Home Insurance (1)
Home insurance policy, as you might be aware, needs to be renewed each year. Therefore it’s your responsibly to adjust the amount of cover taking into consideration the inflation, the improvements/changes you make in your house. Also, most insurance companies have a maximum limit to the per sq feet price they are willing to cover so you can’t increase the sum insured beyond a limit which varies from insurer to insurer.
However, insurance companies do offer a cover against inflationary factors as an Additional risk cover, which might come at a proportionate hike in the premium. Therefore you must go through the insurance document carefully.