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What is Home Insurance?
Home insurance or property insurance secures the structure along with its content against unwanted events like fire, theft, natural calamities (storm, cyclone, etc.) or man-made activities (riots and terrorism). With the arrival of auspicious occasions, it is advisable for you to invest in a home insurance policy, as securing your assets is one of the best things to do during this festive time. An unfortunate incident can cause irreversible damage, leading to vulnerable financial losses; hence, it is wise to buy property insurance.
The Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for every insurer to offer a standard home insurance policy known as Bharat Griha Raksha from April 1, 2021. Bharat Griha Raksha provides coverage against loss, damage, or destruction of the home building and its contents due to unforeseen circumstances.
Why there is a Need for Home Insurance in India?
While home insurance is not mandatory in India, you may think of getting a home insurance plan depending upon the risk factors in India. For example, many regions are prone to natural calamities like floods, earthquakes and cyclones; do not forget those fire incidents and thefts/burglaries that happen here most of the times. Hence, buy a home insurance plan to get coverage under following circumstances:
- Fire Accidents
- Man-made hazards
- Thefts and burglaries
- Damage to belongings
- Natural calamities
HDFC ERGO home insurance policy having the below key features:
- Covers Home Structure: Upto ₹ 10 crore
- Covers Belongings: Upto ₹ 25 lakhs
- Discounts: Upto 45%* Off
- Additional Coverage: For 15 Types of Belongings and Perils
- Add-on Covers: 5
- Affordable Premiums
Purchasing a home (or renting it) may be expensive. But securing it is not. With reasonable premiums and discounts up to 45%^, there’s affordable protection for every kind of budget. - All-inclusive Home Protection
Our homes are vulnerable to natural calamities and various crimes. Natural disasters like earthquakes or floods, and even, burglary and theft may occur any time. Home insurance covers all these circumstances and more. - Safety For Your Belongings
If you thought home insurance only secured the structural aspects of your home, we have good news. These plans also cover your belongings, including expensive electronics, jewellery and more. - Flexible Choice Of Tenures
HDFC ERGO offers home insurance plans with a flexible choice of tenures. You can avail the policy for multiple years and thereby avoid hassle of renewing it annually. - Comprehensive Content Coverage
Nobody knows the true value of your belongings like you do. With comprehensive content coverage up to Rs. 25 lakhs, you can secure any of your belongings – no specifications or conditions attached. - Security For Owners and Tenants
Calamities come unannounced. Fortunately, home insurance makes you prepared for any situation. Whether you’re a homeowner or a tenant, you’ll find a home insurance policy that protects your safe space.
- Fire Accidents
A fire accident is quite traumatic and painful. But you can count on us to help you rebuild and restore your home the way it was. - Thefts And Burglaries
Burglars and thieves come uninvited to your home. Hence, it is better to secure your house with a home insurance policy to avoid financial losses. We cover losses from thefts and try to help you during your hard times. - Electrical Breakdown
You may take care of your electronic appliances and gadgets as much as you can. But sometimes they might breakdown. Worry not, we cover the sudden expenses incurred in case of electrical breakdowns. - Natural Calamities
Natural calamities like floods and earthquakes are beyond anyone’s control and within short span of time it can cause major damage to the home and its content. However, what’s in our control is to protect against potential loss of your home and its belongings with our home insurance policy. - Alternate Accommodation
When you are searching for a temporary roof over your head when your home is uninhabitable due to an insured peril, we are there to help. With our alternative accommodation clause**, we ensure that you have a temporary place to stay comfortably till your house is ready for accommodation again. - Accidental Damage
Put a seal of safety on expensive fittings and fixtures with our home insurance plan. We truly believe in retaining that you need to protect your precious belongings whether you’re a homeowner or a tenant. - Man-Made Hazards
A man-made hazard such as riots and terrorism can be just as damaging as a natural disaster. That’s why we’ve committed to doing all we can to help protect you from the financial burden in the aftermath.
- The Proud Home Owner
Few things in life match up to the joy of unlocking the door and taking that first step into a house you call your own. But with that joy also comes a nagging worry – “what if something happens to my home?”
Put that worry to rest with the Home Insurance Policy from HDFC ERGO. We protect your house and your belongings in case of natural calamities, man-made hazards, fires, thefts and more. - The Happy Renter
First off, congratulations if you’ve found the perfect home to rent in your city. It gives you all the perks of a fabulous house without any added responsibilities, doesn’t it? Well, that may be true, but the need for safety is universal, even if you’re a tenant.
Protect all your belongings and keep yourself safe from financial losses in case of natural disasters, burglaries or accidents with our Home Insurance Policy.