Home In­sur­ance

What does it re­ally mean?

Consumer Voice - - Contents -

What do you un­der­stand when you are told to take a house­hold pack­age in­sur­ance pol­icy? A lay­man will most likely un­der­stand it as in­sur­ance cover against house dam­age or dam­age of the con­tents in­side. How­ever, if it is not an ad­e­quate in­ter­pre­ta­tion and the pol­icy cov­er­age is wider than this un­der­stand­ing, does that mean that the wider scope needs to be fully un­der­stood? Yes, and that’s why we are of­fer­ing here an in­sight into the whole gamut of house­hold in­sur­ance, to help you un­der­stand the con­cept and its ap­pli­ca­bil­ity in real-life sit­u­a­tions.

Ahome in­sur­ance pol­icy is as much for the safety of, well, your home as it is for peace of mind. Af­ter all, who looks for­ward to un­pleas­ant sur­prises or shocks, whether in the form of nat­u­ral or man­made dis­as­ters, or bur­glar­ies or ac­ci­dents? The least that we can do is to be pre­pared to deal with them and mit­i­gate the losses. This re­port will help the unini­ti­ated un­der­stand the var­i­ous as­pects of a home in­sur­ance pol­icy and per­haps zero in on one that com­ple­ments their spe­cific needs. You will, of course, com­pare var­i­ous home in­sur­ance quotes to un­der­stand clearly the benefits and ex­clu­sions present in a par­tic­u­lar pol­icy and then make the fi­nal de­ci­sion.

A stan­dard house­holder’s in­sur­ance pol­icy in­cludes three es­sen­tial types of cov­er­age. They in­clude: a) cov­er­age for the struc­ture of your home; b) cov­er­age for the con­tents (ma­te­rial as­sets); and c) cov­er­age for peo­ple (fam­ily mem­bers and third party). It is pos­si­ble to choose the cover amount based

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