Home Insurance

Home Insurance

  • Home Insurance provides coverage for the loss or damage to your personal property and possessions against natural and man-made calamities.
  • Natural - Fire, Storm, Earthquake, Tornado, Cyclone, Flood, Landslide, Lightning
  • Man-Made - Fire, Burglary, Theft, Aircraft Damage, Malicious Damage, Terrorism, Strike, Riot, Explosion
  • There are 3 insurable components in a Home Insurance – the structure (building), the contents (material assets) and people (family members and third party). You can get a specific coverage either for the structure or the contents of your home. You can also opt for a comprehensive coverage that includes both the structure and the contents.
  • However, what is covered and what is not, varies from company to company and plan to plan. For instance, many home insurance plans exclude Terrorism, Strike, Riot & Explosion.

Why Home insurance?

  • Disasters are unwelcome guests who don’t knock twice before intruding in your home, sweet home. It is always good to be prepared beforehand. Moreover, when you apply for a loan against property, the financer always prefers that the property is insured against potential loss or damage. Getting a home insurance plan will help you ease out the approval of such loans.

What contents should ideally be covered in the Policy?

  • You should get coverage on the following contents:
  • Expensive belongings
  • Precious goods like gemstones, jewelry, etc.
  • Appliances such as washing machine, refrigerator, kitchen appliances
  • Furniture
  • Furnishing Items

Home Insurance Does Not Cover

  • Willful destruction of property
  • Loss, damage or destruction caused by Negligence, wear and tear, civil war and nuclear weapons