Home Insurance And Its Significance For The Middle Class

Prior to independence, the Indian society was broadly classified into the upper class and the lower class. The upper class was wealthy, affluent, rich and powerful. They owned vast swathes of land and a clutter of these rich people also had some control of governance of certain regions. On the other hand, the lower class people were those who bore the brunt of almost everything negative in the society. They were poor, had a little or a very less income, and mostly earned their living by the means of wages.

However, after about fifteen to twenty years of independence, this lower class, by working harder and harder economically became stronger. Some of its men went abroad even to do some petty jobs, but earned well and sent their earnings back to home. As awareness levels increased, a new class called the middle class began to rise. As obvious from the name, this class was a notch above the lower class but slowly started matching the upper class in terms of economic and social well being. After years of hard work, the middle class people started to build homes.

Any thing accomplished after years of hard work is definitely a one-time investment in life. Hence, these people could not afford to lose their homes to any power be it natural or created by humans. Thus the importance of home insurance for such people is paramount as it offers a kind of money back scheme for the people whose homes have been severed or destroyed. Basically, any insurance assures an individual of financial help in case of mishap, destruction or any other unfortunate event. Thus home insurance is a sure shot way of ensuring that even if the once in a lifetime investment of a person called home is rendered damaged, the insurance company will surely be ready to reimburse the cost.

Thus, one can say that home insurance is a way in which individuals can feel safe and relaxed about their savings for life, which is generally invested in order to buy a house. Home insurance certainly serves as a boon for all these people who generally hail from the middle class and do not belong to the wealthy upper class. Both in India and abroad, there are various companies and firms that provide home insurance along with other kinds of insurance and thus help in securing the money of a number of individuals.