If you own a residential or commercial property, property insurance is a must for you. It safeguards property owners like you from incurring huge financial losses in case of an unforeseen mishap. For example, incidents like fire, theft, burglary, and natural calamities can cause severe damage to a property and result in gigantic losses for the property owner.
Property insurance provides financial reimbursement to the property owner in such instances, where his/her property and its contents get damaged. Depending upon the type or property and perils it cover, property insurance policies can be classified into various categories. Here are some common types of property insurance available in India:
Now that you know about the different types of property insurance available in India, you’re better placed to choose the right coverage for yourself. Also, it’s prudent to compare various offerings from different insurers and choose a policy that’s providing best coverage at an affordable price-tag. You can also buy property insurance online to get additional discounts on premium.