Amazines Free Article Archive
www.amazines.com - Tuesday, December 10, 2019
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133321)
 Advice (160962)
 Affiliate Programs (34735)
 Art and Culture (73690)
 Automotive (145679)
 Blogs (75057)
 Boating (9840)
 Books (17218)
 Buddhism (4125)
 Business (1328593)
 Business News (426311)
 Business Opportunities (366264)
 Camping (10962)
 Career (72734)
 Christianity (15844)
 Collecting (11637)
 Communication (115054)
 Computers (241956)
 Construction (38997)
 Consumer (49681)
 Cooking (17061)
 Copywriting (6567)
 Crafts (18204)
 Cuisine (7538)
 Current Affairs (20388)
 Dating (45780)
 EBooks (19687)
 E-Commerce (48204)
 Education (185249)
 Electronics (83499)
 Email (6392)
 Entertainment (159832)
 Environment (28937)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110900)
 Fashion & Cosmetics (196390)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310274)
 Fitness (106138)
 Food & Beverages (62868)
 Free Web Resources (7938)
 Gambling (30225)
 Gardening (25108)
 Government (10513)
 Health (629553)
 Hinduism (2205)
 Hobbies (44043)
 Home Business (91557)
 Home Improvement (251361)
 Home Repair (46137)
 Humor (4823)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29553)
 International Property (3485)
 Internet (190990)
 Internet Marketing (146337)
 Investment (22825)
 Islam (1167)
 Judaism (1356)
 Law (80489)
 Link Popularity (4591)
 Manufacturing (20842)
 Marketing (98779)
 MLM (14136)
 Motivation (18213)
 Music (27005)
 New to the Internet (9479)
 Non-Profit Organizations (4048)
 Online Shopping (129617)
 Organizing (7803)
 Party Ideas (11856)
 Pets (38079)
 Poetry (2234)
 Press Release (12674)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126625)
 Recreation & Leisure (95279)
 Relationships (87563)
 Research (16158)
 Sales (80322)
 Science & Technology (110221)
 Search Engines (23454)
 Self Improvement (153102)
 Seniors (6232)
 Sexuality (35942)
 Small Business (49286)
 Software (82995)
 Spiritual (23465)
 Sports (116081)
 Tax (7658)
 Telecommuting (34066)
 Travel & Tourism (307419)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11727)
 Website Design (56829)
 Website Promotion (36569)
 World News (1000+)
 Writing (35770)
Author Spotlight
ALFRED MEARS

Former English Teacher; Musician (20+ years); Freelance Writer ...more
BELINDA SUMMERS

Belinda Summers works as a professional consultant. She helps businesses increase their revenue by l...more
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
CACEY TAYLOR

Im just a man who likes to be happy and see others happy. Im into home business, sports, family, and...more
SHOVON JOARDER

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more


5 Myths about Home Insurance Demystified by Ramalingam K






Article Author Biography
5 Myths about Home Insurance Demystified by
Article Posted: 08/05/2017
Article Views: 392
Articles Written: 101
Word Count: 830
Article Votes: 0
AddThis Social Bookmark Button

5 Myths about Home Insurance Demystified


 
Business,Finance & Investment
Have you ever wondered which is worse?

A devastating earthquake or picking up the pieces of life after surviving such an earthquake?

Perhaps the second one requires more resilience and determination. It also requires the hand of providence and of-course good planning habits.

It would be a shattering to see one’s home crumbling in front of their eyes and would be all the more depressing if the house is not insured.

There are certain myths with regards to home insurance and through this article, we attempt to de-construct such myths:

Myth # 1: Home Insurance does not cover hand-of-God incidents:

It is a general feeling that home insurance does not cover natural disasters. However, mishaps like fire, earthquake, flood and other perils are amply covered in the first section of most home insurance policies. In most of the plans this is a mandatory coverage.

In order to understand what is covered under the policy, it is important to read the policy documents carefully. Only after considering the terms of the policy in detail should one commit to purchase the policy.

It is a fact that some insurance companies may cover a particular form of natural disaster while others might not do it. It is always a good practice to compare different policies before buying one.

Myth # 2: Settlement of claims is a cumbersome process:

Many people shy away from buying a home policy simply because they feel that the claim lodging and settlement process is innately cumbersome. Actually it is not that intimidating and just need to follow a particular procedure.

When the property of the insured is damaged due to some calamity, intimation has to be given to the particular insuring company as early as possible, either to the local office or the main office as per the stipulations in the policy.

The insurer on its part will send an agent to survey the extent of damage to the policyholder’s property. Once the agent files the report, decision is taken regarding the value of the claim that is permissible as per the policy.

The insurer might ask for certain documents from the insured before they finally go about the process of settling the claim.

With the gradual and progressive improvement in technology a lot off ease has come about in the process of storage of policy documents. Now policy documents can be stored in Dematerialized or electronic format also. This helps in case where the original policy has been misplaced or lost and in such situations the only question that the insurer asks is the date when the policy was taken.

Myth # 3: Low Insurance Premium means Low Insurance Coverage

Insurance coverage for homes and premium amount payable are not always directly proportional. If the home to be insured is already equipped with such safety devices as fire alarm, and burglar alarms, it is likely that the insurer will offer discounts on the premium.

Judicious decisions while buying a policy will help in keeping the premium cost low. For example in areas, which are clam and peaceful a cover for riot and terrorism might not be required at all.

As these natural calamities are not very frequent, the risk for the insurer is low. So the premium will be obviously low.

Myth # 4: It is necessary to own the home for having it insured

It is often that people are under the impression that in order to insure their place of residence, they need to own it. This is not true.

The house owner can insure the basic structure of the house that he is renting out.

A tenant can always insure the belongings in the house they are residing in. If they happen to change homes, the insurer can approve the change of address.

Myth # 5: Burglary is not covered

Home insurance policies cover not only damage caused by natural disasters but also damage or loss caused by robbers burgling the house or even attempting to burgle it.

Individual items of value like pieces of jewelry, documents, gadgets and fittings can all be insured. However, discretion may be used to insure only the valuables, else the premium will be substantially high.

Conclusion:

While buying an insurance policy it is imperative that the policy document is studied thoroughly.Clarifications may be sought in case it is felt that there is any ambiguity in the policy clause. With online policy buying becoming simple, it is an easy to compare the various policies online before taking a final call.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Director and Chief Financial Planner of Holistic Investment Planners Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in

Related Articles - Home insurance, myth,







Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
JOANNA MORGAN

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2019, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license