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Question: What should be the premium if i opt for a home insurance for my home worth Rs. 50 Lakhs? Is it too expensive?

Answer: Home insurance is not costly as wrongly perceived by a lot of people. You can easily get a home insurance for a sum insured of Rs. 50 Lakhs with an annual premium around Rs. 10,000 which is not even 0.25% of the total worth of your house. Home insurance however repays you the cost of construction and not the cost of land unless otherwise specified.

Home insurance is not costly as wrongly perceived by a lot of people. You can easily get a home insurance for a sum insured of Rs. 50 Lakhs with an annual premium around Rs. 10,000 which is not even 0.25% of the total worth of your house. Home insurance however repays you the cost of construction and not the cost of land unless otherwise specified. Source: CoolInterview.com

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