5 Important Questions You Need To Ask While Getting A Home Insurance In India

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Home insurance, like any other insurance covers your property of residence. It combines different insurance policies that protect the losses incurred to your home, its contents and your personal …

Home insurance, like any other insurance covers your property of residence. It combines different insurance policies that protect the losses incurred to your home, its contents and your personal possessions in case of accidents, thefts or calamity. Since the property area is vast, you must get into the fine points of every policy aspect to know whether or not you’re getting the optimum coverage. Listed below are few important questions that if clarified with your agent, benefits you greatly in getting the best deal for your home insurance.

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  • 1. #1 Does my home insurance policy cover the loss occurred due to the tenant’s negligence?
  • 2. * For the owners who give their house on rent, it is important to ask the agent this question. * He may suggest you some crucial points of inclusion in your policy that can cover from the damage caused by the negligence of your tenant.
  • 3. #2 Can I avail a discount on my home insurance?
  • 4. In case you have high detectible installed at your property such as smoke detectors, fire extinguishers, dead bolt locks, laminated glass etc., then you are eligible for discounts on your policy by almost every insurance company.
  • 5. #3 Does the premium of the policy differ with my location?
  • 6. * Often unnoticed, but the location of your house can get your premium rate altered. * For example, if your residential building is close to the fire station, the rate will change. Similarly, age, type and construction (brick or frame) of the building also affects the rate of premium for your property
  • 7. #4 What are the things excluded in my policy?
  • 8. * Ask your agent for all information about what things are included & excluded in the policy. * For example, acts of war, earthquakes, flood, etc.… are some of the points that need to be clarified at the time of taking the insurance as to whether they are included or excluded.
  • 9. #5 How much premium do you pay?
  • 10. * Ask your agent for all information about what things are included & excluded in the policy. * For example, acts of war, earthquakes, flood, etc.… are some of the points that need to be clarified at the time of taking the insurance as to whether they are included or excluded.
  • 11. Got more questions ?
  • 12. CommonFloor.com is India's leading property search portal. On a mission to make property search hassle-free, transparent and fruitful; CF has best of breed property search on maps, property search mobile apps and an extensive section for knowledge resources and advice in real estate.