Q:I am planning to book a flat in the city and will take a loan for the same purpose. Is it necessary to obtain a property insurance before taking a home loan?
Latest Answer: Hi All,
It is very common practice of the sales representative now a days. They will forcing you to buy property insurance from them claiming it is mandatory as per RBI rules. Then certainly a question will come into your mind. Is that true and should I buy the property insurance from them or can I explore from the market also? So, don't worry. You don't need to take any property insurance.
