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Why Do You Need Homeowner Insurance This Festive Season?

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. Since this is a nation of umpteen faiths and regions, with diverse harvest periods and calendars based on the sun, the moon, or both, there is almost always something festive going on in this country. The intricate displays and ceremonies; watching the hoi polloi at shrines, churches and mosques; and being one of such crowd is a highlight of being Indian and living Indian.

Now what has all this to do with Home Insurance?

Plenty. It is easy to get carried away in festivities, whether it is celebrated in your own house or in your neighborhood. And most of the catastrophes (at least manmade ones) occur during this time. This is not to put a dampener on the special occasions. But research has proved that festivities are the busiest times for housebreakers as most people leave the house empty to go on vacations, gatherings or parties, not to mention the increased number of mishaps due to firecrackers, risks due to intoxication and more. This is a disheartening thought. But not to worry, all you need to do is purchase a decent homeowner insurance and take some precautions. You can still enjoy to the maximum and be at peace.

Do You have to Have Homeowners Insurance?

  1. Breaking & Entering: There are plenty of items that make the house a home, including the people residing in it as well as everything you bought to make it cozy and livable. And electronic gadgets, two wheelers, furniture etc. top the felonious wish list effortlessly. When you get your house insured, you can also check if all these items in the cover to ensure that home contents too are protected.
  2. Stealing from cars/ bikes : Burglars frequently linger around car garages at apartments. If you are out for a stupendous shopping spree, stuff as much as possible into the boot of your car. It is also better to have burglar alarms fixed in the car to prevent theft of car accessories like stereo. Though an all-inclusive auto insurance plan might offer cover, a house insurance scheme with cover for individual belongings cover (inside as well as outside home) is found to be better.
  3. Fire : Fairy illuminations, fire crackers and torches are a staple during any Indian festival. And while we agree that it is so much fun, they can be quite perilous if you don’t handle them properly. Among the most common reasons of fires are electrical circuit failures with decorative lights and burdened power points and candles that can easily topple over and set fire to curtains or something. Fires starting from banquet cooking is also a chief cause. Most home insurance policies offer cover against fire (on first loss basis). But it would be great if you can check and see everything is turned off before you hit the sack.
  4. Bad weather conditions: Like it or not, home takes the brunt of the ruthlessness of changing climates and insurance firms receive numerous claims related to that. If there is a cover, you will receive it. But it is still essential that you maintain your dwelling well. Hence fixing that jammed window, getting a plumber to look at that clogged drainage and protecting the walls from heavy monsoons dampening them simply cannot wait another week.
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Customer Reviews

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  • HDFC Ergo Home Insurance
    "Excellent policy"
    0.5 4.0/5 "Great!"
    I live in Jammu , so my area falls in a earth quake zone hence I bought a home insurance policy from HDFC Ergo. The executive has approached me and they will give me a good services. I have purchased the policy around 2 years ago. I pay the premium through auto deduction and this policy covers for 3 years.
    Was this review helpful? 0
    , jammu
    Reviewed on Mar 05, 2020
  • HDFC Ergo
    HDFC Ergo Home Insurance
    "Good insurance plan"
    0.5 5.0/5 "Blown Away!"
    In HDFC bank, they have forced me to take the home insurance from HDFC Ergo when i availed the home also. My home is getting insured for the tenure period of 5 years. I am paying the premium amount of Rs. 500 on a monthly basis. They are giving me a coverage value which is equal to my loan amount. I pay the premium through ECS option.
    Was this review helpful? 1
    , rajkot
    Reviewed on Mar 05, 2020
  • ICICI Lombard Home Insurance
    "Good Insurance plan"
    0.5 5.0/5 "Blown Away!"
    When i took the home loan from Development Credit bank they have recommended me to take the home insurance from ICICI Lombard. When i had some issues, the customer care people are responding well. They have given the claim details and boucher to the customer. I have paid the premium amount of Rs. 40000 which covers for 5 years.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Mar 02, 2020
  • HDFC Ergo Home Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    When i have taken the home loan from City union bank, they have provided me a home insurance from HDFC Ergo. I have paid the premium amount of Rs. 785 which covers for 1 year and i need to renew the policy till the home loan get over. They are giving me a coverage value of Rs. 20 lakhs. I have not claimed anything from this policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 21, 2020
  • review Home Insurance
    "Rules are good in SBI home insurance"
    0.5 3.0/5 "Satisfactory"
    When i purchased my home loan from SBI, they have provided me a home insurance from SBI General Insurance. I have paid the premium amount of Rs. 5000 for the next 3 years and this policy only covers for the property. This like a EMI insurance. They gave me coverage according to the EMI amount. Once the home loan is over, the policy will get lapsed. They are not taking care of the customer in SBI.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Jan 25, 2020
  • ICICI Lombard Home Insurance
    "Unhappy"
    0.5 1.0/5 "Really Bad"
    I am not satisfied with ICICI Lombard for home insurance because the premium is very higher and the claim was not good. I will not recommend and would suggest to go with LIC housing. The premium is 1.30L for 7 years where LIC is charging 60k for 12 years.
    Was this review helpful? 14
    , hyderabad
    Reviewed on Sep 24, 2019
  • HDFC Ergo Home Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I got a home insurance from HDFC ERGO recently and they have been charging be monthly 506rupees which is reasonable and the payment mode is ECS. They have provided me an insurance for 5 years. I have no issues with the service. I don't have claim experience.
    Was this review helpful? 6
    , mumbai
    Reviewed on Sep 14, 2019
  • review Home Insurance
    "Recommendable policy"
    0.5 5.0/5 "Blown Away!"
    When i taken the home loan, they have provided me a home insurance with Reliance. They have provided me a coverage value of Rs. 70 lakhs which is my loan amount. In one shot, i have paid the amount of Rs. 1 lakhs which covers for 15 years. It covers only for the house.
    Was this review helpful? 4
    , bangalore
    Reviewed on Jul 26, 2019
  • Bajaj Allianz Home Insurance
    "Required policy"
    0.5 5.0/5 "Blown Away!"
    It was very fast and i didn't run for any kind of documentation part. Since i took the home loan from Bajaj Finance, they have provided me a home insurance policy with them. I'm not sure about the premium amount. This policy has a coverage of 100% including the hold things.
    Was this review helpful? 5
    , secunderabad
    Reviewed on Jul 24, 2019
  • HDFC Ergo Home Insurance
    "NOT SATISFIED"
    0.5 1.0/5 "Really Bad"
    I have a home insurance with HDFC ERGO GENERAL INSURANCE where the premium paid was 2-3K where the duration of the policy is was 5years but i have canceled the policy within 1 month. The documents submitted was basic documents, but i am not satisfied with the policy.
    Was this review helpful? 6
    , pune
    Reviewed on Jul 13, 2019
  • review Home Insurance
    "Very good policy"
    0.5 5.0/5 "Blown Away!"
    When i taken my home loan, they have given me a home insurance along with the home loan. Since its a compulsory policy, i have purchased the loan. I'm not sure about the insured period. Overall, I'm satisfied with the policy. This policy is covered 100% for the home not for the products.
    Was this review helpful? 3
    , chennai
    Reviewed on Jun 24, 2019
  • Bajaj Allianz Home Insurance
    "Satisfactory"
    0.5 4.0/5 "Great!"
    Its having higer coverage of 2L and the policy is valid for 25 years. Bajaj Allianz has charged me 25K yearly and the benefits are good. It was provided along with my home loan. They have provided me a good service. The documents has been provided to me on time.
    Was this review helpful? 1
    , vadodara
    Reviewed on Jun 22, 2019
  • HDFC Ergo Home Insurance
    "Excellent service"
    0.5 4.0/5 "Great!"
    While i have taken my home loan from HDFC,LTD they have asked me to take a house insurance policy. I pay the premium amount nominal which is applicable till my loan tenure period. It use to get auto debited from my account. They have given me a coverage upto Rs. 5 lakhs for 10 years .
    Was this review helpful? 3
    , ahmedabad
    Reviewed on Jun 11, 2019
  • HDFC Ergo Home Insurance
    "Complicated policy"
    0.5 4.0/5 "Great!"
    While i have taken my home loan from HDFC, they have asked me to take a life insurance policy. I pay the premium amount of Rs. 50000 which is applicable till my loan tenure period. They are deducting the insurance premium amount from loan premium amount. They have given me a coverage upto Rs. 4 lakhs.
    Was this review helpful? 4
    , chennai
    Reviewed on Jun 09, 2019
  • review Home Insurance
    "Better"
    0.5 4.0/5 "Great!"
    I got a home insurance from SBI General Insurance and they have charged 50K for the insurance which was little bit higher when compared to others. They have not sent the insurance paper yet. The policy is valid for 15 years. It covers fire accidents, natural calamities and everything.
    Was this review helpful? 6
    , hyderabad
    Reviewed on Jun 07, 2019
  • review Home Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    I have taken Health Insurance through Royal Sundaram through Online .I am paying a premium of Rs. 15000 it is a 1year nee to renew each year ,I am paying through by online ,This insurance was referred by Citi Bank .I have not faced any issues so far on using this policy .There are cashless facility as well.
    Was this review helpful? 1
    , bangalore
    Reviewed on May 31, 2019
  • ICICI Lombard Home Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    I have taken Health insurance policy since got call from ICICI Lombard hence taken the policy.This is a 1year policy need to renew the policy every year ,There is cashless facility on this policy ,premium is very nominal it is Rs.13000 paying through auto debit .I have got the policy documents on time ,Submitted documents also and not gone for any claim so far.
    Was this review helpful? 1
    , thane
    Reviewed on May 28, 2019
  • HDFC Ergo Home Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I got a Home insurance from HDFC ERGO while taking the home loan. The policy is valid for 5years and the premium is reasonable. They have charged me 69K and have received the soft copy of the insurance. The policy coverage is good and it includes natural calamities and fire accident.
    Was this review helpful? 2
    , pune
    Reviewed on Apr 30, 2019
  • HDFC Ergo Home Insurance
    "Good. Can work on the charges"
    0.5 4.0/5 "Great!"
    HDFC Ergo home insurance policy is good and there is a coverage for five years, and I can renew it if I wish too. I also have the option to continue till the loan gets completed. The total amount is of 1.11 Lakhs. I need to pay 700rs on a monthly basis. I suggest that the charges should be on a lower side.
    Was this review helpful? 3
    , ahmedabad
    Reviewed on Apr 29, 2019
  • Bharti Axa Home Insurance
    " Premium should be economical"
    0.5 4.0/5 "Great!"
    I paid premium of Rs.1.5 lakh to Bharti Axa for home insurance it has the tenure upto loan end peroid of 20 years. I believe its covers all natural calamities like earth quake, the premium is huge as compared to others. I got the policy paper through PNB Housing,
    Was this review helpful? 1
    , chennai
    Reviewed on Apr 12, 2019
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