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Overview
Home insurance is a type of insurance that homeowners or tenants obtain to protect their homes against potential risks. This insurance covers the dwelling itself, personal belongings inside the home, and in some cases, the liability of the homeowner or tenant.
Home insurance typically comprises two primary components.
- Building Insurance: Protects the structure where the homeowner or tenant resides. This includes damage to the walls, roof, flooring, and other structural components. Natural disasters, fires, theft, and similar incidents can cause damage to the building, which building insurance covers.
- Contents Insurance: Covers the personal belongings inside the home. This includes furniture, electronic appliances, clothing, and other personal items. Contents insurance reimburses for damages or losses due to theft, fire, flooding, and other covered incidents.
Features
- Home insurance often includes various additional coverages. These may encompass options such as glass breakage, temporary accommodation expenses following theft, and homeowner's liability insurance that covers the homeowner's responsibilities.
- Home insurance provides financial protection to homeowners or tenants against unforeseen events and secures their homes. Therefore, a home insurance policy serves as a crucial investment and protection tool for homeowners.
- Our Home Insurance product is structured in accordance with Participation Insurance
