The place that you call home is always precious to you. It is the fruit of your labor and love. Just take a look into the contents of your home. Imagine if you were to lose all or most of that to some unwanted circumstance! Several insurance companies are there who provide home insurance to protect your home for you. Insurance companies have come out with unique home insurance policies to protect it from various natural and man made disasters. Home insurance protects your house against burglaries, theft, fire, earthquake, explosion etc.
The amount of home insurance cover needed is calculated keeping a number of factors in mind. Area of house (in sq.ft.) location of property, approximate rate of construction (in Rs./sq.ft.) are generally considered by insurance companies. A property more than 50 years old is not insured. While some policies have a standard/fixed cover, others are flexible package, including a basket of coverage. The premium for such covers is higher than the standard cover. This is because the risk of the company insuring is more.
It is important to understand the importance of home insurance. Home insurances covers a home for fire damage, earthquake damage, and acts of vandalism under an ?all risks? policy, but if the policy states that the home is not covered for flood damage, than water damage as the result of a flood would not be covered. So protect your home and save yourself whenever disaster strikes without knocking! The home insurance claim procedure includes certain procedures. They may be listed as follows:
The call center registers the claim request after the individual furnishes all personal details and details of the policy taken.
A company appointed surveyor inspects the site and submits the loss report.
In case a surveyor is not appointed, an individual must submit documents to be insured to the company.
The claim is processed by company within 7-15 days.
On approval of the claim, a letter is sent to the insured giving the 6.approved amount of settlement.
Payment cheque is released.
Documents Required for Home Insurance Claim:
Duly completed and signed claim form
Copy of FIR
Final Report from police
Copy of all invoices, price lists
Letter of Indemnity from Insured
For Third Party Claims:
Claim form duly signed
RC copy of the vehicle
Driving license copy
Original policy copy
Original FIR copy
RTO transfer papers duly signed, mentioning that the vehicle cannot be located
While browsing through home loans also learn about the importance of home insurance Stay connected to know more about home loans.
|
|
