Home Insurance

Home is where the heart is, as rightly said.. A home is the place of innumerable memories; no money is better spent than what is invested on your home. Thus safeguarding your home from unforeseen events becomes a priority and the best way can be securing with home insurance. An adequate and a comprehensive home insurance policy must be on top of your priority list. It is just not enough to have an insurance cover for your home but what matters is the right home insurance that covers all possible liabilities.


Why Home Insurance?

  • A home insurance that adequately safeguards your priceless property and possession
  • A home insurance that protects both your home structure and the household contents
  • Low Cost Optional Cover for Burglary including Theft and Larceny
  • Avail premium discount for Security Features

Features

With Home Insurance Policy, you can choose to cover the structure of your home only or include the household contents as well in a single policy with minimum documentation

The policy covers:-

  • Fire and Special Perils:-Building and Contents

Covers the structure of your home and contents against

  • Fire, Lightning, Explosion/Implosion, Aircraft Damage
  • Riot Strike, Malicious and Terrorist Damages
  • Bursting and overflowing of water tanks, apparatus, pipes
  • Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
  • Earthquake, Volcanic Eruption & other Convulsions of Nature
  • Impact damage by rail/road vehicle and animal
  • Subsidence and Landslide including Rockslide
  • Missile testing operations
  • Leakage from automatic sprinklers installations
  • Bush fire
    The sum insured for the structure of the house is based on the Reinstatement Value. Quite simply, it would be the reconstruction cost of the house in the event of any loss/damage due to any of the insured events like Fire, Riots, Storm, Flood and so on.

    The reconstruction value for the structure is determined by the construction cost. This, however, would not include the cost of Land. The home insurance policy will calculate reconstruction cost based on two parameters which are mentioned below:-
  • Built Up Area of the House (Square Feet)
  • Cost of Construction in your area / locality
  • Burglary and Housebreaking including Larceny and Theft - Contents (as defined by Indian Penal Code)

You can also insure the contents of your home against loss due to burglary and /or housebreaking or any attempted burglary. Jewellery kept in Locked Safe within the Home premises can also be covered.

Sum Insured for Contents under section :  Fire & Special Perils and  Section : Burglary & Theft should be the same.

The Sum Insured for Contents / Valuables is based on the market value.

Home Insurance enables you to cover a host of household items like Electronic Equipments, Furniture & Furnishings, Jewellery, Clothes and so on.

Exclusions

  • Willful destruction of property.
  • Loss or damage caused by depreciation or wear and tear and Consequential loss of any kind.
  • Loss or damage, directly or indirectly, caused by or arising from or in consequence of or contributed to by Nuclear weapons material and / or Ionizing radiations.
  • Loss or damage, whether direct or indirect occasioned by the happening through or arising from any consequences of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection military or usurped power or civil commotion or loot or pillage in connection therewith.



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