New Delhi, Oct. 29 -- Diwali is a festival of lights, but diyas, firecrackers and flowing garments can also increase the risk of fire accidents. While most households prioritize health and life insurance, home insurance often gets overlooked. Yet a fire can damage not just the structure of a house but also furniture, electronics, appliances, clothing and valuables, leaving families with a substantial financial burden.

Home insurance can protect against such losses. It can cover damage caused by fire and smoke, lightning, storms, hail and other specified events. Add-on covers can provide protection against risks such as burglary, personal accidents, third-party liability and the cost of temporary accommodation if the house becomes uninhab...