Knowledge Centre

Home Insurance for Monsoon

Worried, if this monsoon season your home is protected? Just like you take precautions to ensure you stay safe by carrying along an umbrella similarly, your home also needs an umbrella to shield it against the natural calamities that monsoon brings along every year. Your home needs protection too from floods, storms, cyclones, earthquakes and the usual heavy rain showers. To ensure that your home that protects you from all these calamities stays protected, buy a Home Insurance to safeguard against various threats that Monsoon may pose.

Reasons to buy Home Insurance for Monsoon related calamities with HDFC ERGO

Short Stay? Long Benefits
Short Stay? Long Benefits
Worried your home insurance will go waste? Our home insurance plans offers you the flexibility of choosing the tenure. Our Home insurance solutions tenure range from 1 year and goes upto 5 years.
Enjoy upto 45% Discounts
Enjoy upto *45% Discounts
Now secure your dream home with HDFC ERGO renter’s home insurance, you get numerous discounts – security discount, salaried discount, intercom discount, long-term discount, etc.
Contents covered upto Rs. 25 lakhs
Contents covered upto Rs. 25 lakhs
Things you own aren’t just material property. They carry memories and irreplaceable sentimental value. HDFC ERGO home insurance plans give you the option to cover all your possessions ( upto Rs. 25 lakhs) without sharing any specified list of home belongings.
Portable Electronics Covered
Portable Electronics Covered
Ever wondered what life would like without your electronic gadgets? We wouldn’t want you to go down that lane. Whether it is your laptop with decades of memories and valuable information or any other electronic equipment,

What’s Included in Home Insurance for Monsoon?

Floor Damage
Floor Damage

Damage done to the flooring because of water entering your home

 

Short circuit
Short circuit

Any damage because of a short circuit caused by water leakage

 

Furniture Damage
Furniture Damage

Damage to furniture, if your insurance plan mentions personal belongings

 

Structural Damage
Structural Damage

Damage done to walls, ranging from the structure to the paint

Water Leakage
Water Leakage

Water leaking from the roof. And not just leakage through cracks and joints, but also structural damage, as stagnant water on the roof can weaken

Valuables
Valuables

Coverage against damage to the valuables inside the house

Floods
Floods

Damage resulting from any flooding that follows is covered under it

Restoration
Restoration

Cost of repair and replacement of electronic and household appliances

Replacement
Replacement

Alternate accommodation while your home is being restored after the lightning strike

Fire
Fire

Coverage for the structure of the house as well as electrical equipment and other fixtures and fittings

Electrical and mechanical breakdown
Electrical and mechanical breakdown

Damage caused by power surges, short circuit or fire caused by lightning

What’s Not Included?

Wilful negligence
Wilful negligence

The insurance doesn’t cover damages caused due to wilful negligence of the owners, since the item is insured. Damages caused due to negligence of owners, like mishandling or misuse are not covered

cov-acc
Precious items

Bullions, coins, artworks etc

Items more than 10 year old
Items more than 10 year old

For televisions that are more than 365 days old from the date of purchase, the insurance is not valid, as the policy needs to be taken within the first year of purchase

Other reasons
Other reasons

If the fire is caused by something other than lightning

Non-disclosure of fault
Non-disclosure of fault

At the time of taking the policy, the insured should provide correct information about the product in a transparent manner. In case any important information is not provided or wilfully hidden, it will not be covered by the insurance

Wilful destruction
Wilful destruction

Damages caused wilfully by the owners are not covered under this policy. Breaking or damaging the parts accidently, like dropping them on the floor, are not covered

How is the Sum Insured & premium amount calculated for a Home Insurance policy?

The premium calculator for home insurance works on the basis of many factors and guidelines laid by the Underwriting team. You can buy a home insurance for your old home and also for a newly bought residence. Many home loan givers mandates home insurance along with home loan where Sum insured could be the loan amount or the reinstatement value of the house. Typically, Sum insured is taken for the reinstatement value (cost of reconstruction of the house). However, there are products available in the market like the one with HDFC ERGO, which also provides coverage for the market value.

Reasons to buy Home Insurance for Monsoon Calamities

Enjoy upto *45% Discounts
Now, secure your dream home with HDFC ERGO renter’s home insurance, you get numerous discounts – security discount, salaried discount, intercom discount, long-term discount, etc.
Covers structure and content against natural calamities
We cover your home against natural calamities like earthquake, flood, storm, cyclone and landslides.
Contents covered upto Rs. 25 lakhs
Things you own aren’t just material property. They carry memories and irreplaceable sentimental value. HDFC ERGO home insurance plans give you the option to cover all your possessions ( upto Rs. 25 lakhs) without sharing any specified list of home belongings.

What are the factors that affect the premium for home insurance?

Your home insurers get your home back to how it was in case of any damage or loss happening due to fire or theft. However, there are several factors that determine the premium for home insurance. The below mentioned factors are a few determinants for deciding the premium.

1. Amount of coverage: Higher the coverage or Sum Insured higher the premium and vice versa. Home insurance premium for a flat worth 5 Cr. would definitely incur high premium as compared to a 1Cr.

2. Location: If your residence is in a low lying area and probable to flood risks, then your premium might be a bit high. Your residence location plays an important role in deciding premium. If your residence is located at a prime location then your structure value would be high leading to high premium.

3. Security Arrangements: If your home or apartment is located at a safe location or has all the modern security equipment there are low chances of theft incidents. If you have installed home safety gadgets in your home, then the chances of burglary or theft in your house reduce. Due to this decreased risk, your home-insured premium will also reduce.

4. Content Value: If your house contains a wide range of expensive furniture and electronics then your premium may get a little high. Additionally, if you choose to cover the jewellery and valuables then you can cover that too with an additional premium.

Top 4 Reasons to buy health insurance plan online

Convenience
Gone are the days when you wait for someone to come and explain the policy to make a buying decision. With digital trends taking over the world, buying a health insurance plan from anywhere across the globe helps you in saving time, energy and effort.
Secured payment modes
You don’t have to pay premiums in cash or cheque! Simply use your credit/debit card or net banking services to make payments online throught multiple secured payment modes.
Instant policy issuance
You no longer have to wait for the courier dispatch to arrive with policy documents. Your policy PDF copy comes right into your mail box and you get your policy within a few seconds.
Instant premium calculation
You can instantly calculate premium, add or remove members, customise plans and check coverage online at your fingertips to buy a health insurance plan online.

Add-on Covers for Home Insurance - Monsoon Coverage

Add on covers are designed to help you in additional areas, which your home insurance plan may not cover. Any home insurance add-on you choose should be applicable to your needs and circumstances. You need to pay an additional premium, but it is definitely worth the cost. Here are some home-insurance add-ons you should consider while purchasing a home cover.

1. Portable Electronic Equipment Cover: Are you a gadget freak and own expensive gadgets or appliances? Then this cover is necessary in your home insurance portfolio. With this add on over you can secure your electronic gadgets even when you are on the move. To get into the details, portable electronic items such laptop, camera, musical equipment’s, sports equipment etc. are covered under this add on cover.

2. Jewellery & Valuables Cover: If you own precious jewellery or valuables and more importantly if you keep them at home, you are at a risk! The confines of your home are not safe enough and a theft or burglary could end up in you incurring major losses. However, do not lose sleep over this because the jewellery and valuables add on cover is the answer to your worries.

3. Pedal Cycle Cover: Love going on cycling expeditions or sweating it out on your static exercise cycle? Then this add on cover will ensure you continue your cycling trysts without any worries of any third party liability related to your beloved pedal cycle or damage to your trusted exercise cycle. So keep calm and cycle on.

4. Terrorism Cover:Terrorism is increasingly becoming a threat that looms large over the world. Many homes have been shattered due to terrorist attacks and we understand the pain one would endure in being in an unfortunate situation as this. This add-on cover can mitigate such damages and provide coverage in case your home structure or contents get destroyed due to a terrorist act or attack.

How to safeguard your home during monsoons?

Proactive Check

Keep a constant check on roofs and terraces and repair any cracks immediately in preparation for monsoons.

Waterproofing Helps

Waterproofing of terraces will go a long way in maintaining your home and your mental peace.

Well Polished Floords

Monsoons cause wooden doors and floors to swell up, so keep them well polished and dry.

Paint it up

5. Iron grills tend to rust during monsoons. Ensure that these are painted before the onset of rains and are cleaned regularly.

Keep the freshness intact

4. Moisture build up in the house not only causes an unpleasant musty odour in the house, but also damages clothes and leather products irreparably. Try placing camphor, neem leaves or off-the-shelf dehumidifiers. This will protect your clothes and prevent peeling of bags and footwear. A dehumidifier in the house will absorb extra moisture and keep the house fresh.

Awards & Recognition

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