Why Home Insurance against Natural Calamities is Essential

Why Home Insurance against Natural Calamities is Essential 16^th Sep 2020

One of the most expensive assets that an average earning Indian buys in his/her life is a house. A good part of our earnings is spent on buying and furnishing our dream home. Though we pay a lot of attention when purchasing and setting up our house, we often neglect to get it insured from the

best home insurance company in India.

Due to a lack of awareness among buyers, many people don’t consider buying a home insurance policy to protect their homes against natural calamities. There is a misconception among insurance buyers that home insurance is costly. However, the fact is that home insurance against natural disasters in India is inexpensive. It is being offered by the best home insurance company in India at a price that doesn’t burn a hole in your pocket.

Why buy Home Insurance against natural calamities?

Despite knowing that home insurance against natural calamities is not as expensive as it is perceived, only 1% of people buy the insurance cover.

It is essential to buy home insurance against natural calamity because India is a disaster-prone country. Many regions are prone to experience earthquakes with severe intensity. Also, there are many areas, approximately 12% of India, which is likely to floods. The areas on the Indian coastline are prone to experiencing tsunamis.

The frequency of natural disasters in India has increased in the past few years. According to the World Bank’s estimate, approximately 600 districts in India are calamity-prone. This places a large number of people and their property at a higher risk.

It is thus essential for Indians to buy a home insurance policy against natural calamities from one of the best home insurance companies in India. Moreover, a home insurance policy covers not only the building of your home but also the components in it from damages.

Here is a detailed analysis of why you need to buy a home insurance policy.

It not only protects your home:

A home insurance policy provides protection not only by covering your home but also the components within.
You can easily opt for add-ons to protect various components of your house like furniture, valuables, electronics, etc.

Replacement of loss

A home insurance plan not only provides financial safety but also provides for the replacement of the insured subjects.
You can opt for replacement cost instead of depreciation value when buying a home insurance plan.
The structure of the building and the various components are insured for their replacement cost.

Home Insurance is inexpensive

Home insurance plans to protect your home against natural calamities are available at affordable premium costs.
You can easily buy home insurance from the best home insurance company in India without pinching your pocket.

Protect yourself from lawsuits

A comprehensive home insurance policy offers you the required peace of mind by protecting you from property-related lawsuits.
Some insurance plans also cover the medical expenses of a guest who is injured on the premises of your residence.

It offers flexibility

If you are willing to buy a home insurance plan to protect your property from natural calamities, you can choose between insuring the structure of your home or only it’s content. This offers flexibility in buying a home insurance plan.

Natural calamities cannot be controlled, but you can protect your home. If you still don’t have home insurance, buy one soon from the best home insurance company in India to protect your dream home.