Things you should know about a home insurance policy

•Home is supposed to be your most prized possession and protecting it cannot be called an unnecessary expense.

•Most people think of home insurance as an unnecessary expense

•But you will only realize until you actually need it

•Buying the right home insurance policy will be worth all your money invested

Tips to consider before buying a

policy

Know your requirement:• Know the actual value of your home, only then you will be able to decide on how much of home insurance you need

• Do not solely rely on insurance agent, and keep a self-check on your home’s value

Understand the risk:Your premium will depend on several factors such as

• Pre-existing damage in the house• Living habits• Crime rate in the neighbourhood• The area at which your house is located• Proximity to the highways

Higher the risk of something happening, higher will be the premium

Keep a check on things that can save you premium cost:

You can actually save a lot of money by keeping a few things in mind• Hi tech security system• Burglary alarm system• Fire alarms and sprinklers• Advanced heating systems• Advanced wiring and electrical system for the home• Proximity of home to fire department • A home located near a police department• Well-structured and maintained stairs and sidewalks