Home Insurance

It is a policy that covers the physical structure of your residential building and the content within your residence. Be it a homeowner or a tenant, this insurance covers damages caused by floods, earthquakes, theft, fire etc.

The sum insured can be increased by opting for a higher premium. It can however, not be decreased.

This policy has a maximum duration of 5 years. Buyers are offered discounts ranging from 3% to 12% depending on the length of the tenure.

Yes. You can cancel the policy anytime you want. However, please note that retention of premium as per short period scales would be applicable.

To be eligible to apply for this policy, your property should meet the following requirements:

• It should be a registered residential property.
• Its construction should be complete in every respect.

A home is more than just a house. It is the one place in the whole world that we can truly call our own. It becomes our responsibility to protect it from unforeseen events, forces of nature, and the ravages of time. A home insurance policy is the best tool we have for protecting our most prized possession. Read more to understand the importance of Home Insurance.

Most people need to take a home loan to buy a home. While the loan agreement may require you to get home insurance, there is no compulsion to get the home insurance from a specific bank or insurance company. The loan provider may require you to get insurance for a certain value but as long the insurance company is authorised by IRDAI, the lender cannot refuse to accept the policy.

Reinstatement cost is the cost of repairing the damaged property using materials of the same quality or kind. Reinstatement intends to indemnify your loss. The idea is to reconstruct the property in a similar condition that it was before the damage. Reinstatement cost primarily includes labour and material cost.

In the case of home contents insurance, reinstatement cost includes the cost of replacing the lost or damaged articles with articles of the new kind without factoring in depreciation.

The sum insured is usually calculated based on the type of property, its market value, the area of the property, rate of construction per square feet. If, however, a comprehensive home insurance plan is bought, the sum insured would also include the cost or value of the articles of the home which are to be insured.

The structure is a wider term which can be used to include the building of the property, the compound wall, terrace, garage, etc. The structure, thus, includes the vicinity of the building too. Building, on the other hand, means only the standalone building which is insured. It does not include the surrounding property.

In the case of damages, you should immediately inform the insurance company if such damages are within the scope of coverage. To inform HDFC ERGO, call 022 6158 2020. You can also send an email to the company at care@hdfcergo.com. You can also call on the number 1800 2700 700 for informing about the claim. Claim intimation should be made within 7 days of the damage.

A set formula has been defined to calculate the sum insured for the home building, including all structures. The prevailing cost of construction of the home building being insured, as declared by the policy buyer and accepted by the insurance company, becomes the sum insured. For home contents, built-in cover of 20% of the building sum insured, subject to maximum INR 10 lakhs, is provided. Further cover can be purchased.

Policies that provide comprehensive coverage for your home are always best. With affordable premiums and discounted rates, Home Shield and Bharat Griha Raksha policies are two of the best policies you can look for.

Home insurance in India offers financial security for your residential building and its internal contents against damages from man-made and natural disasters.

The basic home insurance is quite cheap and affordable. Further discounts are also offered on premiums.

A comprehensive policy covers losses due to theft and burglary. Every Indian household has some amount of precious jewellery at any given time. It also covers man-made perils like riots, vandalism and natural calamities like floods, earthquakes, storms etc.

Yes. Tenants can also invest in home insurance to protect their precious possessions. Insurance here, too, covers losses against natural disasters and man-made hazards.

It is not mandatory in India but is advisable due to the multiple benefits they offer.

HDFC ERGO home insurance can be purchased online seamlessly. Customer support is available 24/7 to solve all queries relating to any policy or any claim.

To insure your home, you will need a comprehensive home insurance plan or homeowners insurance. Choose a plan that will protect you against property damage, theft, and liability, and also extend coverage to secure the valuable contents of your home. The right home insurance plan will provide coverage for both structure and contents along with additional coverage for the premium you pay. Check HDFC ERGO’s comprehensive home insurance plan to select one that suits your needs.

An affordable homeowners insurance or home insurance varies based on location, property value, and coverage needs. However, premiums can be reduced by opting for higher deductibles, bundling policies, and installing safety features like smoke detectors or security systems, which ensures that risks attached to your home is considerably less. It's essential to compare quotes from multiple providers, as discounts and rates can vary significantly. You can also check out HDFC ERGO’s comprehensive home insurance plan as we provide customisable plans with required add-ons at competitive premiums.

To insure your house, start by assessing the value of your home and belongings. Research different insurance providers and compare homeowners insurance policies that offer coverage for structural damage, personal property, and liability. Get quotes from multiple insurers, either online or through an agent. Choose the right level of coverage, factoring in potential risks like floods or earthquakes if applicable. Once you've selected a provider, complete the application process, undergo any required inspections, and pay the premium to activate your policy. Review your coverage regularly to ensure it meets your needs. Check HDFC ERGO’s comprehensive home insurance plan that comes with extra add-ons and boosts a smooth claim process.

Depending on specific circumstances, property insurance and home insurance can sometimes be used interchangeably in India. In general, home insurance is a type of property insurance that covers your home’s structure and/or its contents. Property insurance is a policy that covers assets, like land, buildings, machinery, goods, etc.

Home content insurance is a type of home insurance that covers the belongings in your house against loss or damage caused by perils like natural disasters, theft, fire, etc.

When buying home insurance, you can opt for add-ons like portable electronic equipment cover, jewellery & valuables cover, public liability cover, pedal cycle cover and terrorism cover.

Home shield insurance is a policy that offers comprehensive coverage for your home. It protects your assets for up to 5 years against various unanticipated events.

HDFC ERGO offers the home shield insurance policy in India. Owner-occupants of apartments/flats/independent buildings and tenants/renters are eligible for this policy.

Yes. Natural calamities are one of the many perils that home insurance offers coverage for. Floods, earthquakes, landslides, rockslides, etc., are some examples.

The coverage of your home insurance policy depends on the plan that you have chosen. However, typically, furniture, fixtures, electronics, gadgets, and valuables such as jewellery, pieces of art, etc., can be covered.

Homeowners generally prefer getting insurance that covers the physical structure. They may also want to protect the contents of the house, such as furniture, valuables, electronics,, etc. Tenants,, on the other hand, as they do not own the building, may only want to safeguard their belongings.