I own a flat/home/unit in an apartment.
I recently paid off all may outstanding mortgage. While the mortgage, the home-insurance was owned by (in name of) bank which is now cleared off.
As there is no home insurance in place now, I want to protect myself from unexpected BIG damage to my property. Unexpected damage include natural disaster or gas blast in my/neighbor unit etc. So, in general, the loss that is most unlikely but may cause huge damage to my property.
If you really want in numbers, say, at least 30% value loss of current market value is something I consider BIG loss.
Property is in considerably safe area. There is no sea nearby. There are not big storms. There are no earth quakes. There are no floods.
Gas supply is through gas pipe lines. Some units (specially my neighbor) still use gas cylinders though.
What factors I should consider wile buying an insurance for such a property?
Just in case it matters, the property is in India-Maharashtra-Pune. I avoided to tag this question as india. I am thinking about only the structure (wall/pillars etc) of the property. I am not thinking about contents (equipment/furniture etc.).