Home Insurance

October 3, 2008

In my previous post I have described about Health Insurance .Today I am giving my views about Home Insurance.

Home Insurance

It is a type property insurance that coves private home, also known as  Homeowners Insurance or Hazard Insurance .This type of insurance  protect a policyholder’s home, it includes  buildings insurance, where the outside of the home is covered, or contents insurance where the contents of your home are insured against theft or damage, it helps to secure your home from natural and man made catastrophes, it also insures  peace of mind by protecting the structure and the contents of your home, it is usually a term contract  that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium.

The Home Insurance covers Calamities they are:

  • Fire (If the house damaged with fire)
  • Lightning (Due to lighting or shot circuit)
  • Explosion & implosion (Due to ant type of Explosion)
  • Bursting and/or overflowing of water tanks, apparatus and pipes.
  • Earthquake (if the damage is due to earthquake)
  • Storm, cyclone, tempest, tornado, hurricane, flood & inundation
  • Subsidence, landslides and rock slides (if the home is in mountain area and got damaged due to landslide and rock slides)
  • Leakage from automatic Sprinkler installations
  • Damage due to impact by vehicles
  • Riot, strike & malicious damage (damage because of any third party riot or any type of  strike)
  • Missile testing operation (if the home is damaged due to missile testing operation)
  • Aircraft damage (If the damage occurred due to air crash)