10 things you should know about your home insurance
10 THINGS YOU SHOULD KNOW
ABOUT YOUR HOME INSURANCE
Home insurance is important as it secures your house and your
valuable possessions from undesirable events. Moreover, if you
are planning to take a home loan to buy a new abode for you and
your family, then taking a home insurance can be compulsory for
A home insurance can be very expensive if you do not choose a
policy wisely. So make sure you know these 10 things about your
You must note all the items that will be covered under the
policy. This is because unless you will not have the proper
knowledge about the scope of your policy then you would
not be able to act instantaneously at the time of a claim.
Hence, you should not blindly sign the agreement and read
the policy document carefully.
1. KNOW WHAT ALL IS COVERED:
As stated above, the scope of the policy is also determined
by the types of coverage that are excluded. While buying a
home insurance, you must know what all the policy won’t
cover so that there is no regret afterwards.
2. WHO KNOW THE EXCLUSIONS:
You must know about the insurance company before you
buy the policy. The company must be trustworthy, reliable,
and credible. It must be responsive to your demands,
especially when you make a claim.
3. KNOW ABOUT THE INSURER:
Shopping around and comparing different policies are
two effective methods of exploiting competitive premium
rates. You too can follow them and opt for policies that
offer additional discounts (for senior citizens, army
4. WHO KNOW WHAT WILL REDUCE YOUR PREMIUM:
This amount is your contribution to your total coverage.
While buying the policy, know how much your pocket
will have to bear.etc.
5. KNOW THE DEDUCTIBLE:
6. KNOW THE SECURITY AND CONSTRUCTION:
The security features and the construction materials
determine the price of your home insurance policy.
You must know which policy will be suitable for your
Keep a record of all your covered items carefully so that
the list can come handy when you have to make a
8. KEEP A DETAILED ACCOUNT OF ALL THE ITEMS COVERED:
9. REGULAR MAINTENANCE:
Proper maintenance of your house is also important
apart from getting it insured. This is because the
longer you can delay your claim, the more discounts
you will get.
Sometimes, a policy may agree to cover a certain
valuable of yours, in case of theft, but only to a certain
extent. For example the jewellery higher than the value
of Rs. 5,000 will not be covered under a certain policy.
Be wary of such limits.
10. KNOW THE LIMITS FOR COVER:
Knowledge of these important facts can help you to take
precautionary measures while buying a home insurance. Or else you
may not be sure about whether your existing policy is good for you or
not, thus, considering these points can ease your way.
Hope the above information shared with you will be helpful for buying
a new insurance policy.
If you are interested in buying general insurance, please feel free to
reach us from any of the touch points mentioned below and we'll be
happy to assist you.
Call us Toll Free No. : 1800-209-5846
or SMS 'LTI ' to 56070 58 (56070-LT)