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Property Insurance 101: Why it’s a Homeowner’s Friend

By Roshani Ballal - Jan 13,2022
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Property Insurance

Suze Orman, an American financial advisor, podcast host and author once said,  “Owning a home is a keystone of wealth – both financial affluence and emotional security.” 

Her words reflect pretty much what each of us thinks about our home. A home is a place that gives us emotional comfort and helps us feel safe. You turn a house into your abode by adding your touch to it and by collecting your favourite things. Now the question is, what are the chances of these things and your home being safe at all times? Accidents can never be predicted. Risks like theft, burglary, earthquakes, and floods can damage your belongings and your preciously built home too. This holds true irrespective of you being the homeowner or a tenant shifted just with the articles and belongings inside the home. Here’s when home insurance comes into the picture! 

What is home insurance? 

Home insurance is a financial cover designed to help you take care of the financial implications of damage caused to your home due to risks like fire, earthquakes, burglary, and more.  

Types of home insurance plans 

Speaking of home insurance plans, it becomes vital to understand the types of the plan. Insurance companies have designed unique plans to ensure that your unique needs are taken care of. Here, we list down some types of home insurance plans available in the market: 

Fire & Other Perils – This plan ensures that you are covered for risks like a sudden fire outbreak or other special perils including natural and man-made calamities.  

Theft & Burglary – In case the valuable contents in your house are stolen or there is an incident of burglary, you are covered with home insurance. 

Home Structure – From kitchen fittings to ceilings, anything and everything is at risk when the home gets damaged due to unfortunate events. With home structure cover, you can rest assured.  

Homeowner’s Friend 

With home insurance, it becomes easy to the recover the losses incurred due to these damages, so you can bring your home back to life just how it was! After all, your home protects you from the harsh climate, external risks and keeps you safe, making it your responsibility to ensure it always remains in good shape.  

Tips for Buying the Policy 

Now that you know what home insurance is, let’s understand how you can go about buying the policy. Decision-making plays a key role when you are buying a house. But home insurance is not less. It is important to ensure that you have taken into consideration various factors that help you choose the right policy and protect your home better. Whether you are a homeowner or someone staying on rent, see what you need to protect and secure, understand the plan coverage and proceed.  

This task becomes far easier with online platforms providing you easy and seamless tools for buying your policy online, as per your needs. Just head on to the website and enter the necessary details to get the best-fit plan as per your requirements.  

So, now that you are well-aware of how you can take care of your home, don’t think any further. After all, home is where the heart is! 

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Bajaj Finserv Direct Limited ("BFDL") is primarily engaged in distribution of financial products and services through its digital platform (“Bajaj Finserv MARKETS”) and inter alia renders services of customer acquisition, providing preliminary credit support activities, fulfilment services and post-acquisition customer services to Banks, NBFCs, HFCs. BFDL is also a registered Corporate Agent (Composite) under valid IRDAI registration number: CA0551 valid till 10-Apr-2024 for solicitation and servicing of Insurance Products. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522