Owning a home in India involves considerable monetary and emotional investment. Yet, many of us
often overlook the perils it might be faced with and the financial repercussions that results from such
damages. Instances such as burglaries, floods, fire, and other natural and man-made disasters that can
both cause extensive property damage and financial preparedness for it must be a priority.
During such unforeseen events, having a comprehensive home insurance policy can help avoid
significant financial losses that arise from risks to one of your biggest assets. A comprehensive home
insurance plan offers protection not only your house but also its contents. An important point to
remember is to ensure that you opt for adequate coverage while purchasing a home insurance policy.
Speaking on the significance of home insurance, Pankaj Verma, Head – Underwriting, SBI General
Insurance said, “Your house is undoubtedly amongst your most valued asset. A home insurance policy is
essential for both homeowners and tenants to safeguard you and your home and its contents from
unanticipated events. The emotional and financial impact of reconstructing a house or reinstalling
appliances can be cumbersome and expensive. Leading insurance companies provide home insurance
plans with a variety of features and benefits. While purchasing home insurance, customers should opt
for a policy that offers all-round coverage, covers the costs associated with structural damages, assets
replacement, and temporary accommodation, etc. and an insurer with a good claim settlement ratio."
A home insurance policy gives you something invaluable: security and peace of mind. You can be
confident that you will have a financial safety net in case something unexpected happens to your house.
