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Doing a makeover on your home? Keep your home insurance in mind

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Though people use the words ‘home’ and ‘house’ synonymously, a lot of effort goes into making a house your home. As you pick out the choicest tiles, map out interior design and invest in pristine teak-wood furniture, you have a very clear idea of how your home should look like. Since each square-foot of your home is going to play host to memories that you and your family are going to make over a lifetime, a home makeover is an important decision you need to make.

Typical home makeovers involve repainting the walls, refurbishing the interiors, buying new furniture and appliances and investing in tasteful redecoration of existing aspects of your home. This can be quite a costly affair and so, it is important to understand the home insurance benefits during such an endeavour.

Home insurance benefits explained

Since a lot of time, money and effort goes into home-makeovers, it is important to choose home insurance policies that provide certain benefits that make it easy for people to go about the process.

Re-painting the house should ideally be carried out post a time of claim settlement for your home insurance. In the unfortunate event of floods, storms and natural disasters, the external appearance of your homes could take a severe hit and so, it becomes important to invest in re-painting.

Structural modifications can also be carried out during the event of re-construction provided the reinstatement value on the home insurance plan is accommodative of it.

When buying new furniture and appliances, it is important to declare the new items at the time of home insurance purchase/renewal. During this process, insurance companies need to take cognizance of the fact that these new items are part of the home, so that any damage or repair and replacement expenses incurred by these items are covered under your home insurance plan.

Effect of a makeover on home insurance

A home makeover has many positive effects on the  home insurance plan. Insurance companies understand that a lot of money goes into this process and can provide competitive costs upon negotiation. The sum insured of a made over home is also higher than a home that has not been invested on.

Considering the many benefits of home makeovers, it is high time for you to invest in it if you are still indecisive about replacing your old furniture or buying that awesome LED TV you have always wanted!  The folks at HDFC ERGO are ever-ready to help you out with all your home insurance needs. So, what are you waiting for, treat your home to the makeover it deserves!

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Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.