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Home insurance: Cover should suffice to rebuild structure, replace contents

A home insurance policy covers damage from earthquakes, fires, explosions, floods, landslides, cyclones, storms, aircraft damage, and acts of terrorism

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Home insurance. Photo: Shutterstock

Sanjay Kumar SinghKarthik Jerome

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Recent earthquakes in the Delhi-National Capital Region (February 17) and in West Bengal (February 25) underscore the importance of buying home insurance. A home is often an individual’s most significant asset.
 
“Unforeseen events like earthquakes, fires, and floods can cause devastating damage, possibly wiping out your financial security,” says Dilip Baba, head-commercial & speciality underwriting, Go Digit General Insurance.
 
Without insurance, homeowners have to bear the full financial burden of repairs and reconstruction.
 
What this policy covers
 
A home insurance policy covers damage from earthquakes, fires, explosions, floods, landslides, cyclones, storms, aircraft damage, and acts of terrorism. It protects both