WHY HOME INSURANCE?
There is no place like home in the entire world. After a tiring day at work, a home
is your haven of peace that gives shelter, comfort and warmth. A place where you
and your family can rejoice, unwind and make thousands of memories that last for
a long time.
Buying your dream house was probably the biggest financial investment you ever made.
And then came in the responsibility to protect it from unpredictable damages, natural
or manmade disasters and potential threats like burglary and theft. By investing
in a home insurance policy, you actually buy immense peace, assurance and safety
against these unexpected events. With a good home insurance you are completely equipped
to face any crisis or storm that comes your way.
WHY HOME INSURANCE AT HDFC ERGO?
HDFC is a pioneer in India for housing loans for more than three decades now and
ERGO is a worldwide market leader in general insurance. Together they provide affordable
solution for home insurance in India. HDFC ERGO Home Insurance policy provides a
reliable and protective coverage which encircles and covers your home.
The home insurance plan by HDFC ERGO not only safeguards the structure of your home
but also ensures a safety net for all the belongings and prized possessions collected
over the years with your hard earned money. The policy cover gives you a chance
to choose either the house structure or the household contents in a single policy
with minimum documentation
To make home insurance easily accessible, we have an instant online policy option
that helps you buy home insurance policy online with minimum hassles and worries.
Key highlights of the Policy
- Home insurance that provides safety and protection to your valuable property and
- A home insurance policy that protects not just your home structure but the household
- Insurer has to mandatorily choose the fire cover whereas Burglary is an optional
cover that is offered at a low cost that includes theft and Larceny
- Discount upto 25% on the fire section and 15 % on the burglary section
- Sum Insured is decided based on reinstatement value
- More discounts on premium can be availed by the insurer on deletion of risks like
riots/ strikes, flood/storm and earthquake
- The covers provided are:-
- Section I(a) Fire and Special Perils -Building (mandatory section)
- Section I(b) Fire and Special Perils -Contents (mandatory section if Burglary is
- Section II Burglary including theft and Larceny -Contents
Key features of Home Insurance
- Applicable to any residential building with RCC/ RBC/ Tiles/ACC roof and walls of
burnt brick /stone /concrete
- Covers building against risks like –Fire, Lightning, Explosion / Implosion,
Storm, Flood, Riots, Strike Malicious Damage, Earthquake, Terrorism (optional)
- An individual with an independent house or a flat can opt for this benefit
- Sum Insured for this benefit is calculated as cost of construction x Built up area
- Value of land is not included in the Sum Insured
- Discounts can be availed on deletion of risks like terrorism, riots/ strikes, flood/storm
- Covers articles like consumer durable, furniture, personal belongings specified
items etc against fire & allied perils
- Coverage for contents against risks like fire, lightning, explosion/implosion, storm,
flood, riots strike and malicious damage, Earthquake , Terrorism(optional)
- Sum insured for personal effects like clothing, footwear etc is calculated on market
- Further Discounts can be availed on deletion of risks like riots/ strikes, flood/storm
- Covers articles like valuables, consumer durable, personal belongings specified
items etc against burglary and theft
- Sum insured for this cover has to be similar to the fire content section (I b)
- Discounts up to 15 % are given on appropriate security arrangements like Burglary
alarm, 24 hour security, intercom, etc
- Damage to safe and almirah is covered upto 5 % of the sum insured
- Only jewellery locked in a safe is covered.
WHAT IS NOT COVERED- HDFC ERGO Home Insurance Exclusion Policy
*Pls note this is not exhaustive list, please refer policy terms & conditions
- Loss or damage caused by depreciation or wear and tear and consequential loss of
- Willful destruction of property
- Following properties not covered:
- Property under construction
- Kutcha property / construction
- Resident cum offices
- Resident cum shop
- Resident cum godown
- Loss, destruction or damage caused by war, invasion, act of foreign enemy, hostilities
or war like operations (whether war be declared or not), civil war, mutiny, civil
commotion assuming the proportions of or amounting to a popular rising, military
rising, rebellion, revolution, insurrection or military or usurped power
- Loss or damage contributed by nuclear weapons material and/or ionizing radiations
- Loss, destruction or damage to articles of consumable nature, livestock and motor
- Loss, destruction or damage to any electrical machine, apparatus, fixture, or fitting
arising from or occasioned by over-running, excessive pressure, short circuiting,
arcing, self heating or leakage of electricity from whatever cause (lightning included)
provided that this exclusion shall apply only to the particular electrical machine,
apparatus, fixture or fitting so affected and not to other machines, apparatus,
fixtures or fittings which may be destroyed or damaged by fire so set up
- Loss of earnings, or other consequential/indirect loss or damage of any kind or
- Loss caused by burglary and/or housebreaking and/or theft and/or larceny where any
member of the Insured’s family is concerned as principal or accessory
- To securities, documents of any kind, stamps, coins, cash/paper money, deeds, ATM
cards, credit cards, charge cards, bonds, bills of exchange, promissory notes, or
any other negotiable instrument, books of accounts or any other business books,
- To articles of consumable nature, livestock and motor vehicles
- To curios, antiques, pictures and other works of art, guns, collection of stamps,
coins and medals for an amount collectively in excess of Rs. 10,000 unless specifically
stated to the contrary in the Schedule
- To jewellery and valuables in excess of Rs. 10,000 per single article unless stated
to the contrary in the Schedule
The policy is designed for:
- Individuals residing in flats or independent houses provided that the external walls
are of burnt bricks / stone / concrete blocks and RCC / RBC / Tiles / ACC roof
- Home owners and tenants can opt only for the contents cover for fire as well as
HDFC ERGO is completely driven by the organizational values and philosophy based
- The company follows a set standard for fair, just and timely settlement of insurance
- In the event of any claim, call on our toll free helpline no. 1800-2-700-700 (Accessible
from India only) to register the claim at the earliest with details of the Equipment
damaged, Location of loss, Cause of loss and amount of loss (approx. estimation)
and Policy Number for reference
- On claim registration, a surveyor would be appointed to estimate the loss/ damage,
depending on the type of loss viz. Fire/Burglary etc.
- All claims registered with HDFC ERGO shall be settled in 7 working days from the
date of receiving complete documentation
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- What will be the start date of my insurance policy?
Your insurance cover starts from the commencement date indicated by you or receipt
of premium by us, whichever is later
- What are the eligibility criteria to avail a Multi Year Home Insurance policy?
Any resident Indian who is the owner of the property & which is located in India
can purchase a Multi Year Home Insurance Policy
- How do we do the property valuation for home insurance?
Property valuation is done by multiplying the built up area of the property with
the cost of construction per square feet
- What is the maximum tenure of the policy?
Maximum duration of this product is 5 years
- How do we calculate the premium?
Premium can be calculated by multiplying premium rate with sum insured