ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Home insurance or property insurance secures your home, both – structure and contents – from damages due to unfortunate events like theft, burglary, and malicious activities, as well as natural calamities like-fire, floods, and earthquakes, providing financial aid to overcome losses incurred during such events.

Detailed explanation-2: -Homeowners insurance provides policyholders with coverage against loss and/or damage to their homes and possessions, also referred to as insured property.

Detailed explanation-3: -1. Home structure insurance covers the permanent structure of the house, including kitchen, bathroom fittings and roof, from any kinds of dangers and risks. 2. Contents insurance covers the contents inside the house, such as documents, electronics, and jewellery, from damages and loss owing to theft, fire, flood, etc.

Detailed explanation-4: -Home and property insurance covers losses to the structure and content of your home/ property due to natural and man-made calamities.

Detailed explanation-5: -Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.