We all know household insurance provides us with financial risk-protection against all kinds of possible damage which may happen with us in any circumstances. It is nothing but a contract between the policy holder (i.e. common people) & insurance company where policy holder pays certain amount of money as premium and in return the insurance company gives assurance & guarantee for payment of any kind of financial losses that happens to the policy holder’s property in the contract period.
Generally, household insurance or home insurance is provided in two kinds, 1) insurance for exterior & 2) insurance for interior. The 1st one covers the protection of the structure of our premises against all kind of natural disasters & possible accidents like flood, earthquake, cyclone etc. On the other hand insurance for interiors covers any kind of risk factors like fire, theft, burglary & natural events like rain, flood or any accidental damages etc.
If any person wants to file mortgage, it is mandatory for him to get an exterior insurance because without exterior or building insurance mortgage is unacceptable. On the other hand interior insurance is up to the owner’s choice, people have to look for that insurance policy or companies only which offer him better coverage & protection than the other service provider or policy.
So, at the end it can be said that there is no substitute for having a suitable & proper Insurance as it will help us to do our day-to-day work with peace of mind & without worries.
