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