Home Insurance: Is It Profitable?

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ITI190 – Home Insurance: Is It Profitable?

Indeed, many people know about insurance. Not even a few also learn in detail about the ins and outs of insurance. But for some reason, public interest in insurance is still relatively low. In fact, this is a contradiction between what is real and what most people want. Look at how people, in general, refuse to become insurance holders for their assets even though they really want to be sure that their investment will not be hit by something bad. Take home insurance, for example. When people were asked if they wanted to be members of home insurance ownership, few of them answered yes.

However, everyone would want their home to be okay. They must know that home is their refuge. They also know that their home is the best place to relax, hang out with loved ones, and have some relaxing entertainment. However, when they were faced with the offer of insurance, they shook their heads even though not a few of these people know how insurance can provide protection for their homes.

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Well, let’s just say that most people know nothing about home insurance. How can insurance like this work and provide protection for their home? What will be their obligations and rights? What exactly is home insurance? Let’s discuss it together here. The hope, we can get useful information that insurance is not something that harms us. However, we will get a lot of positive things from it.

Home insurance is insurance provided by an insurance company to cover your assets, which in this case is your home. We all cannot know for sure what the future holds for your home. Without any tendency to frighten you, actually, a lot of bad things can happen to your home. For example, fires and various types of natural disasters hit your home. These bad things can easily make you lose the house you live in with your family. Your house being destroyed by these two things is, of course, your loss.

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However, if you have purchased home insurance, you don’t have to worry anymore. Basically, insurance companies, including home insurance, will help you to reduce your financial burden or can even be a substitute for you to take care of your financial burden completely. In this case, when your house has problems such as damaged by fire, the insurance company will compensate you with a sum of money that was previously agreed upon when you signed up to become an insurance owner. An example is when you have bought a house with a price reaching 6916.92 US dollars. Then you buy an insurance policy, and you are required to pay a premium of 69.17 US dollars per year for a period of several years determined by the insurance company. When suddenly your house has problems as mentioned above, you can receive compensation whose amount can vary, such as the price of your whole home or 80% of it or other amounts according to a mutually agreed decision.

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Not that this can be very lightening for you as a homeowner if something bad happens to your home. What if bad things don’t happen to your house? Generally, the premium you have paid will come back to you. But there are also some insurance companies that do not refund the entirety or do not return a penny. Therefore, you must be selective and careful in choosing the right home insurance for you. Make sure you get insurance from a trusted company so that the premiums you pay regularly will not be lost and harm you.

Home Insurance: Is It Profitable? by ITI190 – Insurance Top Info 190