Home insurance provides against financial loss against damage of the structure and/or contents of your home caused by natural and man-made disasters. A home is your most important asset, and it is natural to safe guard it against any calamity.
If you want to go for home insurance coverage, it is possible to choose the cover amount based on personal spending capacities and requirements. Select contents that you want to get under the insurance umbrella. Coverage amount may depend upon the reinstatement value or the current value of the product in market.
While there is a comprehensive coverage for homeowners through home insurance policies, there are certain exclusions present too. For example, this cover does not include radioactive contamination, or damage due to nuclear explosive equipment, war, military activity.
Financial Planning is a process of setting goals (For example buying a house/car, planning a vacation, child's education/marriage, retirement corpus etc), assessing income, assets, investments, expenditure and liabilities, estimating future financial needs, and making plans to achieve them.