Home insurance is meant for anyone who has a home whether own or rented. There is myth that only home-owners should buy a home insurance plan. Let us tell you case of Mr Vijay Rao and how having a home insurance policy saved him during a crisis.

Two months after Mr Rao moved to a rented apartment in Mombasa, a catastrophic fire engulfed furniture and other appliances worth Rs 8 lakh. Thankfully, he had a home insurance policy and he could manage to settle back to normal life again easily and without any financial stress.

It’s a misconception that only house owners should buy a home insurance. Although, house may belong to a landlord but it has contents which belong to you. Irrespective of the fact that whether you are a tenant or owner, buying home insurance should be your top priority.

Even, there are various insurance companies which provide exciting discounts to people who have bought over 3 home insurance covers. However, don’t let discounts make you buying those covers also which you don’t need. For instance, if you are a landlord then avoid buying a policy to cover contents of the house. Leave that to the tenant. Companies also offer discounts if you buy it for a long duration. You can insure the house for up to 10 years, which not only gives peace of mind but you also get a chance to earn lucrative discounts.