Home Insurance India
It is indispensable that you secure your home from normal and man-made devastation. Home Insurance Plan guarantees you peace of mind by shielding the construction and the contents of your home. There are many home insurance companies in India who proffer cheap home insurance package.
Policy Details:
Policy Coverage
You can prefer
to buy budget home insurance India online for only the building
(construction) of your home, or only the contents (property)
or both.
The policy covers the fatalities to the construction and contents of your home due to any ordinary and man made catastrophes.
The calamities covered are:
- Fire
- Riot, strike & malevolent damage
- Explosion & implosion
- Earthquake
- Lightning
- Storm, cyclone, hurricane, tornado, hurricane, flood & inundation
- Damage due to impact by vehicles
- Missile test maneuver
- Subsidence, landslides and rockslides
- Leakage from automatic Sprinkler installations
- Aircraft damage
- Bursting as well as/or overflowing of water reservoir, apparatus and pipes
Burglary covers (only for contents):
The
contents of your home are also covered against loss due to burglary
or an attempted burglary. It also covers loss of jeweler, silver
articles and valuable stones kept under lock and key, up to 25%
of the total content sum insured or Rs.1 Lac, whichever is lesser.
Key Benefits
Avail 15% discount
on a 3 years home insurance policy and 25% discount on 5 years
policy.
Home Structure:
The home insuranceIndia
policy insures the structure of your home for its rebuilding
value (and not for market worth). Reconstruction value is defined
as the cost incurred to restructure the home if it is dented.
On the other hand market value is a blend of cost of land, demand & supply
scenario, etc.
Sum insured is calculated by multiplying the built up area of your home with the edifice rate per sq. feet, that is if the built up area of your house is 1000 sq. feet as well as the edifice rate is Rs.800 per sq. feet, the sum insured for your home construction is Rs.8, 00,000.
Policy Exclusions:
Deliberate damage of the
property
Loss, dent and destruction caused by war, wear and tear, atmospheric
condition etc.
Losses if your home has been vacant for more than 30 days.
Cash, gold ingots, picture, works of art and antiques
Loss to the construction and / or belongings home due to acts
of intimidation
In these days you must carry at least a cheap home insurance. The Indian home insurance companies are proffering auto home insurances, business home insurance and home and business home insurance India.
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