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Disasters don’t come with prior warning. More often than not, the after effects are far worse than the disasters themselves. A major source of worry is from the financial losses suffered due to the destruction of one’s house & property. Even though such losses cant be wished away, they can be mitigated to an extent. Which is where Household insurance steps in. Several insurers in the market offer these today.
Some things to remember
- In its basic form the household insurance covers the building structure & it’s contents against certain occurrences.
- Broad sections include burglary, fire & allied perils, breakdown of domestic appliances, TV sets, pedal cycles, personal accident, public liability, plate glass & all risks - which include jewelry & valuables.
- Fire & allied perils, which is the most common, includes cover against fire, earthquakes, flood, landslide, storm, riot, terrorist attack among others.
- However there are exclusions, which are generally, mentioned in the policy documents. Hence one should read the documents carefully to avoid nasty surprises later.
- To ensure faster claim processing keep all your documents in order. Don’t forget to take photographs of the damage - which effectively prove your claim. Quotations for repair activities also help speed up matters.
In today’s risk prone world it makes good sense to insure our homes. After all doesn’t the old English adage exhort us - ‘Better safe than sorry’!
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