|Insurance is a thing that everybody need to have. You need insurance for yourself, your family members and for your property. You need to have a life insurance policy so that if you die suddenly your family members can claim for compensation to insurance company. It is very essential for you to have a mediclaim or health insurance policy so that if you or any one from you family need to get admitted in hospital you may get the money needed for treatment from the insurance company. Similarly you need to keep your home or residential property under insurance coverage so that if any damage occurs to it you get compensated for it. Home insurance is one of the most important parts of general insurance and there are thousands of insurance companies across the world that guarantee to pay compensation for any kind of damage to the residential property of people. Home insurance has proved to be one of the most essential thing for people and that is why the companies offering home insurance are now earning huge revenue by serving their clients throughout the year.
Insurance companies offer various types of home insurance across the world that does not only cover damage on residential properties but also of household properties in a residential property.
Building insurance and content insurance are the two most important types of home insurance that covers damages to both your house and the equipments that you possess inside your house. The only thing that is not covered under contents insurance is the fabric of your home. Damages that are covered by both types of home insurance are given below:
Damage due to fire
Damage occurring to house as an effect of riot,strike
Damage due to any kind of explosion or implosion
Effect of earthquake
Damage to house or electrical,equipments due to lightning
Damage occurring due to storm, cyclone, tempest, tornado, hurricane, flood and inundation
Damage due to impact by vehicles
Damage due to missile testing operation
Damage occurring due to subsidence, landslides and rockslides
Leakage from automatic Sprinkler installations
Damage due to air crash
Damage caused by bursting or overflowing of water tanks, apparatus and pipes
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