Being a homeowner owes great responsibility as it is the highly earned financial asset for you. Because you have invested a lot in building these pillars, you need to secure them. Taking one more step to safeguard your home will be the wisest decision ever. Most of the people have this tendency of letting go and ignoring the fact of safety of their own house. For them, their house is there to protect them, but they don’t know it needs to be done vice versa. People don’t think in this way until and unless any misshapen occurs. Are you one of them? You haven’t insured your sweet home yet? If not, you are taking risk for life to you and your family. So, you think you are prepared for the financial consequences or a lawsuit? Burst all these questions by purchasing a householder umbrella policy. It will ensure your financial safety from uncertain disasters such as Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, And Inundation, Fire, Riots, Strike, Malicious damage and other risks. No doubt, umbrella homeowner insurance policy can save your expensive assets and income too. Householder umbrella policy you can payoff even a massive lawsuit or liability.

What is householder umbrella policy and how it works?

In the easy language, a householder umbrella policy is package policy introduced to meet the insurance requirements. There is number of covers combined under one policy mostly purchased by householders. The product is categorized in five sections with planned sum insured. As per the householder’s requirement and properties value they can select plan accordingly. Premium is divided in two categories.

Coverage under householder umbrella policy -

• Fire (excluding own fermentation, natural heating or spontaneous combustion, undergoing heating or drying process, burning of property by order of public authority).
• Lightning.
• Explosion / Implosion (excluding boilers, economizers, vessel in which steam is generated).
• Aircraft Damage (excluding loss caused by pressure waves).
• Riots, Strike, Malicious damage – physical damage by external violent means.
• Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, And Inundation.
• Impact Damage by rail/road vehicles not belonging to insured or their employee.
• Subsidence, Land/Rock Slide.
• Bursting, over flowing of water tanks, Apparatus and Pipes.
• Leakage of automatic Sprinkler (excluding repairs or alteration of building).
• Missile testing Operations.
• Bush Fire (excluding forest fire).
• Burglary
• Loss of cash due to assault to insured
• Personal accident cover

Different insurance companies have their own terms and conditions regarding policy coverage for insured.

Must check for key features and benefits before buying householder insurance –

·         There should be flexibility in selecting the types of covers for the insured as per his/her requirement.

·         There must be various options to choose the best for insured’s house full coverage i.e. each and every corner of the house.

·         Premium should be affordable and value for covers.

·         The process of buying householder umbrella insurance policy should be hassle-free and transparent.

There are exclusions of the policy that you need to keep in mind –

·         If there is any damage or loss due to war and related perils, insurance company is not payable for that.

·         Any consequential loss

·         If there is any loss occurs due to wear and tear, insurance company is not payable for that.

·         Any loss due to radioactivity or nuclear weapons.

Final words, Imagine your house is secured completely with an insurance policy, how immense pleasure it feels like. When your home will be secured, your life will be secured. And, you will have the feeling of complete peace of mind. So, when are you going to buy householder umbrella insurance policy?