The Importance of Home Insurance

You have just bought your dream apartment in Kerala with your life savings or by taking a home loan. Now’s the time to protect it! We take measures to protect our loved ones by installing security doors, cameras or essential locking systems. But we leave out protection of the home against unknown calamities that can ruin the home and bring on substantial financial losses. We realize the importance of home insurance only after we have suffered uncertain losses. 

Home insurance offers coverage against fire and associated perils, burglary, theft, terrorism etc. The contents, jewellery and valuables, curios and works of art are also covered under this policy.

A home insurance policy can be availed by anyone who is the owner or occupant of a property. Even organizations or firms who are owners of a property that is being used for residential purposes by employees, partners or other invitees can buy a policy.

Apart from that, tenants on rent can buy insurance for contents they own, as assets are also valuable and any damage to them can lead to financial loss. Owners can also choose for loss of rent insurance cover in case of natural calamities.

Why is home insurance important?

Security against natural calamities: 

Loss of one’s home is one of the biggest losses in any natural calamity! During such calamities, substantially large damages occur to homes, properties & assets be it insured or not. There is a radical difference in the actual economic loss and insured losses and hence opting for home insurance can shield not just the structure of your house but the contents as well.

Content, valuables and portable equipment protection:

You can give insurance cover for the contents at your flat like appliances, furniture, clothes, portable equipment including cell phones or laptops. Valuables like your jewellery can be separately insured under home insurance as well. You can also insure the jewellery you are wearing not just at home, but also while travelling anywhere in the world.

Risk due to fire and theft covered: 

A home insurance policy helps you with the construction costs and also resettlement cover for situations when you need to relocate due to severe damages at your home in a fire. If a theft occurs in an insured’s home, stolen or damaged contents can be covered as well.

Protection against liabilities: 

Physical or property loss of a third person can happen by some accident at your flat like a cylinder blast or perhaps a repair activity. All such emergencies can be effectively covered under home insurance by opting for public liability coverage.

Add-on covers: 

Home insurance also has add-on covers like loss of rent, temporary resettlement cover, public liability, pet dog insurance cover, ATM withdrawal cover, lost wallet cover, key and lock replacement cover which provides extensive protection for your home.

Protect your apartment and contents with a good insurance cover and stay safe. To buy flats in Kerala check out luxurykeralaflats.com.