Key Points
Though it wont lessen the emotional distress of losing ones belongings and seeing ones house covered in soot, a basic home insurance policy can cover the financial loss..
If you have highvalue items in your house, you should consider buying an additional cover for the contents, says Gurdeep Singh Batra, Head of Property Underwriting, Risk Engg, Global Accounts and Coinsurance, Bajaj Allianz General Insurance..
A multi-year policy saves the buyer the trouble of renewing it every year, locks in the premium amount for the future, and even takes care of inflation by way of 10% annual increase in home building cover, says Srabasti Dhali, Vice-President & National Manager, PCG & Home, TATA AIG General Insurance...
The items to be covered (furniture, artefacts, clothing, appliances, gadgets) are specified and insured for an agreed value determined by the customer and insurance company...
Gadgets in the house can also be covered against breakdown. Here, again, the items have to be listed and insured for an agreed value determined by the customer and insurance company...
