Insure your home loans
- 2. Insurance is a method of mitigating risk. And the same logic applies to housing insurance as well. There are two aspects of housing insurance. First insurance is for housing loans and second insurance is for the house property per se.
- 3. The premium can be for pure risk cover or they may cover both risk and investment objectives. Many variants of the insurance schemes are available in the market depending on the requirements. The insurance cover can be for a pure insurance purpose or for insurance and investment. The premium payable and the returns vary accordingly.
- 4. The second aspect related to housing insurance pertains to insurance for the house property per se. This applies to constructed property. The insurance company covers risks of damage to property by earthquake, flood, lightening or other specified risks. In case of such damages, the insurance company makes good the loss suffered by the insured.
- 5. Thank you