Home Insurance Plan
Home Insurance Plan
Why Buy Home Insurance?
It is important as it protects your house from any damage or loss which may occur at any point in time.
If a third person suffers any kind of injury in your house, then the home insurance plan will secure you from any legal liabilities.
Provides cover in case of any damage caused to the house due to theft or robbery.
Key Features of Home Insurance
- It provides comprehensive coverage not only to your house but also to your house contents from damage caused.
- Available at lower premium rate than any other insurance policies.
- Timely house insurance payouts help in rebuilding processes quickly.
- In the process of repairing or reconstruction an alternate accommodation will be arranged for a specified time interval. The home insurance policy will cover all the expenses incurred.
- Coverage offered by the comprehensive house insurance plan is higher than any other plan.
Types of Home Insurance
On the basis of Geographical Borders
Fire or special Perils Policy
It offers protection against the damage caused to the house due to any natural calamity like earthquake, volcanic eruptions etc and man-made activities like fire, missile testing operation, overflowing of water tank etc.
Public Liability Coverage
In case of any loss or damage caused to the guest or any third party within the insurer house then the home insurance comes for your rescue.
Building Structure
It provides cover against any damage caused to the permanent fixing of your house like fitting in kitchen, washrooms, ceiling etc.
Theft
In case of any theft causing harm to the contents of the insured house, the insurance company will provide the cover for the equivalent.
Personal Accident
In case of any physical injury incurred anywhere across the globe leading to permanent disability or demise of the insurer, then compensation is provided for the same.
Content Insurance
In case the interior of your house is destroyed due to flood or is burnt to ashes due to fire outbreak leading to loss of the house content then the house insurance will provide you with the cover for the same.
Landlord Insurance
This insurance policy will protect the landlord of the house from any loss of rent or public liability.
Tenant Insurance
The house insurance policy is a necessary buy for a tenant residing in somebody else’s house.
What is Covered in Home Insurance?
Fire and Perils covers Aircraft Damage, Lightning, Earthquakes,Riot and Strikes, Storms, Cyclones, Floods, Missile Testing Operations.
Thefts and Burglary Cover including jewellery and other valuable belongings.
What is Not Covered in Home Insurance?
Loss and damage caused by wear and tear and depreciation.
Loss of cash.
Loss and damage caused due to wars.
Loss, destruction or damage caused due to any electric equipment short circuits or breakage.
Loss occurred due to earth movement like in case of volcanic actions of erosions.
Any pre-existing damages like wear and tear.
How You can File a Home Insurance Claim?
- Inform the insurer provider about the situation and claim within the specified time mentioned in the policy documents.
- Once the FIR is lodged, submit all the bills of the incurred expenses to the insurance provider.
- Once the insurance provider accepts your claim, a surveyor is sent to inspect your house loss within 48 hours.
- After the submission of the surveyor report, the settlement of the payment is incurred towards any repair or renovation of the insured property.
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Frequently Asked Questions (FAQs)
What is Covered in Travel Insurance?
Medical Evaluation & Expenses
Personal Accidents
Theft or loss of the Personal Belongings
Trip Cancellation or Delay
Loss of Baggage
Loss of Passport
Repatriation of Mortal remains
Hijacking
Medical Emergencies
Delayed Flights
Accidental Deaths/Illness/Injury