Do I need a home insurance

POSTED BY H M ON May 15, 2013 7:11 pm COMMENTS (5)

Hello Friends,

I have adequate term insurance & also mediclaim (self & company sponsored) however have been confused about Home Insurance.

Have just moved to a new apartment/flat of my own from a rented place earlier & have been wondering if i need to cover the risk by purchasing a home insurance for the structure & the contents inside.

If yes any suggestions for a product that forum members know is a good one. I would of course be doing my due diligence but wanted some leads if possible.

 

Thanks,

HM

5 replies on this article “Do I need a home insurance”

  1. Dear H M, Home suvidha is my policy.

    Thanks

    Ashal

  2. bharat shah says:

    as i understand , the home insurance covers only the building cost (and not the land cost), so one should go for building cost plus its contents( as optional), and not for current cost of the house.

  3. H M says:

    To add to the above the building is new and construction of the complex is still on.

  4. Dear H M, a home insurance is also must to save you from an unforeseen event of building collapse. I personally hold a policy from IFFCO Tokio. The one interesting feature which is not available in many other polciies but I do have in ITGI policy, in case of building collapse, I ‘ll live on rent, the same is also covered in my policy, which is not the case for other policies. 🙂

    Thanks

    Ashal

    1. H M says:

      Thanks Ashal,

      Have you gone for home family protector or home suvidha policy.

      For the sum assured what are the basic tenets to be followed? I am planning to cover the current price of the home + high value items that I have most of which would be electronics

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