Increasing instances of burglary and theft at residences and also cases of houses catching fire, earth-quake increased the requirment of home and office insurance. Home and Office Insurance, as the name suggests, covers homes and offices belonging to individuals. It has a little bit of personal insurance coverage too and covers almost all of those things pertaining to one's home like the contents of the home, the structure and sometimes even pets. There are also options like covering your house when you are out of station and other such covers as one finds appropriate. The premium would be a factor of the amount it actually takes to reconstruct the house, in case of structure and the cost of replacement of the contents of the house and other miscellaneous items like pet insurance and such-like.
Now-a-days, risks associated with fire, riots, implosion and explosion, spilling of water due to bursting of over-head canisters or tanks, earth quakes, lightening, floods etc are all listed as risks that can be covered for. However, damages inflicted on the individuals homes by self, malicious acts and such like are usually excluded from the cover. The contents are also insured for all the above risks involved including burglary and theft.
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