Home Insurance
Home means the world to us, it is the epitome of our desires and emotions. Many of us invest the savings of a lifetime to get a home for ourselves. We need to make sure that it is safe... Home insurance covers the structure of the house and the contents which include prized possessions against damage from natural calamities like floods, earthquakes, storms and man-made events like riots, arson etc.
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Benefits and Features of Home Insurance
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Complete coverage for any damage to your home or it's contents from natural calamities and man made events
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Complete peice of mind in midst of environmental issues or social unrest
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Theft or burglary of property and valuables at the insured premises if the homeowner is away
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Valuable articles cover for silverware, jewelry, art, antiques and costly electronic gadgets, computers are covered
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Benefits like round the clock customerservice, immediate access to the insurance experts and quick customer service.
Home Insurance and Home Loans
In India, majority of people buy a home insurance while seeking for home loan as it is generally attached with the home loan product. Assuming you have taken a home loan to buy your dream house and definitely you will plan to furnish and decorate it with classy interiors, valuable antiques and latest furniture. It would be heart breaking if the house gets damaged due to fire or natural calamities like earthquake, floods, lightning, thunderstorm etc.
In absence of home insurance you will have to shell out the cost of damage repair(s) from your own pocket which may prove to be very costly. A home insurance plan offers coverages for the building structure and its content, thus securing against any damages to the structure or contents. So you can be assured while paying your home loan EMI that any sudden damage(s) or expense(s) to your home are covered.
What’s Included?
Fire
Your home is a literal brick-and-mortar manifestation of your dreams. Our home insurance solutions protect your dreams against any damage due to fire.
Burglary & Theft
It’s distressing to even think about your house getting broken into. Stay peaceful with our home insurance solutions by insuring your possessions against theft/burglary.
Electrical Breakdown
Breakdown of appliances can disrupt everyday life and come at a cost. Insure them under our home insurance to avoid sudden expenses.
Natural Calamities
Did you know that 68% of India’s land is prone to drought, 60% to earthquakes, 12% to flood, and 8% to cyclones? You can’t predict natural calamities; but you can protect your possessions against earthquake, flood, storm, hurricane, etc.
Manmade Hazards
Troubled times can affect your home as well as your peace of mind. Keep it secure with our home insurance solutions against strikes, riots, terrorism, and malicious acts.
Accidental Damage
Just spent a fortune on fixtures and sanitary fittings? Stay worry-free by securing them against accidental damage with our home insurance plans.
Alternate Accommodation
Get shifting expenses, rent for alternative/hotel accommodation, emergency purchases, and brokerage in case your home becomes unfit for living because of any covered cause of loss.
What’s Not Included?
War
Loss and/ or damages arising out of situations such as war, invasion, act of foreign enemy, hostile. are not covered.
Precious collectibles
Loss of bullions, stamps, work of art, coins etc. will not be covered.
Old Content
We understand that all your precious possessions hold emotional value but anything that’s over 10 years old will not be covered.
Consequential Loss
Consequential losses are losses that are not the natural result of the breach in the usual course of things, such losses remains uncovered
Willful Misconduct
We ensure that your unforseen losses are covered, however if there's any case of willfully done damage to your property, that remains completely out of the coverage scope of policy.
Third party construction loss
Any damage caused to your property due to third party construction is not covered.
Wear & Tear
Your home insurance does not cover usual wear and tear or maintaince/renovation.
Cost of land
Under circumstances this policy shall not cover the cost of land.
Under costruction
Home insurance cover is for your home where you reside any under construction property will not be covered.
Optional Cover under Home Insurance
Jewellery & Valuables
Now, your precious jewellery is protected against any risk of theft
Jewellery and valuables refer to ornaments or articles made of gold or silver or any precious metal including diamonds as well as sculptures and watches. This add on cover can be opted for maximum upto 20% of your Home Content (Belongings) sum insured. The loss of your jewellery & valuable would be covered on the basis of the prevailing market value
In case your content sum insured is Rs 5 lacs you can secure your jewellery and valuables upto 1 lac. Imagine in your absence there is a theft incident at your home and you end up losing your precious insured jewellery Under such scenario you would be required to submit we the original invoice of the jewellery lost to process the claims. Excess and deductible to be applied.
Pedal Cycle
Cover your pedal cycle up to Rs. 5 lacs
Under this cover, we insure losses to static exercise cycle as well as your pedal cycle with or without gear. It covers losses caused by fire, calamities, theft and accidents. We protect any third party liability to a person or property caused by your insured pedal cycle. However, exclusively if your pedal cycle’s tyres only are stolen or damaged it remains uncovered.
How does it work?: On your next cycling expedition due to road accident your cycle is damaged beyond repair leading to total loss, under such situation we will cover the losses. Additionally, if a third party person gets injured due to the accident caused by insured cycle then we shall cover for the third party claim too. Excess and deductible to be applied.
Terrorism Cover
Covers damage caused to your home due to terrorism
Due to a terrorist attack if your home structure/content gets destroyed we cover it