Air pollution, Water pollution and the cutting of trees are changing the climate for the worse. Global Warming is causing frequent natural calamities all over the world.
On May 3rd, 2018, a dust storm struck Rajasthan and wreaked great havoc and destruction. Around 27 people died and 100 people were injured in the storm. Several buildings were destroyed in the dust storm. Walls of buildings, roofs of houses and entire building structures collapsed.
While protecting yourself is paramount, it is also important to protect your home from such disasters. Hence, it’s very important to buy a Home Insurance policy.
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Yes, you need to protect yourself by availing a Life Insurance plan, but it is also important that you protect your house from natural calamities. Though you have no control over nature, you definitely can protect your home. The best way to protect your house is by getting it insured.
Home Insurance Add-ons:
A comprehensive Home Insurance Plan also called Householders Package Policy has two parts, structure Home Insurance and Content Home Insurance. In case of a disaster, the insurer not only covers the reconstruction expenses of the structure of the house, it also covers the loss of the damaged contents of the house. Apart from basic Home Insurance coverage, you can also get additional benefits by availing Home Insurance add-ons. Following are some of them:
1. Flood, thunder and storm add-ons:
Some Home Insurance policies don’t offer cover against storms, floods and thunder in a basic Home Insurance plan. Others cover them, but only if you buy an add-on to get natural disasters covered.
Therefore, if you live in areas prone to such calamities, be sure to check with your insurer if all these natural calamities are covered in your policy.
You have many online portals which let you compare options. Do it and then decide which one suits you best.
2. Jewelry add-ons:
Jewelry is a precious asset possessed by almost every family in India. It costs a fortune. Therefore, your jewelry needs protection against natural calamities and human activities. Content Home Insurance plans offer cover for household goods. Only furniture, electronics and so on are covered. Very few Content Home Insurance Policies cover loss of jewelry, gold, silver and so on. However, this coverage may not be enough.
So, you need to get adequate cover for your jewelry.
3. Alternate accommodation add-ons:
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If you ever have to shift to a rented house when your home is damaged due to a natural calamity, an alternate accommodation add-on to your regular Home Insurance covers the rent.
Therefore, with an alternate accommodation add-on policy, you will not only get coverage for the repairs, you also get paid for an alternate accommodation till the repairs are done.
4. Replacement add-on:
This add-on is available with comprehensive Home Insurance and Content Home Insurance plans. This add-on will not reimburse you for the value of the affected items. Instead, your damaged and lost items will be replaced with new items.
Note: Only items that are 5 years old or less are covered under this add-on.
5. Worldwide add-on:
Worldwide add-ons are for those who travel frequently. This add-on covers any damage to your belongings such as a laptop, camera, and so on during a journey.
Now that you are aware of the various Home Insurance add-ons, avail the one that best meets your requirement and protect your house and belongings.
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