You can purchase a Home Insurance policy as long as you own a house or apartment as a residential property and not as a commercial property. If you rent a property, you can also purchase a policy as long as the property is not rented out on a temporary basis. Suppose you are a tenant and you want to protect your belongings. In that case, you can do so by purchasing a Home and Contents insurance policy. You can also purchase a separate policy for the contents of your home.

Premium on Home Insurance policy is the amount you pay to the insurance company to insure your home. A homeowner's premium is based on many factors, including the type of coverage you choose, the condition of your home, the number of claims you have filed in the past, or your claim history. The claim history is the most important factor for determining the premium on your home insurance policy.

The documents to be submitted in case a burglary takes place for claiming home insurance are as follows: In case of burglary, your insurance company will ask for a copy of the FIR or a copy of the police station. You can also choose to submit a copy of the newspaper which has the FIR's details if you have a copy. In case of a fire claim, a copy of the FIR is necessary.

The home insurance policy will automatically terminate at the time of sale (if there is no specific clause) unless the policy is extended for a specific time period.

By non-renewing a policy, you are canceling the policy. When you've bought a new house, this is the right choice and want to transfer your policy to the new house. In this case, you will have to ask the Insurance Company if the new house is in the same neighborhood. This is a matter of fact, not a strategy. If you cancel a policy, you have to inform your insurance company. They will refund the money, but you will have to pay a penalty.

After you file an insurance claim, the first thing that happens is that an adjuster is dispatched to evaluate and estimate the damage done to the home and its contents. The adjuster is usually a person who has experience in handling claims and can estimate the cost of repairing. The adjuster may take pictures of the home and the damaged items and record the description and cost of each item. The adjuster will issue a check to the homeowner after the claim is processed and the carrier determines the amount to be paid. The amount of cash reimbursement is based on carrier's policy and can take weeks or months.

The insurance company, in some cases, reserve the right to cancel the insurance in the middle of the policy, in which case you can be in a serious loss of money. Also, the insurance company, in some cases, after collecting the money at the beginning of the policy, can cancel your policy in the middle of the term, in which case you can lose your money. If you are in the middle of your term with one company and want to change the insurance company, you cannot be dropped. Otherwise, if you do not stay with one company for at least 6 months, they can cancel you.