What You Must Know about Home Insurance!

They say he will build a house and get married. Most people don’t insure the house they take so much trouble to build. Home builders who get bank loans and government loans are compulsorily insured, so only they join the home insurance scheme. And that’s only until the loan is over. Home insurance policyholders are not aware of the terms and conditions of their home insurance policy. Here’s what you need to know and do for them. 

Dream House

Prakash, who works as a school teacher, bought a built house. He also took out an insurance policy for the house. The Geyser water heater in the bathroom of that house overheated and caught fire, destroying half of the house’s belongings. When he contacted the appropriate insurance company, he learned that his policy did not cover the accident. But when Prakash started the policy, his agent added that the insurance would cover natural calamities, fire, and theft. But now he was very worried to see that the information he got was different. 

Insurance Plan 

What you know from this means that you should be fully aware of the pros and cons of your home insurance plan. Before you sign your policy you should check the full terms and conditions once. 


Once you get a home insurance policy, the company you have taken out the policy with will insure your home and its contents. The losses will be considered whether they are due to human error or natural calamities. 

Natural Disaster

Most policies cover products caused by natural disasters such as hurricanes, floods, thunder, lightning, and storms. Man-made destruction such as loss due to fire, loss due to air crashes, riots, strikes, and mishaps during missile testing is also covered. 


This insurance is generally not available for losses due to catastrophic events such as earthquakes. If you need insurance for that too, you can get this facility by choosing your option and paying an additional premium for it. The same goes for robbery and theft. 


Theft insurance is only available if items such as jewelry, and precious gemstones are kept in a safe deposit box. 

Which are not covered by insurance? 

It is important for you to know which perils are not covered by property insurance. You must realize that every year your property depreciates to a certain extent due to various reasons. You cannot make an insurance claim for these losses. 

Insurance companies do not provide coverage for electrical and electronic equipment and fire accidents caused by electrical and electronic equipment overloading. This is why Prakash was denied. Even if you have insurance coverage for theft, this insurance cannot claim against theft of money. 


Your insurance company will not cover your property if it is destroyed by an army or a war caused by a foreign country. 


Home insurance does not cover the value of the land on which the home stands, the site, or the building itself. Insurance will be provided considering only the building cost of the house. so, Will you consider all of these things before signing your insurance policy?

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