Home Insurance, also called Property Insurance, provides coverage against damages to the insured’s residence and the contents in the house. This insurance financially protects the insured against any accidents or any burglary. This insurance might seem as a useless expenditure but is highly essential as it has financially protects the insured against explosion or fire, theft, attempted burglary, damage due to natural disasters, and compensation for damage to property or contents which
might include valuables like jewellery or gadgets. Emergency repairs, additional expenses of living outside one’s home while the repairs are being done, replacement of personal property are taken care of with a Home Insurance Policy.

General Scope of Home Insurance

Fire & Allied Perils

  1. Coverage for building
  2. Covers contents of the dwelling belonging to the proposer and his/her family members permanently residing with him/her.

Allied Perils:

  1. Fire, Lightening, Explosion of gas in domestic appliances
  2. Bursting and overflowing of water tanks, apparatus or pipes.
  3. Damage caused by Aircraft
  4. Riot, Strike, Malicious or Terrorist Act
  5. Earthquake, Fire and/or Shock, subsidence and Landslide (including Rockslide) damage
  6. Flood, Inundation, Storm, Tempest, Typhoon, Hurricane, Tomado or Cyclone.
  7. Impact damage

Burglary & House Breaking including larceny and theft

Covers contents of the dwelling against loss due to burglary, house breaking, larceny or theft.

All Risks (Jewellery & Valuables)

Covers loss or damage to your jewellery and valuables by accident or misfortune whilst kept, worn or carried anywhere in India subject to the value declared in the schedule.

Plate Glass

Loss or damage to fixed plate glass in the insured premises by accidental breakage subject to limit of sum insured

Breakdown of Domestic appliances

Covers domestic appliances against unforeseen and sudden physical damage due to mechanical or electrical breakdown.

What is not covered?

Damages due to nuclear explosions and due to war, military activity, or invasions are not covered under a Home Insurance plan.