5 Reasons Why Home Insurance is the Best Investment
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March 2016Have you invested to protect your biggest asset?
Your home is an integral asset. Are you doing enough to protect it? An accidental fire, an unforeseen natural disaster or a burglary can severely affect this valuable asset. Here are 5 things that your home insurance will do to put your mind at ease.
Assistance in Re-Building
In case of damages to your house due to accidental fire, tornado or hurricane, home insurance will pay, in part or full, for the repairs or re-building. Damages to structure due to bursting water pipes, electrical short circuits, tree(s) falling on the house and other miscellaneous damages due to natural causes are covered by home insurance plans.
Replacement of Home Contents
A home is decorated with love and care, to reflect the personalities of the homeowners. These decorations have monetary as well as sentimental value. Apart from these, there are expensive appliances, furniture, and other valuables also.
If your home and content are insured, home insurance can provide you the value (after depreciation) or the replacement cost (actual price) of such valuables.
Burglary Insurance
With vandalism and theft of personal property on the rise, home insurance is your best bet to safeguard against a financial loss. In case of damage and destruction of home and its contents, the homeowner can claim the amount required for repairs and replace valuables up to a certain limit.
Region-Based Cover
If your home is located in a region which is prone to certain phenomenon, some insurance companies may customize your home insurance accordingly.
You can opt for specific add-ons as well. This can include insurance against landslides, earthquakes and other natural calamities or man-made dangers like terrorism, missile testing and war.
Financial Gains
An insured home retains its equity. Equity is the value of your home in the current market, apart from the loan or other liabilities against it. When you make renovations to your home structure or improve it in some way, it increases the equity. Home insurance protects that equity and you do not have to build it from scratch.
In today's digital world it is extremely easy to avail a home insurance quote online. Not just that, you can compare policies, research about various features and benefits and choose a cover that suits you. You can strengthen your policy by opting for a comprehensive cover, making an online payment and availing insurance in an instant. Periodic renewal is also possible via the online channel. Make an informed choice and avail right home insurance.
Source: icicilombard.com
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