Why should you buy home insurance?
A house is one of the most significant investments a person will make in their lifetime. It takes a lot of effort, both financially and emotionally, to be able to buy your own house. However, some hazards can damage your property.
But where there is risk, there is insurance for it. There is home insurance for risks to our homes. Most people purchase this insurance combined with their home loans. It protects their finances to some extent from various housing risks such as fire, natural disasters, or theft. However, many people are still unaware of how home insurance works, and thus here’s all you need to know about buying a home insurance.
You take care of home insurance, we take care of construction of your dream homes!
What exactly is home insurance?
Home insurance is purchased to protect against financial losses caused by property damage or loss. Home insurance comes in two varieties: one that covers the loss of the property’s contents and another that covers losses caused by damage to the property’s structure. Electronics, furniture, jewelry, and other valuable items are all covered by contents insurance. Structure insurance includes coverage for property damage caused by natural disasters.
Major types of Home Insurance
Comprehensive Home Insurance
Under this policy, your home, its contents, structural capacity, and family members living in that house are all covered under a single policy.
Structure insurance
This insurance protects you against losses caused by structural damage to your home during natural or man-made disasters. Coverage can also include theft and terrorist attacks.
Content insurance
It is the type of insurance that only covers the damage or loss of contents within the home, such as electronics, jewelry, and other valuables. The coverage amount is determined by the market value of the stolen or destroyed accessories.
Here are some of the reasons why you should get home insurance!
To recover from natural and man-made hazards
Home insurance protects your dream homes from damage caused by natural disasters such as earthquakes, floods, and lightning, as well as human acts such as theft or damage.
It also financially prepares you to recover from the loss and reconstruct your home.
To covers temporary living expenses
Your home insurance company will pay your expenses if you need to temporarily rent another apartment or move into a hotel until your home is repaired/rebuilt.
To take care of the loss or damage to your personal possessions and assets
Some of the home insurance protects not only the structure of your home, but also your personal belongings such as jewelry, clothing, appliances, furniture, and other valuables.
To protect yourself from debt
Liability coverage in home insurance covers personal injuries or property damage to others for which you or members of your family living with you may be legally liable.
While buying their most awaited homes, many people consider the option of financing for the purchase of their new homes. It is very important to be careful while making a buying decision and to take care of the Where to buy the property, which builder to opt for, which home insurance to buy before proceeding further.
For taking care of all your safety related queries, quality concerns and choices, Rajesh Vyas Groups is one of the most renowned construction groups in Pune. We at Rajesh Vyas Group, prioritise customer satisfaction, best quality construction and comfort to our customers.
If you are considering buying a new home from Rajesh Vyas Group in the heart of Pune City, in Ideal Colony or Kothrud, we would suggest you to pre plan for your home insurance to safeguard your dream homes further.
To obtain a home loan from a bank
If you are considering a financing option or a home loan, to buy a home at our upcoming projects, you need to know that, many banks only consider giving you a home loan only if the property is insured. In fact, having home insurance is a prerequisite for being approved for a home loan for many banks.