Home Insurance

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Home Insurance as a partner in tragedy

It is a blessing to have a partner with whom you can share your joys and sorrows. This is indeed significant when you have a home of your own. A house provides you with a sense of security. However, it comes with the responsibility to take care of the property’s maintenance and repairs.

Most people budget for minor repairs and the structure’s natural decay. But some unfortunate events often prove to be beyond our pockets. In such situations, it is not wrong to wonder why you should be paying for an accident or mistake committed by someone else.

This is where home insurance comes in as a partner in tragedy. Insurance is an indemnity contract to protect the insurer from contingency strikes that can create a great deal of financial stress.

Home insurance provides you coverage for not just your home but also its contents against losses incurred.

Let’s look at some of the general benefits of home insurance.

Standard Coverage


Wide scope of coverage: This insurance covers 12 types of risks, including fire and natural disasters like floods, lightning, and storm.

Added Benefits: Home insurance policies are also available for incidents like earthquakes, violence, and fender-bender damage to the insured person’s vehicles.

Restoration Amount: The policy covers expenses for the reconstruction of a building without depreciation of the property value. This assumes that you have bought a policy on a reinstatement value basis.

Hassle-free up-gradation: The policy allows annual revision of the cost assured to account for inflation.

Short-circuit damage: The policy covers any case of damage to the edifice in an incident of fire. However, it does not include damage to electric equipment due to an internal short circuit.

Main Exclusions

Inappropriate risk cataloging: Insurers give each location a different risk rating. Hence, incorrect labeling can result in the following scenarios:

Incomplete/confusing address: An incorrect address might lead to denial. One should also mention the correct floor.

Assurance of equipment: The guarantee/warranty details of all significant appliances inside the house along with other vital objects like a fire extinguisher should be correctly noted.

Wilful harm: The policy does not cover costs if the insured person wilfully damages an article.

Selecting your home insurance

The benefits of a standard home insurance policy depend on the insured person’s property specifications. The coverage is determined by the type of the house — a multistorey building or a villa on a sprawling landscape. The most important risk to declare is a basement if you have one. The insurance should specifically mention that. Similarly, if there is any commercial activity in your apartment that should also be declared.

This means one needs to research, compare and understand your needs before buying a home insurance policy.

With most information being available online, one doesn’t need to compare policies manually and can rather rely on some tools. SecureNow, with multiple insurer affiliations, can be your one-stop shop for comparing policies, seeking insurance advice, and buying a suitable policy.

There are a variety of factors that should be considered before taking home insurance, some of them being specifications of the property and insurance coverage amount.

SecureNow also provides facts about diverse insurance providers, a comparison of the individual benefits, and an opportunity to evaluate different quotes. Online insurance agencies also provide extra benefits like easy processing and constant support.