Knowledge Centre

Home Insurance- This Gudi Padwa secure your dream home

HOME INSURANCE is otherwise known as "homeowner's insurance" and is a category of property insurance that provides coverage to your residence against various threats. Invest in home insurance to safeguard your home against risks like earthquakes, cyclones, floods, riots, theft, burglary, etc.

Like all other insurance types, home insurance is an agreement between you and an insurance provider, who commits to cover the losses/damages caused to your home on the payment of premium. Home insurance is important as it helps in providing cover against any damages caused to third parties or guests while they are present at your home. This is important as it will protect you from any litigation filed against you by the third party.

Why is home insurance required?

A home is a culmination of your love and dreams and it’s where your near and dear ones can rejoice and create memories for a lifetime.There is nothing more important than making sure that it is safe and secure. You may have put all your savings towards buying or building your home, but it is also essential that you take measures to protect this safe space. The best way to accomplish this is by purchasing home insurance.

Here is how home insurance can secure your safe space.

a. Coverage for the building

The physical structure of your home is exposed to several perils. Additional functionalities in the building such as the plumbing, air-conditioning, heating, etc. are also exposed to risks. Withexhaustive home insurance, the building and these functionalities are covered in case of damage,which reduces your stress and liability up to a certain extent.

b. Coverage for personal belongings

A home is not just four walls and a ceiling but everything you put inside it to lead a happy and comfortable life. This includes appliances like refrigerators, air conditioners, furniture, televisions, and computers along with personal belongings such as jewellery and clothes. These costly items are at the risk of being stolen or damaged. Home insurance provides cover against the damage or theft of these personal belongings.

c. Cover against damages caused by fire

Decorative lights, candles, firecrackers are fairly common in Indian homes. The most common reason for fires in Indian homes is the failure of an electrical circuit which is overburdened plug points. Besides this, there is also the danger of candles falling and starting a fire. This can lead to heavy damages to the contents of your home.Secure your home against damages caused by fire with an extensive home insurance policy.

d. Cover for the additional structures

Additional structures with the building of your house such as the backyard, mailbox, pool, etc. are also at risk especially detached garages. If you have a sports bike or luxury car in your garage then you need to take extra caution against burglary and use safety gadgets. Home insurance will be quite helpful to safeguard your possessions against these threats.


There are a number of insurance providers that offer various home insurance plans with a variety of benefits. It can be quite overwhelming to choose the best possible policy but you can do this by checking the details of each of the policies that suit your requirements. Compare policies online, check coverage and claim settlement ratio and ask about the exclusions before purchasing the best home insurance policy.

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

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