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Types of Home Insurance Plans to Compare before Buying

Our home is the most special place in this world. It is a place where we make a life with our family and then sit in the same place to recall how it all started. If not this, then it is definitely the thing people work hard to create. Whatever it may be, the most important thing is to take care of it. Checking for repairing is not the only thing that we should look for, we should also prepare it for the worst case scenario. To help you with it, there are home insurance plans with a wide variety to choose from.

Types of Home Insurance Plans to Compare before Buying

In this article, we will discuss all the types of home insurance plans you can buy for your home sweet home. You must go through it before deciding on the house insurance you want to buy.

1. Comprehensive policy

The first type of home insurance is Comprehensive Policy that generally protects the complete building structure, its contents and the occupants. Most of these policies also cover the liabilities that may arise out of natural calamities, burglary, theft, and more. Also, it excludes willingly damages along with the pre-existing ones and manufacturing defects.

2. Home Content Insurance

Home Content Insurance is that policy which covers the items kept in the house like jewellery, electronics and more as per their market value. If you have this policy cover, then can be assured of getting the amount of the mentioned things upon loss or damage.

3. Structure Insurance

Structure Insurance covers the house against damages to the structure, roof, ceiling, kitchen, bathroom and other fittings with backyard and garages. Thes damages could be done against thefts, robberies, terrorist attacks and more.

4. Landlord’s Insurance

Landlord’s Insurance is for the houses which are constructed for the purpose of renting. This insurance should cover the landlord and the house against the loss of rent in certain scenarios. In addition to that, it also offers cover for public liability which means it will cover the amount to be paid for the damage to a third party due to unforeseen circumstances.

5. Tenant Insurance

Tenant Insurance covers your personal belongings which includes furniture, jewellery, clothes, electronic appliances and more kept at the rented premises. All of these things are protected against a lot of unforeseen circumstances which include fire, burglary, theft and more.

6. Fire Insurance

Fire Insurance insures your house and in certain cases its belonging too, from fire. This fire could be accidental, from a short circuit or more. It will help you recover from all kinds of massive destruction led by fire and will try to bring your house back to its old shape.

7. Public Liability Insurance

Public Liability Insurance covers the amount the insured becomes liable to pay the third party due to any kind of untoward incidents. So, you can stay carefree about the money that you would become legally liable to pay as damages to a certain third party.

8. Burglary and Theft Insurance

Burglary and theft are one the common and yet the most unforeseen events that can happen to your house. Insurances covering these reimburses the cost of stolen items in the house like electronics, jewellery, and more at their market value.

Conclusion

In this article, we learnt about the different types of home insurances, also called house insurances, that we should compare before we buy one for our dear home. Once we are through with the types, we can make an informed decision of insuring our house in the best possible way.

In addition to the above mentioned points, you should also explore the discounts available in the market on premiums. It ensures that you buy the right policy at the best rate possible. Do not undersell your house. Also, make sure you consider your future plans regarding your house before you buy a house insurance.

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I hope this article was helpful to you and you will be able to make a good decision for your house and your family living in it. I know a house is everything for the owner and which is why I have made this article. Please share this article with your friends and family members who you think need to know about it.

Also Read:

Motor Insurance Policy: Five Important Tips for Renewing it

Komalpreet

Words help me express the unsaid and we have come a long way while walking hand in hand like that so now I write about anything and everything that ignites the spark of inspiration in me.

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