- When you take out a property insurance policy, be advised that you can only insure a property or home that is owned by you. In the event that you have to file a claim, the insurance company will ask you for complete details of ownership, mortgage details if any, the status of repayment of loans and so on.
- When you fix the base sum insured in discussing with your insurance agent, understand how the total premiums are calculated.
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The do’s and don’ts of property insurance
Property insurance or home insurance is an insurance policy that offers you some degree of loss protection from damages caused to your home on account of various factors like fire, burglary, earthquakes and so on.
In taking out any kind of insurance policy, it is always important to take the time and make the effort to read the entire policy document so that you are fully informed of what kind of protection you are paying your annual premiums for.
Here are some important checkpoints when you decide to insure your property.
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