3.7 Crore+
Happy Customers
Covers Home Structure
Worth upto ₹10 crore
Attractive Discounts
Up To 45%* Off
Covers Home Belongings
Worth upto ₹50 lacs
Everyone dreams of owning a house, where all their loved ones can live and thrive and make unforgettable happy memories for the years to come. If you have purchased a condominium (condo), note that it needs proper upkeep and care to stay in shape. One such important step that comes under home maintenance is investing in home or condo insurance. It is a useful financial instrument that protects your abode against damages caused by a series of unforeseen events, including man-made calamities, natural disasters, accidental fires, etc. This means financial losses incurred to the condo unit or its contents are covered under condo insurance.
Hence, with the financial coverage under condo insurance, you can make necessary alternative measures when faced with such challenges without hurting your own wallet. The condo insurance policy by HDFC ERGO can protect the home structure for up to INR 10 crore and belongings for up to INR 25 lakhs. So, protecting your condo unit and belongings at an affordable price is now possible with condo insurance by HDFC ERGO.
There are tons of advantages to having a condo insurance plan. Some of the essential benefits are as follows;
Benefits | Details |
|---|---|
Elaborate protection | Condo insurance can protect the unit and/or contents of your condo unit against a series of mishaps. Its coverage works against fire accidents, theft & burglaries, accidental damage and so on. In addition, its coverage can be extended by opting for optional covers, such as portable electronic equipment cover, jewellery & valuables cover, terrorism cover, etc. |
Liability protection | As a condo owner, you may be liable in case of an accident on your property where someone gets hurt. In such scenarios, the policy will help cover the costs of damages and litigation. |
Peace of mind | Any damage to your cherished home or its contents can cause serious financial and mental distress. The coverage under condo insurance helps cover such financial setbacks with ease, giving you the right peace of mind as a condo owner. |
Coverage against man-made and natural disasters | Natural calamities, like floods, earthquakes, etc., and man-made hazards, like riots, terrorism, etc., can arise out of the blue and cause heavy damage to your condo or its contents. With condo insurance, you will get coverage for damages caused by such events. |
Wise financial decision | Besides protecting your condo, the policy takes care of the repair and replacement bills in case of damaged or stolen property in your home. This means you don’t have to drain your personal funds to fix such affairs. |
Helps rebuild life effortlessly | Losing your home is like losing an essential part of your life. The financial cover under the policy offers appropriate compensation in such scenarios to help get your home back in shape. Also, in case your condo becomes uninhabitable due to damages caused by an accident or calamity, the policy may cover the costs of temporary living expenses. |
Condo insurance by HDFC ERGO is packed with many useful features that come in handy. Some of the key features of this policy are;
Key features | Details |
|---|---|
Home structure coverage | Upto 10 Crores** |
Belongings coverage | 50 lakhs |
Additional coverage | Offers coverage for 15 types of belongings and perils |
Discounts | Attractive discounts of up to 45%* |
Choice of add-ons | Availability of 5 add-on covers |
Additional coverage | 15 types of belongings & perils covered |
Investing in a condo insurance plan is a great way to financially secure your prized home against damages caused by unforeseen events. Here are the details of the best condo insurance plans by HDFC ERGO;
For Tenants
This renters insurance plan is for individuals who are tenants and not the owner of the house. It offers financial protection for the tenant’s personal belongings against damages caused by theft, fire and man-made or natural calamities.
For Home Owners
This plan is designed for individuals who own their homes. It typically protects the unit of the condo and/or its contents against theft, fire, and man-made or natural disasters by offering financial compensation.
There are 5 main optional or add-on covers offered under condo insurance.
Portable electronic equipment cover
This portable electronic equipment add-on offers coverage in case of accidental damages or loss sustained by your valuable electronics, like laptops, cameras, etc., during travel. It covers the costs of repair or replacement of the electronic to the maximum sum assured.
To buy condo insurance from HDFC ERGO, you can go through these simple steps;
Step 1 - Go to the official condo insurance page by HDFC ERGO and click “Buy Now”,
Step 2 - Select whether you want to purchase a condo cover for homeowner or tenant,
Step 3 - Pick what you want to cover, i.e., structure and/or content,
Step 4 - Provide your email address and contact number and click “Submit”,
Step 5 - Enter the required fields, i.e., property details, structure and/or belonging value, etc.,
Step 6 - Choose the sum insured, policy tenure and any add-ons (if needed) and press “Proceed”,
Step 7 - Fill in any additional details on the next step.
Step 8 - Complete the policy premium payment online.
To renew existing condo insurance from HDFC ERGO, here are the steps you need to follow;
i. Visit the Home Insurance page.
ii. Click on “Renew” and enter the full policy number of the existing plan.
iii. Pick the existing plan you want to renew,
iv. Go through your property insurance policy details and make any adjustments that you want (if needed),
v. Complete the online payment procedure to get the renewal done.
To make a condo insurance claim with HDFC ERGO, here’s what you need to do;
Step I - Register your claim with HDFC ERGO by calling the helpline no. 022 6158 2020 or by sending an email to the customer service desk at care@hdfcergo.com
Step II - After claim intimation, follow further instructions as directed by our official,
Step III - Submit the necessary documents for the claim, such as photographs of the damage, asset register/logbook/item list, policy or underwriting booklet, all applicable certificates, FIR copy (if applicable), duly filled and signed claim form, etc.,
Step IV - Following document submission, HDFC ERGO will verify and process the claim and settle it at the earliest.
Condos, just like any other type of residence, are not immune to the risk of accidental damages or loss caused by fire, theft, natural calamities or man-made hazards. Such instances can have a major impact on the condo unit and its contents and may lead to significant financial burdens. This is where the financial coverage under condo insurance comes in clutch, essentially protecting your cherished home and its contents against such damages. Its coverage keeps your personal finances in check by helping you swiftly take the necessary measures to get your condo back in shape. In addition, it allows you to extend coverage by giving you the choice of including add-ons. So, while you can not necessarily evade damages caused by unfortunate events, you can surely bounce back from the losses sustained promptly by investing in a condo insurance policy.
1
What is the meaning of condo insurance?
Condo insurance is a type of insurance policy that is designed to financially protect your home, i.e., the condominium unit, against unfortunate damages or losses.
2
What is condo protection?
A condo protection plan generally refers to a condo insurance policy, which protects your condo unit and/or its contents against damage or loss caused by fire, theft & burglary, man-made hazards or natural disasters, etc.
3
What’s the difference between condo insurance and homeowners insurance?
The main difference between condo insurance and homeowners insurance is the extent of protection. The former offers coverage for the interior of the condo unit and/or its contents, while the latter offers coverage for the house, other structures, like boundary walls, the garage, etc., and/or its contents.
4
Are townhomes insured like condos?
Like condos, townhomes can also be insured with an insurance policy. However, note that the extent of coverage, price, inclusions and exclusions can differ between condo insurance and townhome insurance.
5
How to buy insurance for your condos online?
You can easily buy condo insurance online from your preferred insurer’s official website or application. You can visit the official HDFC ERGO website if you wish to purchase condo insurance online in India.
6
How to claim insurance for your condos?
To claim insurance for your condo, you will first need to register a claim with the insurer by contacting them via email, text or call, follow their further instructions and submit the necessary documents. After claim submission, your request will be verified and processed accordingly.
2023, 2024
2023, 2024
2023
2024
2024
