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How can Home Insurance Add-on Covers benefit you?

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Your home is your most valuable asset, and it needs enhanced protection. This is where homeowners' insurance add-ons come in to picture. The benefit of purchasing add-ons is that it can extend the coverage of your base home insurance plan. The extended coverage can provide enhanced protection to your house in unfortunate incidents like fire, burglary, natural calamities and many other perils. Here are a few points on how you can improve the cover with some useful add-ons. Let us look at few popular add-on covers-

What is home insurance, and what are add-on covers?

A home insurance policy and its add-on cover provide overall protection to the structure of the house. The valuable contents present in the house is also protected. Comprehensive home insurance coverage, with an add-on, is needed to ensure your home is secure. 

How are add on covers useful, and which ones should I opt for?

Add on covers are designed to help you in areas that your home insurance plan may not cover. Any home insurance add-on you choose should apply to your needs and circumstances. 

Portable Electronic Equipment Cover:

If you own expensive gadgets or appliances, then the add-on cover is a must. With this add on cover, you can secure your electronic gadgets even when you are on the move. Portable electronic items such as laptop, camera, musical equipment's, sports equipment etc., are usually covered under add on cover. 

Jewellery & Valuables cover:

If you own precious jewellery or valuables and keep them at home, you are at risk! If the confines of your home are not safe enough, and theft or burglary could incur significant losses. Jewellery and valuables add-on cover is the answer to it. 

Terrorism Cover:

Many homes have been shattered due to terrorist attacks, and the pain one endures huge. This add-on cover can mitigate such damages and provide coverage. In case your home structure or contents get destroyed due to a terrorist act or attack, you are covered. 

Loss of Rent Cover:

This add-on cover is useful for the homeowners who have rented out their property to the tenants. This cover the homeowners for the loss of monthly rent if the house is unfit for living and the tenants have to vacate the place. The insured gets the amount till the house is deemed safe and good enough to start living in again.

• Temporary Resettlement cover: 

If you live in your own house, then this add-on cover is a must to have. Unfortunate events such as heavy floods or fire can cause damage to your house, making it inhabitable. In such scenarios, you need to shift to temporary accommodation. This add-on cover with your home insurance policy can offset your expenses related to transportation, packing and moving to alternative accommodation.

• Key and Lock Replacement cover: 

This cover is useful for both renters as well as homeowners. This add-on cover provides the following coverages:

• Loss or theft of the keys of your home

• Loss or theft of your vehicle keys

• Reimbursement of the cost of a locksmith for making new keys (home and vehicle)

• Dog Insurance cover:

Your pet is also a vital member of your family. You can opt to buy this add-on cover which can insure your dog. If your dog dies due to an accident or any diseases contracted during the policy period, it is covered.

• Public Liability cover: 

If someone gets injured in your place of residence or their property gets damaged, then the add-on cover might reimburse for the same.