The Importance of Home Insurance

Home is where the heart is, and owning your home is a wonderful feeling! All the planning, budgeting, and research that goes into choosing your safe haven from numerous residential projects in major cities like that of Lucknow, make getting a home a herculean task. This is why we, at Oro Elements in Lucknow, thought of re-emphasizing on how important it is to ensure that your new home is well protected. By protected we mean not just from robberies, thefts, and other criminal activities but from possible natural calamities as well!

It might come as a surprise but home insurance policies are not a very popular option in India. In fact, research by the Asian Insurance Review tells us that only 3% of the homes in India are insured.

On the other hand, western countries like the US, UK, France, etc. have about 90% to a whopping 97% of homes insured. So why is there such a huge difference? Are Indians not buying home insurance because we don’t need it? Well, the answer to that is a very definite no. The primary reasons are mostly the lack of awareness, partial or false information regarding high prices and highlighting of insurance related crimes and frauds which defame and overshadow the main good points of the same.

Home insurance plans are very important for any homeowner, especially in metro cities like Delhi, Bangalore, Lucknow and, in fact, in any city across the country for that matter, and here are the reasons to the question "why":

Protection against Natural Calamities:

The primary reason for opting for home insurance for any housing project in Lucknow is for the protection against any risk. In case of a natural calamity like flood, earthquake, cyclone, etc., the first place that might get affected and also the first place to seek refuge becomes one's home. In case of damage due to any such natural disaster, the insurance amount becomes the first chunk of financial support. Government aids might also be provided in case of large scale losses but such processes are often time taking and uncertain. Spending savings during such scenarios are often given duble thoughts. And here is where insurance plays a key role. A home insurance plan would provide you with benefits and compensation in any such unfortunate scenario for the losses and damages that you have faced in the shortest possible duration of time and will help you recover much quicker.

Extended protection for the valuables in your home:

A home insurance plan is important because it can provide protection even to your valuables and assets inside your home. Imagine you bought your new 2BHK or 3 BHK apartment in Lucknow. You decorated it with the best of paintings, artifacts, chic and expensive furniture, etc. and you basically spared no expense. Now tomorrow you lose some of these expensive items either due to a natural disaster or theft or robbery or any similar sudden incident. Without home insurance, all you can do is sit and whine about it, register a police complaint, but ultimately never get your possessions back or recover any equivalent amount. Whereas, if you do purchase a home contents' insurance then you will be able to claim for the loss/damage that you have faced. You will stand the chance of getting monetary compensation for the loss of your valuable items. So whether it's an independent home or your new 2 BHK or 3 BHK apartment in Lucknow you will be protected against the minutest loss.

It is not as expensive as you think:

Oro City & ORO Elements in Lucknow is committed to providing the best value for money for you. But it is common knowledge that buying a house in itself is a heavy financial decision. And that’s why Indians don’t prefer adding more to their expenses through something like home insurance. Buying a house worth Rs.80 lakh and even trying to get insurance worth half that for any approved project in Lucknow seems like an expensive option! But it actually isn’t. For an insured amount of about Rs.40 lakh, you can easily get a home insurance policy that just might cost you just Rs.2000 per year. Even if you add a few more contents like furniture or other valuable items in your house, you can still easily pull it off at Rs.5000 per year. So, getting your entire house structure and its contents insured for a sum like Rs.40 lakh by just paying approximately Rs.5000 per year actually sounds like a pretty good deal, isn't it?

The benefits of a home insurance plan for any kind of residential project in Lucknow definitely outweigh the costs. It renders protection against sudden risks, it is a protection for your valuable possessions, it is a protection at a very affordable cost, and above all, it gives a peace of mind to any homeowner.

At Oro City in Lucknow, it is ensured from the very beginning of home buying and possession that you embark on a safe and secure journey in your new home. With varied options, personalised insurance plans, tie ups with a number of banks and insurance companies, one doesn't need to go hither nor thither to seek the perfect home insurance plan for them. Just pick your plan, enjoy your home and let us take care of the rest for you.