Features And Benefits Of Home Insurance

 

  • To ensure complete security & protection against accidental damages Householder policy provides cover both to building and its contents.
  • Home is an environment offering affection and security.
  • It covers losses and damages to an individual’s house and to assets in the home
  • It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home.
  • Its contents, loss of use, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
  • The discounts may be granted in such a manner that the minimum net premium after allowing all discounts should not be less than 50% of gross total premium under the policy.
  • The premium will be loaded by 10% / 25% depending on whether one policy period / two policy periods have been affected by claims.

 

What Is Covered

A loss of the residential building, household goods & personal effects – as per Fire Policy + Earthquake. Loss or damage to Jewelry, Valuables etc. due to accident or misfortune.
Death or bodily injury by accidental, external violent, visible means including Medical Expenses resulting from accident & weekly compensation during hospitalization in Hospital only. A loss by Fire & allied perils Housebreaking / Theft, Accidental external means home insurance, home insurance features, home insurance coverage, homeowner’s insurance.

 

Some Exclusion Of Home Insurance

  • A loss of money, securities, livestock, motor vehicle, documents.
  • Loss of cash, loss of jewelry within the municipal limits.
  • Loss due to wear & tear faults defects existing at the commencement of the policy, for which the manufacturer is responsible.
  • Suicide or attempted suicide, self -injury, death or injury resulting from the Insured committing any breach of law with criminal intent.
  • Theft from a car (saloon) except when stolen while properly locked. Loss caused by moth, mildew etc.
  • For Act of God Perils – 5% of claim amount subject to a minimum of Rs. 10,000/-for each and every claim.

 

What do you get when you protect yourself with the  Insurance

Homeowners Program?

 

  • Comprehensive insurance coverage to protect your property against damage from fire, smoke, storms, vandalism, theft and other hazards.
  • Temporary living expenses if your home is uninhabitable after a covered claim.
  • The option to add coverage for valuable personal property, such as jewelry and musical instruments.
  • Replacement Cost Coverage that replaces your lost personal belongings with brand-new equivalents of the same quality.
  • Optional Coverage: Various optional coverage are available so that you can tailor coverage to suit your needs and lifestyle.

32 Comments

Rohon yadav · at

Nice Blog.

Anagha pirangute · at

Good sharing,
Really helpful if someone going for a home insurance.
Because now days people are taking maximum home loans like even 90% also.
Point to point with the exclusions is apriciated .
Thanks

Juris Ainsworth · at

What got my attention the most was how you said that the homeowner’s insurance covers the loo or damages to the home due to accidents that happened at the home or at the hands of the owner. Considering how there are more than a couple of kids living in the house with me, I have a feeling that we really do need a homeowner’s insurance. Just last week the garage door broke because they hammered it. I just want to be sure in case something worse than that happens. Thank you.

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Dean Phillips · at

I had no idea that homeowners insurance covered losses and damages to an individual’s house and to the assets inside. My wife and I are expecting our second child, so we want to move out of our apartment and into a house. It might be a good idea for us to purchase homeowners insurance once we find a home to move into.

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