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Why home insurance is very important in India
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Author: harman verma: India has population of nearly 115 croresamounting to nearly 1150 millions. This indicates that you have a family size of about five and around 230 million homes.As per the calculation, it has been proved that about 2 per cent of the homes are insured around the nation in India. This indicates that only around 46 million homes are insured.In case, we take average premium charged by companies as 2000 INR for each home the overall figure should be 920 crores INR. Now you must be thinking of why home insurance is necessary. Here is your answer:
Top Reasons to get property home insurance:
• To defend your interest as an individual/family
• To guard yourself/in case you have taken housing loan
• To safeguard yourself from any kind of third party liability
Top companies in India offering property home insurance:
• ICICI Lombard
• Bajaj Allianz
• TATA AIG
Most people, about 95 per cent of consumers buying homes are completely unaware that impressive packages such as comprehensive household insurance plans. This usually costs really low. It will also cover your entire new home against all kinds of dangers and even includes furniture and fixtures inside.
It is quite interesting that many private and government housing finance companies have made it compulsory for home shoppers to have property home insurance. This way, they are protecting their interests and developing a higher level of awareness among many of the home buyers for these policies.
The property home insurance in India covers you for the following sections:
• Fire and related dangers
• Burglary and robbery
• Jewellery
• Precious stones
• Glass plates
• Household appliances
• Electronic equipment
• Pedal cycles
• Baggage insurance
• Personal accident insurance
• Public liability
• Workmen's compensation
What property home insuranceplan in India does not cover?
• Cash
• Jewellery with value more than 15000 INR. In case, the similar was not included in the proposal form in conjunction with along with valuation report of a government sanctioned valuation jeweller.
In order to get a plan that is best suited for you and your requirements, it is imperative to get home insurance quoteonline. This is the best way to get a plan that is ideally suited for you and fits into your budget.
Article Source: http://www.articlesbase.com/insurance-articles/why-home-insurance-is-very-important-in-india-5378859.html
About the Author" In case, you are not sure about why home insurance is necessary, you must ask yourself about how you would be handling an emergency. The property home insurancewill help you do just that. Getting home insurance quote over the internet will also help you a great deal.
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