A home is one of the most valuable assets and probably the costliest investment for any individual. Acting as a shield against all odds, it protects you from the perils of the world by standing tall in the face of natural or man-made disasters. But what can we do to protect our homes in return? The real question is should we stop here or walk an extra mile to protect our homes? Home insurance is the one safety net that can safeguard you and your house from unforeseen circumstances.

Nowadays, more and more people are investing in the home buying process. Especially posh localities such as some societies & flats in Noida Extension. 2BHK flats in Noida Extension have become the new hotspot of the real estate industry, as the wonderful advantages of seamless connectivity, overall economy, easy access to amenities and affordability are a major selling point for developers. There is also a need to evaluate the importance of investing in home insurance as most people often overlook this precautionary measure deeming it unnecessary.

Despite a significant surge in the number of homebuyers in India, home insurance is an underutilized form of insurance as people either ignore the consequences of not investing in their homes after their ownership, believe that it is a waste of money or they lack sufficient information to make the right choice. Either way, it is the homebuyer who is at risk, mentally, emotionally and financially, if any unforeseen circumstance takes place in the future. There are several reasons why purchasing a home insurance policy is a must. But, firstly, let’s understand what exactly home insurance is.

What is home insurance?

Home insurance or homeowners insurance is a sort of insurance that covers the losses & damages on the property plus protects the interest of the owner. This type of policy covers interior as well as exterior damage, loss or damage of personal assets, and injuries that arise in case of an accident while on the property.

You might ask about the importance of home insurance. Here, we’ve listed down five reasons why you need home insurance for your dream property in Noida Extension:

1. Protection against natural disasters: Natural disasters like cyclones, tornados, and earthquakes often cause havoc leading to the damage and loss of property. Home insurance gives you the necessary protection against such calamities. 
2. Protects more than just your home: Comprehensive home insurance policy protects more than just your home. These policies cover external as well as internal damages, therefore, providing 360 degree-security in any unfortunate event. Consequently, you can also add items to the policy such as furniture, valuables, electronics, etc. You know what? Your home insurance policy is also going to cover losses arising due to theft or burglary.
3. Compensates and replaces your loss: Getting your home insured comes with the added benefit of receiving compensations for the losses and getting your valuables replenished. The compensation received from your policy can be used in repairs and reconstructions.
4. Defends you again lawsuits: Home insurance policies further have the provision for protecting you from any legal liability or third party liability. If a third party suffers an injury while on your property, the policy is going to guard you in such cases.
5. They are affordable: Home insurance policies are extremely affordable, which makes it all the more attractive. Some policies protect your home starting at Rs.125 per month for a structure value of 50 lakhs [1]. There is plenty of home insurance available to choose from, and buyers have the privilege to skim through them before making a choice.

Many times homeowners neglect a home insurance policy. However, it is imperative to understand that home insurance policies are a small investment against an enormous financial setback. As we come to an end, now you know what pairs the best with your flat in Noida Extension – a comprehensive home insurance policy. Remember, to get your home insured is to dodge a bullet.