Should I insure my property? 

 Most Banks do not insist on property insurance, while some offer it as an incentive for a certain period. However, it is advisable to go in for an insurance cover on your property. Property insurance rates are low (Approximately Rs 60 per lakh of property value for a period of one year). If you decide to go in for a longer tenure for insurance, you can avail of significant discounts being offered by the various insurance companies.