How is home insurance different from home loan insurance?
There is often confusion when it comes to home insurance in India. Many buyers confuse these plans with home loan insurance. However, these are both very different forms of protection. On one hand, house insurance protects you from financial losses arising out of damages occurring to your home.
On the other hand, home loan insurance covers your family in case you are not able to repay the loan in case of disability or any other unfortunate event that might cause the loss of your income. Home loan insurance is usually purchased when taking a loan.