Here's Why You Need to Buy Home Insurance This Ganesh Chaturthi

Posted on: Aug 25, 2022 | | Written by:

Here's Why You Need to Buy Home Insurance This Ganesh Chaturthi

Ganesh Chaturthi is a 10-day celebration commemorating the birth of the Hindu deity Ganesh. It entails placing small—and occasionally massive—idols of the Ganeshji in people's homes and communal locations. Installation, upkeep, ritual performance, and transportation of these artistically adorned idols need large-scale preparation of logistics, especially for the enormous ones.

Lord Ganesha, also known as Bappa, is connected with fresh beginnings and is seen as a remover of barriers. This Ganesh Chaturthi, acquire Bappa's blessings in the form of property insurance for your family by selecting the proper home insurance plan.Regarding life's milestones, owning a house is right up there. While the excitement of purchasing a home is unrivalled, home insurance in India is one of the most crucial but often disregarded forms. You are safeguarded against a variety of dangers by homeowner's insurance.

So, in this article, we shall talk about why you should gift yourself a good home insurance plan on this Ganesh Chathurthi.

Reasons to Buy a Home Insurance this Ganesh Chaturthi

1. It ensures much more than simply your house:

A house insurance coverage covers a wide range of hazards, from physical damage to natural catastrophe damage to losses caused by burglary or theft. As a result, not only is your property insured against loss, but so are your possessions.

And this Ganesh Chathurthi, let the blessings of Bappa enlighten your house and safeguard you against all such calamities. But, opting for a property insurance plan could be a great idea to be on the safer side.

2. The ideal gift for a festival:

The festival season is here, so it's time to start making your to-buy and to-gift lists. Aside from the festival's traditional things like gold, clothing, and accessories, a home insurance policy can be added to the list to make it more worthwhile. It is an ideal present since it protects your most precious property, your house. The most significant advantage of having house insurance is the piece of mind that comes with knowing your home and family are protected.

3. Additional benefits:

Home insurance compensates you for damages made from damage to your home. You may take advantage of the extra advantages given by the replacement cost policy, depending on the kind of house insurance you purchase.

Some home insurance plans offer additional benefits which could be beneficial to you, such as:

a. Cost for alternative accommodation such as hotel stay in case of damage to your house or packing and transporting your luggage

b. Breakdown due to electrical or mechanical reasons such as a short circuit.

c. Coverage for valuables in the house, such as jewellery.

d. Public liability coverage in case a third person gets injured due to damage to your house.

These are essential add-ons which could add an overall value to your house insurance plan.

4. Easy on the wallet:

Regarding insurance, one of the essential elements to consider is the premium. In the case of house insurance, the premium is directly proportionate to the property's value.

For example, a new 1200 sq ft property of less than 5 years with a valuation of INR 50 lakhs and another INR 10 lakhs for content would cost less than INR 7000 per annum for coverage against fire, flood and all other natural calamities, man-made incidents such as theft and burglary, accidental coverage as well as electrical and mechanical breakdowns. Thus, home insurance, which is sometimes disregarded and seen as an unnecessary investment, gives enormous advantages for a small amount of premium to pay for complete peace of mind.

Lord Ganesha's Financial Planning Lessons are as Follows:

Lord Ganesha's colossal head indicates knowledge and insight in financial planning. It implies that the work of financial planning should approach with caution. You must establish your three critical financial goals: short-term, mid-term, and long-term. After determining your financial objectives, you must invest in appropriate financial instruments to maximize profits. You must also support your risk tolerance.

1. Financial discipline:

Lord Ganesha's tiny and keen eyes represent attention and discipline, which are essential to financial planning. You must not divert from your objectives after developing a detailed financial strategy. Home insurance is surely a prudent financial decision in this aspect.

2. Be a good listener:

Lord Ganesha's enormous ears represent the significance of listening, another critical aspect of financial planning. After listening to and paying attention to financial advice from friends, family, or financial professionals, you must make a sensible choice. So, you need to do your research and learn more about the home insurance plan before opting for the same.

3. Patience under challenging conditions:

Lord Ganesha's enormous trunk represents the patience required in difficult situations. You may encounter events that are detrimental to your investments. Instead of succumbing to despair in such cases, you must learn to adapt. Even if any unforeseen event might harm your assets, you must have a calm mentality but prepare for the worst by opting for a good Home Insurance Plan.

4. Mental strength:

Lord Ganesha's tusks represent the mental strength and power you must have for proper financial planning. You may be motivated to have the mental capacity and bravery needed to make sound financial choices such as a property insurance plan.

How Do You Choose the Best Home Insurance for yourself?

Avoiding and preparing is superior to regretting and restoring. This statement sums up the issue with the cost of property insurance well. Here are a few things to consider while choosing a Tata Cap house insurance plan.

1. Determine your requirements:

When shopping for property insurance, you must determine your needs and the coverage you need.

2. Investigate the market's choices:

After determining your needs, you should consider the market's house insurance possibilities. Due diligence is integral to the research process since it helps you identify your most excellent solution.

3. Look for add-on riders to increase your coverage:

You can add a few riders to your property insurance policy to increase the coverage for an additional fee. You may opt to insure your personal belongings in your house, such as jewellery, furniture, electrical equipment, and so on.

Conclusion

The English adage "penny smart and pound stupid" refers to actions we make to save little sums of money today but may occasionally result in significant monetary losses later. You may save thousands of pounds in home repair expenditures by spending pennies on the insurance premium. So, this Ganesh Chaturthi, accept Bappa's blessings and prepare your house for fresh beginnings. Your property insurance, like Bappa, functions as a remover of hurdles and takes care of the financial difficulties resulting from property damage caused by unanticipated accidents.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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