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Home Insurance Guide

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Home insurance forms an integral part of every homeowner's life. It works like a protective security shield which safeguards not only your house but also your personal possessions and assets from any potential risk or damage which may be caused by any manmade or natural causes. Also, banks and lending institutions now require all home loan applicants to provide some proof of having taken a home insurance policy for the property in question.

In India, there are several banks and financial institutions which offer a variety of home loans, each with a unique set of features and benefits to address different home financing needs. However, choosing which home loan is right for you, could be a difficult task. There’s much more to home insurance beyond the usual queries surrounding premium installments or tenure. That’s where this home insurance guide comes in handy. With this guide, you can lay to rest all those questions popping in your mind about home insurance policies, questions and details which you would otherwise be unaware of. Find all that and much more, pertaining to home insurance in this comprehensive guide and be on your way to choose the best home insurance deal available out there.

Hazard Insurance Vs Home Insurance

Giving a major chunk of your life’s earnings – if one investment calls for such an act, it is buying a roof over your head. Your home. Hence going a couple of extra mile to protect that asset from all possible threats (at least financially) is definitely worth it.

Questions to Ask When Getting Home Insurance

When it comes to home insurance, there are a million question which might arise in your mind. Here are a few commonly asked questions pertaining to home insurance, answered for you.

Types of Home Insurance in India

To suit the varied needs of every individual customer, leading home insurance companies and banks in India offer a broad range of home insurance policies.

What Does Home Insurance Cover in a Fire ?

The fire and allied perils section of a home insurance policy covers the structure of property or the contents of the home including personal belongings or both against any loss or damage caused by fire.

What is Covered By Renters Insurance ?

Renters insurance is not something many are aware of. After all, it is but a temporary arrangement until you buy your own home or have to shift due to some reason.

What is High Value Home Insurance ?

As the name suggests, High Value Home Insurance provides a comprehensive coverage for a property whose cost is substantially higher than the normal properties. A High Value Home Insurance covers the contents and structure of the home including personal property, fixtures and fittings, bank cards, contents of the house and other liabilities. 

What is Landlord Insurance Policy ?

Landlord Insurance is a special type of home insurance policy that covers the home owners from financial losses that they might incur with rental properties. This policy will cover standard fire and allied perils and also theft and malicious damage. 

Why do You Need Home Insurance ?

With silk-attired divinities marched through the lanes, and special delicacies, merrymaking, and the ceremonial gifting on such occasions, festivals bring out the most abstemious and extravagant facets of Indian culture.

Why Should You Have Home Insurance ?

If you are a house owner, no matter which corner of the world you may be living in, you automatically require home insurance. Just like you purchase insurance policies for the medical and financial well-being of your loved ones, you house, too, requires protection from various external perils.

How Much Home Insurance Do You Need ?

As a homeowner, you fully understand the significance of home insurance holds, not just in protecting your house but also your family. So, when it’s time to buy a new insurance policy, how does one decide on the amount of home insurance they require?

How to Buy Home Insurance Policy ?

Following the rising trend of e-shopping, now, insurance policies are the latest entrant of the online shopping realm. Quick, easy and hassle free, online purchase of insurance policies has eliminated the need for us to visit the insurer or fix appointments with agents or brokers to do the job for us. 

How to Claim Home Insurance ?

Unlike cars whose value depreciates from the moment you purchase them, houses generally increase in value over time. If you see from a future perspective, owning a property is an investment that will ensure your financial security in years to come. 

How to Claim Home Insurance for Water Damage ?

As a homeowner, it is your duty to understand the risks covered by your home insurance policy and also how to file a claim in case of damage and loss. Damage to properties caused by water is very common especially in apartments where there are shared pipes.

How to Compare Home Insurance Companies ?

When it comes to your loved ones, you wish to provide them with the best protection there is. From health insurance to life insurance, you want nothing but only the best for them. Just like your loved ones are invaluable, so is your home.

How to Find The Best Home Insurance Rates ?

Home insurance is very important as it protects your most valuable asset, your home, from unforeseen risks. However, owing to the premium costs and the intimidating insurance terms, many people do not take a home insurance policy at all.

How to Choose Home Insurance Coverage ?

Evading home insurance is not one of the best ways to save money. The risks and zero peace of mind are just not worth it. Comparison is the oldest and the best way ever to reduce chances missing a good deal.

Why Home Insurance Rates Increase ?

A new financial year! If nothing, you must have surely noticed a steady rise in your home insurance premiums. In fact, a humungous surge! You are not the only one. Statistics show the same. But this could also be because with the rising income, there are more items to buy cover for.

How to Get Home Insurance Cheaper ?

Uncertainties and surprises in life can either bring us joyous possibilities or test our ability to manage the crisis. While you cannot control the unpredictable part of your life, you can take positive steps to put yourself in a good position to manage the uncertainty.

Why is It Important to Have House Insurance ?

To realize the value of house insurance/home insurance, it is important to understand what house insurance is. Home insurance is a unique type of property insurance that covers your house from different kinds of dangers like accidents, perils damages and thefts.

What is Home Insurance Premium?

A comprehensive Home Insurance policy, provided by insurance companies, covers our house from every possible dangers, risks and threats. To cater to the varied needs of policyholders, insurance companies provide them with an option of choosing coverages.

What Are the Most Important Features of a Home Insurance Policy?

In the world of insurance, home insurance policies are often one of the most comprehensive ones. Typically a home insurance policy will provide all-round protection which covers you, your house, your family members and also any liability which may arise.

How Can I Save Money on My Home Insurance ?

Purchasing or constructing a house, though initially quite stressful, can be one of the best investment decisions one can make. House insurance is an automatic addition which is a necessity to protect your new house from any potential risks or dangers. 

How to Secure Your Home While Away on Vacation

It doesn't matter if you are planning to lay sprawled on a beach in one of the French Polynesian Island for a weekend or traversing the countryside on a road trip or enjoying a family get-together in your hometown. 

5 Myths About Home Insurance

Ironically, Home Insurance is one of the most common types of insurance, but also one of the most miscalculated. Majority of property holders reckon that the schemes they purchased will indemnify them against virtually every loss/ destruction incurred to the building and everything in it. 

Customer Reviews

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  • ICICI Lombard Home Insurance
    "Good Service provider"
    0.5 5.0/5 "Blown Away!"
    ICICI lombard gave me the medical coverage of Rs. 5 lakhs its entire family. The brand value is good to tie reputed hospital in area. Once I used the policy for dengue fever, they gave me cash less treatment for 10 days, they didn't charge any money. I just submitted medical card and id proof.
    Was this review helpful? 0
    , new delhi
    Reviewed on Nov 10, 2018
  • HDFC Ergo Home Insurance
    "I want to top up my Home loan to HDFC bank home loan departm"
    0.5 4.0/5 "Great!"
    Very good response by bank bazaar to connect HDFC bank home loan web site, very quick response by Bank Bazaar, Iam very happy to say if bank authorities will reply my application I am very thankful to you bank Bazaar.------------------------
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 06, 2018
  • HDFC Ergo Home Insurance
    "Good Protection for House"
    0.5 4.0/5 "Great!"
    While I was taking loan from HDFC bank they taken amount for the home insurance for the tenure period of five years. I think they gave me the cover for different calamities, glass, raining, fire etc. But I thought for long tenure but they gave minimal tenure period for the home protection.
    Was this review helpful? 1
    , chennai
    Reviewed on Nov 05, 2018
  • review Home Insurance
    "Safe and secured"
    0.5 4.0/5 "Great!"
    I have paid Rs. 50 to 60k premium for home insurance in SBI General for the tenure of 20 years, they give coverage for natural calamities. The documentation process was smooth and they gave me good policy coverage based on the home valuation.
    Was this review helpful? 0
    , pune
    Reviewed on Sep 29, 2018
  • review Home Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I've a home insurance from the New India Assurance. Considering the nominal premium I pay, the policy offers complete protection for the house and the entire appliances. It is a very useful policy in case of any mis happenings.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jul 28, 2018
  • HDFC Ergo Home Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have recently got a home insurance with HDFC ERGO one month back, i am satisfied with this insurance policy. I am not aware of the premium amount for this insurance policy. I was informed about the terms and conditions of this policy from the customer service team.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Jun 05, 2018
  • ICICI Lombard Home Insurance
    "Not satisfied"
    0.5 2.0/5 "Expected more"
    I have a home insurance with ICICI Lombard from last 16 years, they gave the soft copy and hard copy of the insurance on time. A premium of Rs 3130 has to be paid for this home insurance for 15 years. I am happy with the coverage value of this insurance policy.
    Was this review helpful? 0
    , coimbatore
    Reviewed on May 24, 2018
  • HDFC Ergo Home Insurance
    "Good policy to use"
    0.5 3.0/5 "Satisfactory"
    I need to pay the premium amount of Rs,10,000 every year to the home insurance policy . The HDFC ergo has gave me the home insurance policy around 2 years ago. The customer support service is good from the HDFC ergo and I pay the premium amount through ECS mode. This policy has the tenure of 10years.
    Was this review helpful? 0
    , jaipur
    Reviewed on May 03, 2018
  • review Home Insurance
    "Good policy to use"
    0.5 4.0/5 "Great!"
    I have insured my home with the SBI general insurance company. I have got this policy around 5 years ago. This policy has the tenure of 20yeras. I have paid Rs,55000 and it is valid for next 20years and I would say it is a good policy to use, but I never had any claim experience with this policy.
    Was this review helpful? 1
    , bangalore
    Reviewed on Apr 25, 2018
  • HDFC Ergo Home Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have a home insurance with HDFC ERGO from last 5 years, i have to make an one time payment for Rs 25000 for this home insurance. I find this insurance policy is best when compared to other insurance companies. I am happy with the coverage value of this insurance.
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 12, 2018
  • HDFC Ergo Home Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    HDFC ERGO GENERAL INSURANCE company has insured my home because I have got the Home loan from the HDFC limited. I have got the Home insurance policy around 7 months ago from the HDFC ERGO GENERAL INSURANCE company, This policy has the tenure of 25years.
    Was this review helpful? 0
    , bangalore
    Reviewed on Mar 27, 2018
  • review Home Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a home insurance with National insurance from last 7 years and it is a good insurance policy. I pay an insurance amount of Rs 7000-8000 for this home insurance. I do not have claim experience so far with this insurance. Customer service was good and they gave all the right information. I am happy with the coverage of this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 26, 2018
  • review Home Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    At that time loan disbursement the agent of DFHL cleared all the formalities in getting the home insurance from the CHOLAMANDALAM GENERAL INSURANCE company. I have paid Rs,1,00,000 to get the home insurance policy from the CHOLAMANDALAM GENERAL INSURANCE company.
    Was this review helpful? 2
    , mumbai
    Reviewed on Mar 16, 2018
  • ICICI Lombard Home Insurance
    "Home insurance with ICICI LOMBARD "
    0.5 4.0/5 "Great!"
    I have taken a home insurance from ICICI LOMBARD GENERAL INSURANCE and the premium amount is 550 for a month. This insurance policy covers the damage to the house, any robbery to the house.For natural calamities they wont provide any coverage.
    Was this review helpful? 2
    , vadodara
    Reviewed on Mar 12, 2018
  • HDFC Ergo Home Insurance
    "HDFC ERGO Home insurance"
    0.5 3.0/5 "Satisfactory"
    I have taken a home insurance from HDFC ERGO GENERAL INSURANCE. The premium amount is 1800 per month. They provide insurance for damage of the property. If i loss the job then, for 3 months then the EMI have not to be paid. If death happen to me then they will waive off the loan and the property documents will be returned no need to pay the loan.
    Was this review helpful? 0
    , chennai
    Reviewed on Mar 07, 2018
  • Bajaj Allianz Home Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have taken a Home insurance with Bajaj Allianz,The policy is for 15 years i paid a premium amount of 8,000.I have no claim experience with till date this was taken since 2013.The premium amount is registered for an auto debit.The customer service is good.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 02, 2018
  • review Home Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have insured my home from the NATIONAL INSURANCE company. I have paid Rs,6000 to get this policy . This policy has better plan benefits and the policy coverage with this policy. This policy has the life time tenure . I would say NATIONAL INSURANCE company gives good service to the customers.
    Was this review helpful? 1
    , bhimavaram
    Reviewed on Feb 12, 2018
  • review Home Insurance
    "Better policy to use"
    0.5 5.0/5 "Blown Away!"
    The SBI general insurance has offered me a home loan and they have insured my home as well. This home insurance has the tenure of 15years. The policy coverage and the plan options are good with the SBI general insurance company and I am satisfied getting the home insurance policy with the SBI.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 30, 2018
  • ICICI Lombard Home Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have the Home insurance policy around 10 months ago from ICICI LOMBARD GENERAL INSURANCE. I have paid Rs,48,000 to this home insurance policy . This policy covers the life time tenure. The plan options and the coverage is good with this policy.
    Was this review helpful? 4
    , salem
    Reviewed on Jan 17, 2018
  • review Home Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken a Home insurance iwth State bank of India.The premium amount is 36,000 paid for 15 years.The amount s registered for an auto debit payment.The insurance is taken in 2013 i closed to as its not required for me.The website is easy to navigate.
    Was this review helpful? 3
    , ahmedabad
    Reviewed on Dec 19, 2017
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