Because, natural calamities and accidental damages do not come with a prior notice, they are uninvited and uncertain. In addition, a single incident is enough to drain your savings that is why you need a home insurance plan to cover the repair costs and pay you in case your valuables are stolen. While home insurance is not mandatory in India, depending upon the risk factors you may think of getting a home insurance plan.
In India, many regions are prone to natural calamities like flood, earthquake and cyclones hence it is important to get a home insurance in India. Also, even if you are sure that your home is not prone to natural calamities, do not forget that fire incidents and theft/burglary may happen at any place at any time. House insurance or property insurance plays a vital role in covering your most valuable asset, because mere buying the dream home is not enough protecting it matters a lot.