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The Importance of Home Insurance

It all seems so childish when I had overlooked the necessity of a home insurance some years back. My grandfather had insisted that I get insurance for my house done as quickly as I could. A novice then, I had ignored the experienced man’s advice. I had planned to buy insurance later on when I would be free enough. I had invited my friends and relatives for the house warming ceremony and all had appreciated my beautiful house.


I shudder to think of the day I received a call from my sister informing me that the house was in fire. I rushed back from office to see that the entire kitchen was burnt and the drawing room partially in flames. The loss, I had calculated, ran into thousands of dollars. The home insurance would have given me the security against the damage caused by the fire.


Once the repair was done I immediately got the insurance for my house. It was then that I learnt that there are different types of home insurance policies that one can avail. The basic home policy includes eleven listed perils that the company will take care of. These include thunder and lightning, theft, damage due to vehicles or aircraft. Natural calamites like storm and eruptions from the volcanoes also destroy homes. The only exceptions are folds and earth quakes.


There is also insurance privilege for the tenants. These are called the renter’s insurance. The insurance pays nearly the total damage to property. Even the other affected structures near the damaged property, come under the policy coverage.


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