Since it protects against financial loss, you should have a home insurance policy. Under circumstances beyond your control, you might be responsible for damage to property and belongings. A home insurance policy offers the following advantages:

• You can get monetary aid for repair and damage control due to unfortunate events
• If a third party causes damage, you can claim insurance without getting into a legal rift
• It is easier to get a mortgage (home loan) for repair/reconstruction/expansion if there is property insurance
• The costs of loss of home’s belongings and content can also be covered up. Home belongings like appliances, furnishings, furniture, gadgets, or jewelry
• Coverage is there not only for damages due to accidents or calamities but also due to theft, robbery, or burglary
• There are types of home insurance policies that are designed to cater to specific requirements. These policies include Landlord’s Insurance or Tenant insurance. The landlord can claim the landlord’s insurance when the tenant (public liability) does damage. Also, when there is a loss of tenant’s payment (rent) due to other reasons. Similarly, the tenant can get insurance for his/her own belongings in a rented flat