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Chat Transcript

18 Jun - 10:00 hrs

Arnav Pandya | Financial Planner

 

Should I insure my home?

Chat Transcript

moderator: Dear Moneycontrol user, welcome to the Master Your Money chat session with Mr. Pandya, who will answer your queries relating to insurance. So fire away your questions!
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guest: Sir, What are benefit of taking Home Insurance, and which is the best Insurance to take
Arnav Pandya : There are two aspects of home insurance. The first is that it protects the valuables within the house so this has protection against theft and other kinds of damage. The other point is that as far as the overall structure of the building is concerned there is also a policy that provides funds for reconstruction. The benefit here is that one can rebuild the home in case of destruction. The individual can take a policy that covers both the aspects so that they are properly protected.
rikenmehta_2: Sir I am 25, what types of insurance should I buy? I have medical insurance cover from my office
Arnav Pandya : There are different types of insurance covers that you have in order to ensure that your risk is restricted. If you have any dependents then you need a life insurance policy and it is always better to go in for a term policy at your age as you will get a large cover at a low cost. As far as health insurance is concerned even though you have a policy from your office you should get a separate one on your own as this will ensure constant cover for you even if you leave the job. If you have any assets like a car or a two wheeler or a house then there has to be an insurance cover for these assets also.
moderator: This chat has now ended. Thank you Mr. Pandya for sharing your views, and thank you viewers for your participation.
moderator: The transcript of today`s chat will be available on moneycontrol.com soon. If you have any suggestions on this chat you can send e-mail to feedback@moneycontrol.com
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