Home Insurance for New Homes 2025: Key Insights

Posted on: May 5, 2025 | 3 mins | Written by: HDFC ERGO Team

Home Insurance for New Homes 2025: Key Insights

Be it a cottage, a mansion, or a small studio apartment, a home is regarded as a secure haven, a special comfort zone, where you cherish your family and loved ones. It is a protective shield for you. However, this shield too needs protection and what can be better than a home insurance policy?

Although the awareness regarding home or property insurance is relatively low among Indians, it is gaining popularity gradually, due to its relevance.

Here, we will highlight the important factors to know about home insurance for new homes 2025.

Need for home insurance

You will understand the need for home insurance if you know its benefits:

1. Financial protection:

This type of insurance offers financial protection for your house structure along with all the valuable belongings present in it.

2. Protection against natural calamities:

You cannot control the weather under any circumstances. So, if under severe conditions like earthquakes, lightning, floods, etc. your home gets damaged, this insurance will provide financial protection coverage as per the terms of your chosen policy.

3. Human-induced mishaps:

This involves damages caused by third parties like robbery, burglary, theft, fire damage, etc. If you maintain a reliable policy, you will ensure protection against your loss.

4. Types of plan:

Considering your requirements, you can either invest in a comprehensive home insurance plan or purchase specific plans like a standard perils plan.

5. Renters insurance:

It is not necessary that you need to be the owner of the home to ensure its protection. You can even purchase a renters insurance policy to secure your belongings at your rented place.

6. Content coverage:

With a competent home insurance or homeowners insurance policy, you can ensure protection of not only the structure of your house but also the contents present within like electronic equipment, jewelry, paintings, etc.

Types of home insurance

The primary step to purchasing a home insurance plan is to understand all the types of plans currently available in the market:

1. Standard fire including special perils plan

2. Burglary and theft coverage

3. Content and belonging coverage protection

4. Personal accident coverage

5. Public liability protection coverage

6. Tenant’s insurance

7. Landlord’s insurance

8. Bharat Griha Raksha policy

Among these, IRDAI has declared the Bharat Griha Raksha policy as the standard home insurance plan. You can get it from several insurance companies. For further details, you can visit the official IRDAI website. For specific individual coverages, you can go for a comprehensive policy.

Conclusion

Considering your circumstances, once you have decided on a suitable plan, you can research the quotes regarding your desired plan. You can easily contact your insurance provider or a reliable agent, to guide you along the course.

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