Home insurance covers damage to the insured person’s home caused by fire, burglary and certain natural disasters like Earthquake, Floods etc as these potentially devastating events can wreck the whole financials of any individual. For example buildings & structures in National Capital region bear the added risk of Earthquake Damage as this whole region lies in Siesmic Zone IV.
Surprisingly, Home Insurance is a product which most people are not even aware of in India. The cost of this extremely important protection tool is just around 4000 to 5000 per year for an average sized dwelling.
When deciding whether to purchase a homeowner's insurance policy, keep in mind that the policy can save you possibly millions, of Rupees if your home is damaged or robbed. At New Vision we advise our clients that if we can pay 15000 per year premium for our car, surely we should protect our most important asset, our Home, by paying a miniscule premium per year.