Buying home insurance policy? Top tips to ensure you are fully covered against loss

While buying a dream home, home insurance policy is taken as well. Generally, people buy the home insurance from the bank they apply for the home loan. But, if they wish, they can buy it separately from other insurers as well. People buy home insurance to get a safety cover for their home from any kind of disaster like earthquake, fire breakout, etc. However, insurance companies are also offering cover for theft, burglary and electric outage as well. Means not just your home, your appliances inside home are also covered under the home insurance offered by some insurance companies. 

Speaking on the features that are available in home insurance policies, SEBI registered tax and investment expert Jitendra Solanki said, "One must buy a home insurance while purchasing a home because generally it is not something that you buy on a regular basis. While buying a home insurance policy one should know about the features of the policy being offered to them because people have a myth that home insurance covers your home when there is any damage from disaster like earthquake, fire break out etc. but, it's not true. These days, insurance companies are not only offering claim on damage to your home but to home appliances like television, fridge, air conditioners and other high priced electronic items in the case of power outage."

See Zee Business Live TV streaming below:

Highlighting other features, another SEBI registered tax and investment expert, Manikaran Singhal said, "A home insurance gives coverage from any kind of burglary, theft too. So, one should keep the invoice of important home appliances, jewelry, etc. at a safe place because one would need those invoices while lodging a claim under home insurance policy." 

Singhal said that all insurers are not offering these features in the same policies, at least, the banks from where you get your home loan sanctioned. He suggested home buyers go online to identify the insurer who is offering the maximum features available. It's not mandatory to buy home insurance from the bank where you have applied for the home loan.