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What is Flat Insurance?

Investing in flat insurance or apartment insurance has become essential for those who live in flats. Flats offer a safe and secure living space for you and your family alongside some handy amenities and a close community. If you live or are planning to invest in one, you need to think about proper ways to keep it protected against unwanted damages or losses.

For instance, our homes and their contents are not immune to the destructive effects of natural disasters, man-made hazards, theft, etc. Such can cause a major financial disarray as you will have to spend your savings on repairs and replacements. However, with home insurance for flats (sometimes referred to as apartment insurance), you can stay protected against such losses with ease. Learn more about flat insurance by HDFC ERGO on this page.

Benefits of Flat/Apartment Insurance

Here are some of the key perks of investing in a flat insurance or apartment insurance policy;

Benefits	Details
All-round protection	With flat insurance/apartment insurance, you get protection against a variety of perils, such as fire accidents, theft, natural calamities, etc. Also, it not only covers the home structure but also its contents. What's more is that you can extend its coverage by opting for add-ons.
Coverage for repair & replacements	In case of damage or loss to your home structure and/or its contents, the flat insurance policy will cover the necessary repairs and replacements, ensuring everything goes back to normal as soon as possible.
Liability protection	In case of an accident that happens on your property, especially where someone gets hurt, the house insurance for flat will cover the arising liabilities.
Alternative accommodation	If your flat becomes uninhabitable due to an accident or any other effect of a covered peril, the flat insurance may cover the expenses related to temporary living arrangements so you can have a shelter above your head at all times.
Good for your pocket	Investing in home insurance for flats is really good for your pocket as it financially covers damages/losses caused to your home structure and/or its belongings. It lets you make the necessary repairs without draining your pocket.
Worry-free living	Knowing that your home structure and/or its contents are financially covered against damages or losses caused by a variety of perils at all times under flat/apartment property insurance, you can live worry-free.

Key Features of Flat/Apartment Insurance

The following are some of the most essential features of flat insurance or apartment insurance.

Key features	Details
Home structure cover	Coverage for home structure of up to INR 10 crore
Contents cover	Coverage for home contents for up to INR 50 lakhs
Deals	Up to 45% of discounts available
Add-ons	Choice of 5 add-on covers available
Additional coverage	The plan covers over 15 types of contents and perils

Best Flat Insurance Plans by HDFC ERGO

HDFC ERGO offers two types of flat insurance plans. Depending on your needs and criteria, you can pick between these two options;

Insurance for Flat Owners

Individuals who live in flats and own the property themselves can invest in the insurance for apartment owners/flat owners. With flat insurance for owners, you can choose to protect the home structure and/or its belongings against various perils.

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Flat Insurance for Tenants

Individuals who live in flats as renters can opt for flat insurance for tenants. With the renters insurance for apartments/flats, tenants can only choose to protect the contents of their flat against damages/losses. The flat contents insurance for tenants offers coverage against fire, theft, natural and man-made disasters, etc.

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Understanding Coverage Offered by HDFC ERGO’s Flat Insurance

What’s Covered?
What’s Not Covered?

The coverage under home and contents insurance apartment/flat generally includes the following;

Fire accidents

Damages or losses caused to the flat or its belongings by fire accidents are covered under flat insurance.

Burglary & Theft

If your flat has been a subject of theft or burglary, the flat insurance policy will cover the arising losses caused by such unfortunate events.

Electrical Breakdown

Unwanted expenses as a result of electrical breakdowns are handled by the insurance apt.

Natural Calamities

Natural disasters like floods, landslides, tornadoes, etc., are not easy to predict or avoid. Such events can cause major damage or loss to your home or its contents, which are taken care of under flat insurance.

Alternate Accommodation

The flat insurance may cover the expenses of temporary alternative accommodation in case your flat becomes unfit for living due to a covered peril.

Accidental Damage

In case of damage due to unintentional and unexpected external action, the contents & buildings insurance for flats will cover it.

Man-made hazards

Similar to natural disasters, man-made hazards, like riots, strikes, etc., pose a threat to your home and its contents. The flat insurance covers financial burdens arising from damages caused by such events.

Now that you have an idea of what the policy covers, here are some things that the flat insurance will not offer coverage for;

War

Damages or losses as a result of war, invasion, act of a foreign enemy, etc., are not covered under the tenants or landlord flat insurance policy.

Precious Collectibles

The flat insurance policy won’t cover losses arising as a result of damages to coins, works of art, stamps, etc.

Old Content

Old content, that is anything older than 10 years, remains excluded from the coverage scope of flat insurance.

Consequential Loss

Losses that don’t occur naturally from the breach in the normal run of events remain excluded from the coverage of the flat/apartment complex insurance policy.

Willful Misconduct

Damages or losses that are intentionally caused will not be covered under the flat/apartment building insurance.

Third party construction loss

Damage to your home caused by third-party construction is not covered.

Wear & Tear

Damages/losses caused as a result of normal wear & tear or renovation work are not covered under flat insurance.

Cost of Land

The flat insurance policy doesn’t offer coverage for the cost of land.

Under construction

The coverage of flat insurance policy is not available for under-construction properties.

Add-On Coverage Under Flat Insurance Plan

HDFC ERGO offers 5 practical add-ons with flat insurance to extend its range of coverage. The choices are;

Portable electronic equipment cover

The portable electronic equipment cover secures cameras, laptops and other valuable electronics. For example, while travelling, if you lose or damage your camera, the plan will cover the repair/replacement expenses as per the policy.

Public liability cover

This add-on offers a sum insured of up to INR 50 lakhs in the event a third party suffers injury or damage on account of your flat. Find the best renters insurance for apartments/flats on HDFC ERGO.

Jewellery & valuables cover

This add-on helps secure your jewellery and other valuables like paintings, watches, etc. It offers a sum assured of up to 20% of the contents’ value in the event they are stolen or damaged.

Pedal cycle cover

You can include this add-on with your flat insurance if you want to secure your bicycle or exercise bike against damage/loss caused by perils like theft, accidents, etc. Arising third-party liabilities from the insured bicycle in an accident are also covered.

Terrorism cover

This add-on secures your flat from damages resulting from a direct terrorist attack or due to defensive countermeasures taken by security personnel.

How to Buy Insurance for your Flats or Apartments from HDFC ERGO

You can buy apartment insurance/flat insurance offline or online. Here’s how to buy flat insurance from HDFC ERGO online;

1. Visit the HDFC ERGO flat insurance page,

2. Click “Buy Now” and pick between flat insurance for tenant or homeowner,

3. Select what you want to cover, i.e., home structure and/or belongings, and enter your contact details to proceed.

4. Submit the property details and choose the desired sum insured, plan tenure, add-ons, etc. (as needed),

5. Enter a few additional information and complete the online payment for the flat/apartment home insurance.

How to Renew Insurance for your Flats or Apartments from HDFC ERGO

If you want to enjoy continued coverage, make sure to renew your flat insurance on time. Here’s how to renew flat insurance on HDFC ERGO online;

1. Head over to the HDFC ERGO official website,

2. Go to “Renew” and enter the existing flat insurance policy number.

3. Choose the existing plan for renewal,

4. Make necessary adjustments (if needed) before proceeding.

5. Pay the flat/apartment insurance price online to complete it.

How to Renew Insurance for your Flats or Apartments from HDFC ERGO

If you want to enjoy continued coverage, make sure to renew your flat insurance on time. Here’s how to renew flat insurance on HDFC ERGO online;

1. Head over to the HDFC ERGO official website,

2. Go to “Renew” and enter the existing flat insurance policy number.

3. Choose the existing plan for renewal,

4. Make necessary adjustments (if needed) before proceeding.

5. Pay the flat/apartment insurance price online to complete it.

Why do I need Flat Insurance?

Our home is our safe space where we live with our loved ones. Just like how we protect our family from any harm, securing our beloved home against losses and damages from unforeseen events is also our responsibility. Flats/apartments are expensive to own and maintain. So, fixing damages that your home sustains due to a peril can be hard on the pocket. In addition, the contents of our home are also not immune to such damage. So, to financially secure your home structure and/or its contents, you need to invest in house insurance for apartment/flat. It eases the blow on your personal savings and helps make the necessary repairs/replacements in a fast and easy manner. It doesn’t matter whether you own your flat or are renting it; you can find applicable home insurance plans for it on HDFC ERGO. Even if you are living alone or are single, you should consider investing in individual flat insurance.

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Frequently Asked Questions on Flat Insurance

1. What does flat insurance cover?

Flat insurance generally covers the home structure and/or the belongings. It offers coverage against damages/losses caused by fire accidents, theft and burglaries, electrical breakdowns, natural and man-made calamities, accidental damages, etc. Note that tenants can get flat contents insurance only.

2. How do I insure my flat?

You can buy insurance for your flat online or offline from your preferred insurer. You can check out the deals HDFC ERGO has on flat insurance online and buy a plan in just a few clicks.

3. Does Flats have insurance?

Yes. You can look for home insurance for the flat or apartment you are living in. Both homeowners and renters can buy flat insurance.

4. How much renters insurance do most apartments require?

Tenants can buy affordable renters insurance for apartments/flats from the insurer of their choice. However, unlike homeowners, a tenant can get only apartment/flat contents insurance and not the insurance home structure. Now, how much renters insurance is required typically depends on the renter and the home contents.

5. How much does it cost to insure an apartment?

The apartment insurance cost or flat insurance cost depends on various things, such as the age and condition of the property, the type of coverage, the sum insured, the property location, etc. Visit HDFC ERGO for a quick flat insurance quote.