PROPERTY INSURANCE AND ITS NEEDS.
ABOUT PROPERTY INSURANCE AND ITS NEED:
You are acquiring property from your hard earned money or through loans etc., and the responsibility to maintain and preserve it in a good way till lifetime or till completion of loan. Property insurance provides protection against most risks to property such as fire, theft and some natural disasters, weather damages. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance; vehicle insurance etc., Property is insured in two main ways – open perils and named perils. Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage-causing events as fire, lightning, explosion and theft..
Home Insurance:
A home is one of the most crucial investments in a person’s life and the single largest asset they may possess. Home Insurance or a home owner’s insurance policy provides you coverage and compensation in case of any damage caused to your home and the possessions inside it. Home insurance provides against financial loss against damage of the structure and/or contents of your home. The damage may be due to natural calamities or accidents, so a home insurance is like an additional protective cover for your home. A home insurance does more than just providing coverage to your home in case of any natural or human caused calamity, as it is also an absolute necessity in most cases while signing a mortgage.
CAR/AUTOMOBILE INSURANCE:
Car insurance is a type of policy that protects you from financial loss in the event of an incident that causes injury or property damage. There are several automobile insurance coverage types that you can choose when you establish a policy. The various types of insurance is such as Liability Insurance, Collision Insurance, Comprehensive Insurance etc., Understanding the basics of the different types of coverage will help you determine what type of policy will best fit your needs.
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