Home insurance - a concept so far limited only to basic fire insurance cover taken along with home loans - is expanding its scope. Insurance companies are stressing on marketing other types of insurance policies related to homes by bundling them together and offering discounts for taking multiple covers.
The rates of taking the covers have also fallen sharply (by over 50 per cent) since the de-tariffing of premium rates in 2007, making the segment more affordable.
Text: Business Line
Also see: Home insurance: Cover for your home