Insuright Insurance Broking Pvt Ltd.

Imagine This....  You finally buy your dream apartment in Mumbai. After years of saving and taking a hefty home loan, you’re ready to start a new chapter. The griha-pravesh pooja is done, walls painted, furniture placed. But a few months later, you receive a legal notice : “The land on which this building stands actually belongs to our family. Your sale is invalid.” Suddenly, your dream home becomes a courtroom battle. Scary? Absolutely. And yes, such cases have happened in India. This is why Title Insurance exists — to protect your dream home from hidden ownership risks . 🔑 What is Title Insurance? Title Insurance is a specialized insurance policy that protects property owners and lenders against losses from defects in property ownership (title) . In simple words: 👉 It ensures that the home you buy is legally yours and cannot be taken away because of hidden disputes from the past . Under the RERA Act, 2016 , Title Insurance is mandatory for developers of ...

When a fire strikes, will your insurance help you buy a brand-new replacement or only pay for the old, depreciated value ? The answer depends on whether you choose Market Value (MV) or Reinstatement Value (RIV) in your Fire Insurance Policy . This decision can make or break your financial recovery . Let’s decode it with practical cases. 🔥 Fire Insurance – Two Common Basis of Valuation 🔹 Market Value Basis The value of the property at the time of loss, considering depreciation, wear & tear, and usage . 👉 Market Value = Replacement Cost (New) – Depreciation 🔹 Reinstatement Value Basis T he cost of replacing or reinstating the property with a new one of the same kind and capacity , without deduction for depreciation. 👉 Reinstatement Value = Replacement Cost (New, same type/quality) ✅ Best Practices for Policyholders Match your basis of insurance with the correct sum insured : Use MV if you’re fine with depreciated payout. Use RIV if you wa...