Home insurance provides financial security in the event of a flood or earthquake

- It is a must have, for any Affiliate, promoting any program

Ahmedabad. Monday, July 20, 2020

Many states in the country, including Assam and Bihar, have been hit by floods. These types of natural disasters have submerged people's homes or flooded some people's homes. It has caused a lot of damage to their homes and belongings. But insuring your home can save you money. Under this insurance policy, you get cover in the event of fire, short circuit and natural disaster.

If you have taken out a home with a loan, home insurance is much needed
If you bought a home with a loan, this insurance becomes very important. Because if your home is damaged in an accident, the insurance company will reimburse you. You don't have to carry the burden of home repairs.

There is also home insurance
If you insure a home, then you can insure both the design and materials of the home. The design of the house is insured, while the furniture of the house is priced according to the market price. The cost of a home is determined based on the cost of construction on the date of insurance.

Are there three types of home insurance?

Reinvestment Value Insurance: It covers the built up area of ​​the house and the current value of the house. For reinvestment cover, the insurance company has the actual value of the home when making a claim. The price paid may be less than the sum insured.

Insurance at market price: When insurance is taken on the basis of market value or return value, depreciation is calculated according to the age of the property.

Aggregate Value Insurance: Insuring your home at aggregate value means that the insurance policy pays the insured the amount in which the property has been purchased. The insured can also take out the sum insured in case of loss.

Insurance coverage is available at these events
Home insurance policy covers fires, lightning, riots, storms, tsunamis, floods, landslides, missile testing, theft, falling of airlines, terrorist attacks and other natural and man-made disasters.

How to get a claim
If there is an accident in your home, you have to submit a copy of the police FIF along with the claim form to claim under the home insurance policy, a copy of every bill and repair estimate except the final report received from the police. Your claim will then be settled soon.