount in premium and there is no problem of renewing it.  There is a discount of up to 50% in premium for taking insurance for several years.  For low premium payment, you can get information about the policy online.

 What does not cover in home insurance

Home insurance is not covered under war insurance, intentional sabotage, land shifting around property, loss of property document, loss of antiquities, etc.  Even in cases like civil war, nuclear weapons, loss of domestic help, the insurance company does not compensate.

 Take care of them in the choice of the company

Before taking home insurance from the insurance company, be sure to check the status of the claim settlement.  This will give you information about the company's policy and will not face any problem in taking the claim.  Never decide to take a policy based on low premium.  This will deprive you of many benefits.
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