Home Insurance Niche

House insurance in India is regarded as largely a safeguard of low significance.

Most of us do not go for House insurance. Why insure home, we ask. Only an insurance agent would tell you why you should go for insurance for your house. It may catch fire. We live in an earthquake prone zone and it is highest on the Richter scale. Your house may be exposed to burglary and there could be several reasons for you to go for insurance.

But then you give it a thought for a moment. You realize you have not heard even remotest of your family or friends having ever been affected by such accidents.

If Gujarat quake had happened close by you would have immediately gone for House insurance without the agent doing much selling. The region recorded one of the highest number of insurance policies sold in the history of insurance business after the quake.

But quake in Gujarat is a history now. Unless it repeats the spurt in the business is unlikely. Home insurance in India is regarded as largely a safeguard of low significance. Often such are policies are institutional in nature or are ones availed by large business houses or top executives. Then there are big housing societies which would opt for home insurance. House insurance companies in India too give home sector a small consideration. The major chunk of the insurance business is taken by vehicle, life followed by insurance-cum-investment instruments.

Article Source: http://EzineArticles.com/438464

Read to Know How Home Insurance Policy Protects Your Home

It takes a lot to build a home. It is both time and energy consuming process. It takes extreme labor, efforts and pain from you. Every single brick used for the construction of home is a priced-possession bound in emotional ties. It is for the fact that buying insurance is the perfect decision. There are several companies in India that provide every possible attempt to protect your home from various hazards and risks such as burglary, damages caused by natural and man-made disasters etc.

Features of best Home Insurance Policy

In fact, purchasing the best home insurance plan is a seamless option that strengthens you with risk coverage to the structure and/or its contents of your home against unforeseen misfortunes. In regards to a comprehensive home insurance policy, it should include loss that happens to one's, its contents, loss of use (extra living costs), or loss of other personal possessions of the homeowner. The plan also features liability insurance for accidents that may happen at the hands of the homeowner within the policy territory.

Coverage area of Best Home Insurance Plan

There are many reputed companies in India that offer across-the-board home insurance plan. The plans are designed in a way to guard customers and family against a wide range of perils and risks. When you are going to buy home insurance policy online, ensure the coverage areas. Mainly, the best policy provides protection for the policy holder's entire assets, interests, liability and those of their family.

Indeed, a good insurance plan is drafted to provide comprehensive protection to the policy holder, ranging from Burglary and other Perils (dacoity impact damage by falling trees/electric poles/lampposts, breakage or collapse of television or radio aerials /satellite dishes), all valuables ( watches, jewellery items, gold, silver, clocks, video cameras, musical instruments, guns, etc), and many more things such as Electronic Equipment, Home Enterainment Equipment, Portable Computer/Mobile Phones and Pedal Cycle, Loan Payment Protection, Increased Living Expenses and so on.

Advantages of Home Insurance Policy

No doubt, your family and home mean everything to you. You show not only care and love to them, but also you have given most part of your time and money to them. However, it is fact that you cannot safeguard them all the time from all possible risks, but you can take certain steps to guard them. Yes, you can ahead for some steps in order to save them from any unanticipated event that can completely break your life and your dreams. You should opt for Home and Family Protector Insurance, which is just the right kind of Policy to provide protection for your family and against these uncertainties.

To add more, Home and Family Protector Policy is designed with the aim to offer one single Policy to various householders. It is because of that fact that under one cover they can have a total insurance protection. Apart from the protection for your household interests, assets, liability and for your personal self, etc., your family members and domestic employees will also be covered. Thus, it leaves no insurance gaps. You can find a trusted insurance company online and buy home insurance policies online through hassle free way.

http://www.sooperarticles.com/finance-articles/insurance-articles/read-know-how-home-insurance-policy-protects-your-home-1303037.html

The Standard Things to Know When Looking For Home Insurance

Decrease your homeowner's insurance premium by purchasing a light up and fire security alarm method in your residence. Not merely performs this protect you fire, numerous insurance firms provide policy savings on homes safeguarded from a smoking or flame security alarm system. In a more aged household without having typical mounted alarms, putting in alarms could help you save on your superior and safeguard your family.

If you can, pay back your house loan to save cash on your own Home insurance policy. When a person owns their property outright, instead of paying a house loan each month, insurance providers look at them as customers who are more likely to take care of their house. Due to this, many organisations will offer you them reduced yearly rates. The moment your house loan is paid out away, make a contact to your insurance coverage representative hence the cost savings can start.

When confronted with the roof above your head, you should obtain the property owners insurance plan that most closely fits your look of residing and needs. Many people may possibly consult nicely round residence owner's insurance as abnormal, nevertheless, people have heard the existing saying "better secure than sorry!." It is essential to take time to know every one of the nooks and crannies in your plan, don't hurry into an inferior policy.

The types of content your home or outbuildings are constructed with can severely influence the sum you shell out to make sure them. Getting something which is timber framed will set you back more because it is far more flammable. Creating with concrete and steel is going to be more unlikely that to burn, and therefore cost significantly less to insure.

You might be able to get a price reduction on your home insurance when you have a safety program or alarm system. It's not sufficient to possess community alarm -- to be eligible for the discounted, you typically have to have a supervised service, and also the insurance carrier will demand proof of this, so come up with a version of your watching program arrangement to provide them.

When maintaining information of the possessions in the case of the need to location a declare, have images associated with an important or huge solution things. The images are often accustomed to prove value, and track down similar items to determine replacement expense. Have a duplicate of your photos within a protection down payment box at your banking institution.

Most fundamental household owner's guidelines only include jewelry for one to two thousand bucks. If your jewellery is worth more than that, you'll have to add more protection to the coverage. This can enhance your quality but will be worth it regarding burglary, flame, or other losses of your goods.

In case you run a residence-based company, you may not have access to business liability insurance in your Home insurance coverage! You must contact your insurance carrier and have a different insurance coverage to protect any damage or harm your company may cause. As an example, if you have daycares you have to get yourself a different insurance policy in case any of the children are hurt.

You shouldn't confuse your purchase cost with the money it will take to repair your property. The whole lot your own home sits on is in the purchase value, but it really won't burn up lower. Make sure your home for simply how much it will price to repair it, plus the price of your possessions and discover in the event you haven't been purchasing an excessive amount of insurance.

To stop potential problems when filing boasts, be sure that your higher worth possessions are covered. Because of plan limitations, a few of the more expensive things you very own may not have automatic insurance coverage. It is possible to ensure your belongings are cared for by adding a certain endorsement to the insurance coverage.

http://www.sooperarticles.com/finance-articles/insurance-articles/standard-things-know-when-looking-home-insurance-841875.html

Home insurance

Property Insurance Is In Great Demand

Nowadays, home loans come tagged with property insurance and most people prefer it that way.

Banks are also comfortable with this trend have come forward to lend finance to pay the insurance premium. Home insurance or Property insurance offers a safety net which has become important in the context of people going for bigger loans because of the unprecedented increase in property rates. Borrowers as well as banks do not want to take chances.

When a borrower takes Property insurance, he can be sure that banks would not pounce on his family if he dies before repaying the loan. Also, in case of fire, theft and damage to property in natural calamities, the borrower gets compensation from insurance companies. Banks which sometimes face difficulty in recovering the loan amount from dependents, are now advising applicants to go for Property insurance. The banks usually pay the premium themselves and adjust it in the monthly installments being paid by the borrower.

Article Source: http://EzineArticles.com/1096246

House Insurance

5 Smart Ways to Save on Your Home Insurance

Everyone loves saving money and when it comes insurance, it should be no different than any other purchase. Of course, insurance companies don’t usually have coupons you can clip from your Sunday newspaper so you’ll have to do a little more research and digging to make sure you’re finding all the discounts. Below are a few tips on ways you can save on your home insurance without too much effort. In fact, you might already be eligible for some of these!

Safety Devices
Alarms of any sort can protect your home from damage and also prevent theft. Therefore, if you have a smoke alarm, security system and/or fire sprinklers, you’ll definitely want to make sure that your insurance company is aware of them. Make sure you inquire about any associated discounts that come with having these devices in place. In some situations, insurance companies may ask but they don’t always translate into a discount, so definitely verify any possible discounts. If you don’t already have the device, you might want to inquire with your insurer as to how much of a discount is available and that may help you decide if it makes sense to install one.

Affiliations
Insurance companies have really moved boldly into the world of affinity marketing, offering special programs or discounts to people affiliated with certain groups. If you belong to a college alumni association or professional trade association, you may be entitled to a discount on your insurance policy. You should look for these in both places: check with your group to see if they have a relationship with any insurers and also check with your insurer to see if they offer affinity discounts. Simply by being affiliated, you might end up with a nice savings on your policy.

Multi-Policy Discount
One of the most common discounts is given if you have more than one policy with the same insurance company. To benefit from this, you should find out if you add your personal umbrella and automobile liability policy to your home insurance company’s offerings, what resultant savings would be due. Another benefit to having these policies with the same company is that your umbrella policy will likely tie in better with your home insurance policy and auto policy as they are underwritten with that in mind.

Make Updates and Repairs
if you have very old plumbing or electrical wiring, your insurance company might actually see your home as a bit of a hazard. Maybe you also have an old, wood roof that both leaks and is susceptible to fire. While you may not receive a discount for updating these items, you will likely pay less in premium once the upgrades have been completed. You might not realize it, but it’s possible that you are currently paying a higher premium for your home insurance due to your outdated and potentially risky home.

Good Credit
In some states, insurers might use your credit in consideration of what to charge you for your home insurance. Therefore, it’s important that you maintain strong credit. While this may seem odd, you should look at it from the insurer’s point of view. Someone who does not maintain good credit may also seem like a risk when it comes to maintain their home. Additionally, those who are financially stressed may be more likely to make insurance claims for the money. Whether or not you agree with the practice, it is unfortunately out there so you need to stay ahead of the game.

While these are not the only ways to save money, they certainly are tools available to virtually everyone who buys insurance. You should definitely take advantage of whatever savings you can take advantage!

[Source: https://houseinsurance.quora.com/5-Smart-Ways-to-Save-on-Your-Home-Insurance]

HOUSE INSURANCE

Buy Home Insurance / House Insurance Policy which will protect not only your home, but also the belongings / content inside it.

Home Insurance Brokers Toronto Can Bring In Best Deals In Insurance Policies

We are living in a world there are a number of activities taking place around us. It is quite difficult to predict a fact that whether a person can reach home safe after going out. Even when people are thinking this manner, there are a number of uncertainties taking place in most of the houses, where they become prey to some of the worst accidents that can paralyze the entire family in a manner such that they cannot able to recover from the damages caused due to the incident throughout the lifetime.

It is a must for a family to have insurance for their home since it is quite easy to recover from the problems that have taken place in the house in a very easy manner. When people have to find brokers for the purpose of health insurance or other sort of insurance for vehicles and other properties, there will be handful of choices available. It is quite difficult to find home insurance deals since it is a process that involves estimation of a number of assets in a house starting from the door to the costly items present in the house.

Claiming under insurance

Insurance money for house insurance will be quite higher than other sort of insurance since they are actually the claims provided for the purpose of recovering the entire house, not just for the purpose of building the house again or to pay for only the items that are listed in the sheet at the time of document. Since the amount need to be paid is quite higher, home insurance quotes are rarely available.

When home insurance brokers Toronto are available for assistance, there is no need to fear about the insurance policies since they will bring in tons of policies available in the market in the home insurance that can suit well for the budget a person is interested to put in the aspects of premium that need to be pain in some periodic intervals. There are different types of insurance policies available with them that can able to provide better coverage for the entire house and the properties inside the house.

Whenever there is any need for insurance for home, they can be consulted directly without any intermediate person involved. Since the broker for insurance policies can be contacted directly, home insurance brokers Toronto offers superior services than any other kind of brokers available for finding best policies.

With the experience they have in this field for several years, then can able to bring in the range of policies, both new and the existing one for notice of people and assist them to go with the kind of policy that can fit for their purpose perfectly. Since home insurance brokers Toronto are available through means of online, there is no need to concern about finding them in person. For serving customers in a better manner, they are offering all kind of solution for finding insurance policies directly to their customers through means of online.

[Source: http://homeinsuranceindia.weebly.com/home/home-insurance-brokers-toronto-can-bring-in-best-deals-in-insurance-policies]

House Insurance

Buy Home Insurance / House Insurance Policy from Bajaj Allianz, which will protect not only your home, but also the belongings / content inside it.

Home Insurance

Should You Choose a High Deductible Health Insurance Plan?

As “consumer-driven health care” (CDHC) becomes increasingly popular, you may soon face the decision of whether to switch to a high-deductible health care plan with a health savings account (HSA) if you don’t have one already. 

The basic idea is that your health insurance premiums are lower but you have to pay more out-of-pocket (the deductible) before the insurance kicks in. To help you cover those higher out-of-pocket costs, you and your employer can contribute pre-tax to a health savings account, which allows you to use the money tax-free for qualified medical expenses like a medical FSA.  

But unlike an FSA, any money you don’t withdraw can be carried over indefinitely and used for any purpose without penalty after age 65. In fact, you might even want to pay your medical expenses out-of-pocket if you can and let your HSA grow to be used tax-free for health care expenses in retirement. Some HSAs allow you to invest in mutual funds for that reason. (This the health insurance plans we have at Financial Finesse.)

The general rule of thumb is that these high-deductible plans are best for the “healthy and the wealthy.

” In other words, the less health care you use, the more you can afford to put away in your HSA, and the higher your tax bracket, the more likely the high-deductible plan will make more financial sense for you. On the other hand, if you have a lot of health care expenses or are in a low tax bracket, a more traditional low-deductible health insurance plan may be better for you.

I recently spoke to someone on our Financial Helpline who seemed to fit the latter profile. He estimated that he would use the entire $2,400 deductible for the high-deductible plan and he’s only in the 15% tax bracket so he wasn’t sure that the HSA would be very beneficial. To make sure, we decided to crunch the numbers, assuming he spent $2,400 in health care expenses. (After that, both plans would have the same co-insurance covering 80% of his remaining costs.)

If he chose the low-deductible plan, he would pay $4,692 in premiums, $800 as his deductible, and $320 in co-insurance (20% of the expenses after the deductible) for a total of $5,812. 

If he chose the high-deductible plan, he would pay only $3,384 in premiums but $1,600 towards his deductible (his employer would contribute $800 to his HSA) for a total of $4,984. In addition, if he contributed that $1,600 of out-of-pocket expenses to his HSA, he’d get an additional $240 in tax savings. If he spends less than $2,400, the high-deductible plan becomes even more favorable .

So even though it appeared that he was a better fit for the low-deductible plan, the high-deductible plan ended up saving him more money even without contributing to the HSA. Adding the tax savings from the HSA and the possible savings of potentially spending less than $2,400 on health care was gravy on top. 

Here are some things you want to make sure you factor in before making your own decision:

1)      What’s the difference in premiums, deductibles, and co-insurance between the plans?

2)      Will your employer contribute to your HSA?

3)      How much can you save in taxes by contributing to your HSA?

A wrong decision can cost you hundreds or thousands of dollars each year so don’t just jump to conclusions. Instead, answer those questions and run the numbers. The result may surprise you.

[Source: https://besthealthinsurancepoliciesinindia.wordpress.com/2015/11/20/should-you-choose-a-high-deductible-health-insurance-plan/

Tips for Buying Homeowners Insurance

Homeowners across the country value what they have: their homes and what’s inside them. Homeowners insurance protects your home and personal property. It also provides liability protection plus more. But over time, things change. To better understand how homeowners insurance works and what you need to know, Designing Spaces met up with one homeowner and an Allstate agent

Homeowners insurance can be a very expensive proposition but of course it’s essential it can protect your home against fire flood in even earthquake. Feel this can afford to build our homes for scratch and so earthquake is essential there are several ways to reduce your home owner’s insurance costs.

1.  First maintain a security system and smoke alarm in your home a burglar alarm can help lower your annual premium by up to 10 percent usually it’s required that it be monitored by a certain station but it’s good protection especially in these days of tough economic times smoke alarms are standard in most modern homes these days but installing them in all their home can save you 10 percent or more on your insurance bill.
2.  The second way to lower your insurance bill is to raise your deductible the higher your deductible the lower your annual premium you will be responsible for damage up to the cost of your deductible and your lender way limit the amount of that deductible.
3. Third look for multi policy discounts many insurance companies give a discount maybe if 10 percent or more if you have more than one policy with them this could be an auto or health policy in addition to your homeowner insurance. 
4. The fourth way is a little off the wall but if you pay off your mortgage your homeowners insurance will go down because companies assume that if you own your home outright you’ll take better care of it.
5. The fifth way to lower your home insurance bill is a senior discount if you’re over 50 and are willing to admit it you might be eligible for a discount insurance companies have different names for age preference policies they’re often called everything from senior discount to mature policy discounts if you qualify why not go for it.
6. And the sixth way to reduce your home insurance bill is to regularly review and compare your policy at least once a year compare your policy to other insurance policies available on the market you should also review your existing policy and note any changes that could lower your premiums also make sure that you have all the coverage that you need. 

Homeowner insurance is in this essay the while there are many ways to save money you should shop wisely there were some features that homeowners shouldn't skimp on when you’re buying homeowner insurance and you should know the difference and then shop around.

[Source: http://eduinsuknowledge.blogspot.in/2015/04/tips-for-buying-homeowners-insurance.html]

Should you review your Insurance after Home purchase?

Financial plans and the suggested course of action are based on the facts pertaining to you. When a financial advisor hands over a financial plan to you and suggests buying an insurance cover, the value of that insurance cover is based on factors such as your current income, expenses, goals, assets, liabilities and commitments. But circumstances change over time. New loans, increased salary, higher children education costs, higher expenses, are all variable in nature and therefore, evaluating one's insurance- is important. Let us understand this with an example. When Manish was 18 years old, his parents had purchased an insurance plan for him for Rs 10, 00,000, more as a tax saving mechanism. He probably was not even aware of it or the reason for this cover. Now Manish is 30 years old, getting married, and planning to purchase a new home for self and his wife.

His wife is a home maker. It is prudent to buy an insurance that at least covers the home mortgage amount. Since Manish has just started his career, the accumulated savings for down payment may not be more than 15% of the value of the property, and hence he would need to take a loan for the remaining 85%. Assuming the cost of the house is Rs 80,00,000, the loan amount taken would be Rs 68,00,000(@85% of value of house) Since Manish is the sole income earner for now, he should take a pure term insurance cover plan for the remaining Rs 58,00,000, after considering the existing insurance cover of Rs 10,00,000. This is done to ensure that in case of an unfortunate eventuality of his death, his wife is not left with a home loan burden and no income to pay that loan. She would not be faced with the financial trauma of selling the home to repay loan to the bank.

The proceeds from the home insurance cover would be used to repay the mortgage to the bank and she would continue to stay in the home. Again, in his absence how would she continue to maintain the same lifestyle and manage the household expenses? She is a home maker and has no source of income to fund the living expenses. Therefore, while Manish is re- evaluating the life cover needed at the time of purchasing the new home to cover his mortgage value, he should also consider protecting his family to maintain the same standard of living, should something happen to him to ensure cash flow of the household is not affected. He must therefore, consider a pure term insurance plan that would pay a lump sum to his wife, should anything happen to him, so that she can deposit the amount in the bank and fund the living expenses year on year till her life.

For that, the present value of income that is used for the family discounted by inflation for the remaining tenure will determine the life insurance needed by the life assured. Let us say Manish’s gross total income is Rs 5,00,000 per annum. His personal expenses are Rs 1,00,000. His personal income tax payable is Rs 23690. Premium paid by him for his personal life insurance policy is Rs 20,000. Amount available for his family is Rs 3,56,310. Lets round this to Rs 3,57,000 per annum. This is the amount his family would need year on year in his absence to maintain the same lifestyle until retirement. The human life value for Manish is calculating the present value of all future incomes that he would contribute to his family for the next 30 years (60-30), which is Rs 40,19,028 assuming a discount or inflation rate of 8% per annum. This amount does not include the assumed increase in income that Manish would get through his career. Therefore, if Manish dies at age 31 years, his family will receive the above amount that will sustain their lifestyle needs in his absence for their remaining life. 

If Mr. and Mrs. Manish are planning to have children, the insurance cover would increase with added dependents and responsibilities of education costs. Another important cover one must buy is personal accident insurance cover to protect oneself from accidental dismemberment. This means loss of limbs or a part of your body that would not allow you to carry on work with the same level of income. With reduced income, how would one service the mortgage payments? Therefore, there are policies that pay a part of the mortgage to the bank, in case of partial/ total dismemberment. Homeowners need to purchase home insurance to protect their homes and personal property.

Therefore, you need to re-evaluate the replacement value year on year. Change in Coverage available- With so many changing terms and conditions and coverage rules, it is important to evaluate what is the best package available presently to protect your home against damage. For example, fire, theft, storm, reimbursement against additional living expenses, doctor visits in case of personal damage, are coverage items to reconsider. Change in structure- If there are modifications made to the house structure, like addition of new rooms, remodeling, the added costs of replacement should be incorporated in the new policy. So think twice, before tucking away that insurance bond document in the drawer the next time.

[Source: http://www.moneycontrol.com/news/insurance/should-you-review-your-insurance-after-home-purchase-_4160221.html?utm_source=ref_article]

How to Choose the Best Home Insurance Company in India

The prices of home insurance can vary. This is why it is important to shop around for the best home insurance in India which can provide adequate coverage without burning a hole in your pocket. Most people avoid taking a home insurance policy just because they think that the sophisticated alarm systems and locks that they have installed are adequate for protecting their home. However, despite the best protection measures there is always a risk of thefts and damages caused by natural disasters. This is why there is a need for a taking a home insurance policy which is a much more concrete step in covering these risks.

Along with the price and the type of cover, it is also important to check the home insurance company while comparing the policies. Here are some

Tips for Choosing Home Insurance in India

Check the Premium and Coverage

The first thing you need to do is evaluate the risks your home faces. For example, if you live in an area that is prone to natural disasters such as floods, then you should ensure that the policy covers these risks. Apart from natural disasters, your home insurance policy should cover against the financial loss caused by the damage to the structure and/or contents of your home due to man-made disasters. The policy should also cover jewelry and valuables. For example, home insurance policies by Bajaj Allianz General Insurance cover jewelry and valuables in the event of burglary, house breaking, waylaying, and snatching.

While checking the coverage, it is also important to check if the premium for the home insurance policy fits your budget. You can solicit quotes from individual insurers or use price comparison sites to compare quotes online.

Look at the Service

The hallmark of a good insurance company is the customer service standard of the company. Does the insurance company have a good turnaround time? Does the company have knowledgeable customer service representatives who can resolve your queries while buying the policy? The company should be equipped to assist you at virtually any time and the service standards of the company should be high.

Know the Claim Settlement Ratio

Your premiums may be low but it may be fruitless to opt for the company if the claim settlement record of the company is not good. The very purpose of insurance will be defeated if the claim is not provided for when required. Check the company’s claim settlement ratio along with the duration for claims settlement while looking for the best home insurance in India.

Focus on Financial Stability

The financial ratings of the company are important to assess the financial stability of the company. For example, ICRA has reaffirmed IAAA rating to Bajaj Allianz General Insurance Company Limited. The rating indicates highest claims paying ability and shows the fundamentally strong position of the company. This is indicative that the prospects of meeting policyholder obligations are among the best.

Keeping these factors in mind can help in choosing the best house insurance company in India and find the cover that suits your need and your budget.

[Source: https://support.bajajallianz.com/support/how-to-choose-the-best-home-insurance-company-in-india/]

Home Insurance

First time buyer home insurance explained

Buying your first home can be a daunting experience and with a million and one things to do; it’s easy to overlook the basics. However, no matter how hectic things get it’s essential to arrange the right home insurance; otherwise if things go wrong you could be left seriously out of pocket.

Recent research has thrown light on the lack of understanding amongst first time buyers surrounding certain aspects of the purchasing process. Nearly half of those questioned admitted they hadn’t budgeted for buildings insurance when calculating costs and a third were unaware that buildings cover was needed to get a mortgage.

When it came to getting an insurance quote over half ‘guessed’ vital property details and more worrying still one third arranged cover with inaccurate details. Estimating rebuild costs proved a common area for misunderstanding with a quarter of first time buyers simply using the purchase price. 

It’s an expensive mistake to make as rebuild costs are usually significantly lower than the property price and that means lower insurance premiums. An accurate calculation of your property’s rebuild costs should be included in your surveyors report.

First time buyers often assume their mortgage provider is best-placed to arrange home insurance, and are surprised to find how easy it is to find great deals elsewhere. As with all financial products it’s important to shop around and if you choose a reputable broker they’ll do all the hard work for you.

While buildings insurance is a prerequisite to get a mortgage; contents insurance provides a cost-effective way of protecting your possessions against fire, flood and theft. Buying your first home can be financially taxing and nearly half of those questioned didn’t have contents cover, saying they either couldn’t afford it or they didn’t need it.

Again the figures point to an unfortunate lack of understanding, and perhaps if first time buyers knew that the average home contained £55,000 worth of contents and the average policy cost just under £2.50 a week, they might think differently.

If you are a first time buyer looking for a great deal on your home insurance, you’ll have to go a long way to beat Quoteline Direct. With over 45 years’ experience we’ve got access to some great deals and our experienced consultants can help with any tricky questions.

[Source: http://homeinsuranceindia.tumblr.com/post/132662311452/first-time-buyer-home-insurance-explained]

Why is it Essential to Buy Home Insurance in India?

Nilesh Naik stood among the ruins of his house. That was not fair! He was so careful with everything. He bought the safest possible equipment, invested in the best of the electrical fixtures and wires, had circuit breakers and ECBs to rule out the slightest chance of the short circuits. His house was built with lot of care and supervision, earthquake proof and strong enough to withstand the mightiest of the storms.

A cylinder blast at his neighbor’s house ignited the dried bushes around that house. The inferno that resulted raised the temperatures so high that the flames soon enveloped Nilesh’s house and reduced it to cinders. This was so unfair! He was so careful with his domestic cylinder and kept his yard so clean of dried grass and bushes!

The building of the house was a culmination of a dream and of saving and cutting corners for 25 years. He was so keen to build and own his house without a loan. To be loan free and a king of his own small kingdom. To retire so peacefully in a few years. It was as if the clock was turned back 25 years and he had to start all over again but without youth in his quiver.

He was reminded of the visit from his friend’s son who had taken up a home insurance agency. He could clearly remember the conversation.

“Why don’t you insure your house, uncle?”

Nilesh remembered thinking at that time, I know this fellow wants to earn some commission and is trying to push a policy I don’t need. He wondered how to tactfully say no.

“I am already financially exhausted after spending so much on building this house. Maybe next year, beta “.

“All the more reason, Uncle. This policy is not for the house but for the money you spent on building it . You are ensuring that you have it back in case something happens and you are able to restore it”.

“Nothing can happen. You have seen the quality of material I have used and so many precautions we take. You should try and sell this to my neighbor. He will need it. He is the most careless fellow I have seen”.

Alas ! The neighbor did buy that policy and will be able to build his house again. For Nilesh, he would need to find the strength to dream again.

This story is an excellent example of the importance of home insurance. We put in our life’s savings into our home. It is important to keep it safe with the right home Insurance that protects your home and the contents inside from damage.

To protect your home from unforeseen calamities and dangers, here is more information on our home insurance cover!

[Source: https://support.bajajallianz.com/support/why-is-it-essential-to-buy-home-insurance-in-india/]