Home insurance is a type of property insurance policy designed to protect the insured's home against any unforeseen events and allow the insured to live a stress free & peaceful life.

Benefits of buying a home insurance policy are:

1. Provides the insured completed protection to the property and/ or contents under a single policy
2. Covers the house against loss due to fire, burglary, natural calamities, unnatural calamities, etc.
3. Cover for jewelry, valuables, artwork, etc.
4. Additional cover for rent for alternate accommodation.
5. Secure your assets against unfortunate event or mishappening.

People who can buy a home insurance policy:

1. Any owner of a flat/ apartment/ independent building/ row house which is not a kutcha construction and less than 30yrs can purchase a home insurance policy to protect the building and/or content against loss due to fire, natural/ un-natural calamities, etc.
2. Any tenant of a residential structure or owner occupant can Insured his/ her contents (furniture, household items, etc) and valuables in the flat/ independent building/ apartment occupied by them for residential purpose.

Coverage offered under a home insurance policy are:

Fire & special perils:

Covers the insured' home against Below given perils like:

1. Fire
2. Natural calamities: storm, hurricane, tornado, earthquake, lightning, inundation, landslide, rockslide, etc.
3. Man made causes: explosions, implosions, riots, strike, malicious damage
4. Terrorist attack
5. Damage by aircraft, missile tests leading to damage, leakage, etc.
6. Burglary, theft, larceny & robbery.

Coverages provides under the home insurance are:

Section 1 - loss of or damage to the building and contents (excluding money and valuables) Wilst contained in the insured premises by specified perils.

Section 2 - loss of or damage to the contents (excluding money and valuables) whilst contained in the insured premises by robbery, burglary, housebreaking including larceny and theft.

Section 3 - loss of or damage to the Jewelery and valuables caused by accident or misfortune whilst anywhere in india.

Section 4 - loss of or damage to the fixed Palte glass by accidental means.

Section 5 - Unforseen and sudden physical damage caused by mechanical or electrical breakdowns of domestic appliances.

Section 6 - loss or damage to the television Appartus including vcr/ dvd player/ woofer/ sound systems, etc.

Section 7 - a loss of or damage to pedal cycles and legal liability to the third parties

Section 8 - loss of or damage to the personal baggage due to accident or Misfirtune whilst Travelling anywhere in india

Section 9 - personal accident insurance for insured his spouse and children in the event of accident death, permanent total disability, permanent partial disability, etc.

Section 10 - legal liability to the third party (person & property) and legal liability as per w.C. Act/common law towards employees.

Exclusions under a home insurance policy:

The policy does not cover loss or damage to the property by or due to or arising from:

• Misrepresentation, misdescription, or non-disclosure of any material information.
• Damage which is pre-existing in nature (applicable to contents and building).
• Manufacturing defects in electrical, mechanical, and electronic items.
• Consequential loss, wear & tear, depreciation
• Damage by war, nuclear war, invasion, etc.
• Negligent usage, excessive work pressure leading to damage.
• Loss, destruction or damage caused to any electronic equipment due to over-running or excessive pressure