Home insurance, also known as property insurance, compensates you for losses caused by unforeseen events such as theft, burglary, malicious activities, and natural disasters such as fire, floods, and earthquakes. Home insurance, also known as home owners insurance, protects the structure of your home as well as its valuable contents. According to the National Crime Record Bureau, there were 5,86,649 registered theft cases in 2021, followed by 97,792 burglaries. So, in the New Year of 2023, give your home the security it deserves by insuring it with home insurance. Loan Magic Home Shield Insurance also covers portable electronic equipment against all risks. Home insurance is available to both homeowners and renters.