While most home owners are aware of home loan insurance, not many are aware of insurance policies that exist for one’s home. A home loan insurance policy insures the home owner from the loan liability in the event of the unforeseen taking place. The home insurance policy insures the articles in your home and can give you immense peace of mind knowing that all your home and valuables are protected from thefts and calamities
What is covered? A home insurance policy can cover only the structure of the home, or only the contents. A comprehensive policy can cover both. The policy covers the losses to the structure and contents on account of any natural or man-made calamities. Though not comprehensive, these could be: fire, lightning, damage caused by impact of an aircraft, explosion of any sort, storm, cyclone, typhoon, tornado, flood, riot, mob violence, landslide, earthquake or any type of leakage, bursting of pipes, etc. Further, the contents of your home are also protected against burglary or theft or an attempted burglary. There is additional coverage available for terrorist activities and has become important with increasing threats on this front. Read Full : A guide to insuring your home