It takes a lot to make your home. Time, effort, and money goes into the process of buying a home. You do endless research, document verification and give a significant amount of your savings to buy a house. Apart from being a physically and mentally strenuous task, it also binds you emotionally. Despite the effort, the bonding, seldom do we think of getting this valuable possession insured and even tend to overlook. You get your life, health and even vehicle insurance done, but ignore one of the most significant assets you have for your family – your home.
What is Home Insurance?
Insuring your home is an important part of home buying and subsequent maintenance. Home insurance will stand by you in the event of any structural harm to your home by natural or man-made causes. There can be an outbreak of fire, an earthquake, flood, an incident of theft or vandalism in which your home is affected. So, there are different kinds of risks to your home and having a shield against them is your responsibility as the homeowner. Property insurance is more like a safety net on which you can fall back in the event of damage to your property.
Why Opt for a Home Insurance?
Now, let’s understand why it is a must to have home insurance.
So, enjoy complete coverage and protect your home against every calamity and theft. It will provide you with peace of mind and much-needed security in the event of any misfortune.
Types of Home Insurances
After knowing about the many benefits of home insurance, it is essential to have an idea about the different kinds of options that are available for you.
Tenants & Landlord Insurance: When living in a rented flat, a tenant should opt for insurance to protect the contents of the house. You don’t need to choose for a cover for the house, but protecting your belongings is essential even in a rented space. Likewise, the homeowner should take landlord insurance. This cover will come useful in the maintenance of the apartment. When the apartment is on rent, house upkeep remains the responsibility of the owner. Besides, it will also protect the loss of rent or any public liability.
Home Insurance for Apartment Owners If you are an apartment owner and plan to take home insurance, then the cover amount will be decided from a valuation report by local authorities. While for new flat owners the value of the property will be as per the sale deed. This kind of home insurance policy is applicable for people who own a flat in a multistoried apartment or have a builder floor. With such protection, in case of any mishap, a compensation amount is given to buy a new residence elsewhere.
Eligibility for Home Insurance
When you plan to take home insurance, you will need to meet the below criteria
Besides, you need to renew home insurance like your other policies. You can opt for a minimum one year to a maximum of five years’ coverage.
Fine PrintRead the home insurance policy document, carefully. The words are often different, and you must read and infer every clause diligently.
A Home, Before an Insurance
If you are still in the process of researching for your dream abode, then start and stop your search at a Valmark home. There are different Valmark projects in South Bangalore, which might be of interest to those who prefer a beautiful living experience. Home, which will be so dear to you that you will surely opt for insurance, secure it and safeguard your family’s future. One such experience awaits you at Valmark Apas. Just off Bannerghatta road, these luxury apartments in Bangalore are nothing less than a holiday destination. Loaded with amenities, the apartments come with a customizable floor plan, enabling you to possess a home as unique as you aspire. You can learn more about this project from here and connect with our team to book your home in this beautiful dwelling.
Disclaimer: All content provided in this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this article. The owner will not be liable for any errors or omissions in this information nor for the availability of this information
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