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HDFC ERGO Home Insurance

For a lot of us, our home is not only a place that radiates warmth and peace, but is also a big chunk of our investment. It is our private haven where we seek shelter after a tiring day and make happy memories with our family. But, to ensure this happiness goes a long way, you should be prepared to face any unexpected contingency like burglary or a natural disaster.

A comprehensive home insurance policy will guarantee that you are covered against major risks and offer you immense peace of mind.

HDFC Home Insurance Introduction

A joint venture between India’s top housing finance institution, HDFC Limited and ERGO International AG, HDFC ERGO was established in the year 2002. HDFC ERGO caters to the diverse insurance needs of customers and corporates alike by offering insurance products like motor, home, travel and personal accident insurance and also business, marine and liability assurance. As a testimony to the quality service that the company offers to its clients, HDFC ERGO has ISO certification for its claims services. The insurance company also has a national footprint and operates in 89 cities with over 109 branches.

A pioneer in home insurance services, HDFC ERGO home insurance policy will not only provide an all-round cover but also guarantee quality customer servicing, policy issuance and claims services.

Key Features and Benefits of HDFC ERGO Home Insurance

HDFC ERGO Home Insurance policy offers plethora of benefits that delight the policyholder. Here are some of the key highlights of HDFC ERGO home insurance policy that sets it a league apart from other policies available in the market.

  • The insurance policy covers all major risks like fire, lightning, explosion, flood, inundation, storm, strike & riot, burglary etc.
  • HDFC ERGO home insurance policy offers coverage for up to 5 years with a provision to increase the value of sum insured by 10% at the end of every year.
  • Policyholders can avail discounts up to 25% plus an additional 15%. Discount is offered if security systems are installed in the house.
  • HDFC ERGO offers the convenience to get an online policy instantly without any documentation.
  • A unique umbrella policy is offered for home owners seeking long term coverage.
  • Coverage is offered for fire and allied perils and burglary under one scheme. Structure and contents of the house is also covered.
  • Customers are offered the flexibility to choose between two customized schemes.

Coverage Offered by HDFC ERGO Home Insurance

The following risks are covered under HDFC ERGO home insurance policy.

  • Section 1 – Fire and Special Perils, Building and Contents
  • This section covers against natural disasters and fire related risks including explosion, lightning, riots & strikes, malicious damage, storm, cyclones, typhoon, flood and inundation, landslides etc., Protection against acts relating to terrorism can be availed as optional cover.

  • Section 2 – Burglary and Housebreaking
  • This section offers burglary cover for the contents of the house and this cannot be opted on a stand-alone basis.

Add-On Covers

Optional add-on covers can be opted for the following risks at an extra cost.

  • Terrorism and acts relating to terrorism
  • Earthquake (inbuilt)
  • Damage caused to the policyholder’s home or safe as a result of burglary and/or housebreaking or such attempts, subject to a maximum of 5% of the sum insured as under the burglary section.

HDFC ERGO Home Insurance Policy Exclusions

The following losses are not covered under HDFC ERGO home protection policy.

  • Loss or damage caused as a result of nuclear perils
  • Loss or damage due to war, invasion, hostilities etc.
  • Damage to the property caused because of pollution, contamination, willful misconduct or negligence or willful destruction of property
  • Damage due to wear and tear and gradual deterioration or such slowly developing flaws
  • Consequential losses are not covered
  • Damage or loss to jewelry, precious stones, documents and bullion will not be covered unless specifically declared.
  • Long term policy cannot be availed by co-operative societies for the entire building.

HDFC ERGO Home Insurance Eligibility

  • Any resident Indian who is the owner or a tenant of a property can purchase a home insurance policy. Multiyear policy cannot be availed by tenants.
  • Any authorized member of a housing society’s managing committee can buy a policy that covers common utilities and society buildings.
  • This insurance policy cannot be availed for building under construction.
  • Tenants can opt only for contents cover for fire and burglary.
  • This policy can be availed by individuals residing in flats or independent properties having external walls built of bricks, stones, concrete blocks, RBC, RCC, ACC tiles or roof.
  • Multiyear policy can be availed by house or flat owners where coverage for building (as per section 1 of policy cover) is mandatory.

HDFC ERGO Home Insurance Claims Process

  • If you have to file a claim, contact HDFC ERGO’s toll-free number to register a claim. The details about the nature and location of loss, approximate estimation of loss amount and policy number will be asked for.
  • FIR is necessary for claims related to strike, riot, terrorism, burglary, theft and malicious damage. It is not necessary for loss or damage caused by natural perils.
  • After a claim is filed, a surveyor will contact you in 48 hours. A claim for will be sent to the correspondence address within 7 working days and the claim will be process as soon as possible.

FAQs

  1. What type of properties are not covered under home insurance?

    HDFC ERGO does not offer insurance coverage for property under construction, land, shops, residence cum office properties and “kutcha” construction.

  2. How is the sum insured calculated?
    • Building reinstatement value basis which is calculated as cost of construction multiplied by the floor area.
    • Replacement value of insured items which are contents of the house other than personal effects.
    • For personal effects, the sum insured is market value of the effect which is replacement value minus the depreciation.
  3. On what factors does the premium depend on?

    The premium is based on the policy period, covers opted, add-on covers and the type of plan.

  4. I am planning to sell my house which I insured? What will happen to my policy?

    After the ownership transfer, the policy stands cancelled. However, the premium will be refunded for the balance insured period.

  5. What will be the commencement date for my online policy?

    The inception date will be 7 days after the payment of premium.

Related Home Insurance Articles

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HDFC Ergo Home Insurance Reviews

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  • 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? 0
    , mumbai
    Reviewed on Sep 14, 2019
  • HDFC Ergo
    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? 1
    , pune
    Reviewed on Jul 13, 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? 0
    , 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? 0
    , chennai
    Reviewed on Jun 09, 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? 0
    , 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? 0
    , ahmedabad
    Reviewed on Apr 29, 2019
  • HDFC Ergo Home Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    They have charged me a premium of 1.4L for the home insurance which is 26 years. I have received the insurance paper from HDFC ERGO. Actually the premium is on higher side when compared to other insurer but have no other go. The customer service is always good. They have given me better benefits but still looking for bit more.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 29, 2019
  • HDFC Ergo Home Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    I have insured my home with HDFC , home got insured at 174000 and the customer service is good , they help me through out the process . Only i got disappointed at one place they wrongly updated my name . My premium amount use to get auto debited from my account . It was average experience .
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 27, 2019
  • HDFC Ergo Home Insurance
    "Average Service"
    0.5 3.0/5 "Satisfactory"
    I had taken this insurance policy a while back and the premium had been paying on a Quarterly basis. The premium amount has been around 80,000 and the payment method has been simple. Their customer support has responsive and is helpful at times.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jan 26, 2019
  • HDFC Ergo Home Insurance
    "Should be transparent"
    0.5 2.0/5 "Expected more"
    I took home insurance from HDFC Ergo by paying the premium around Rs. 3 lakhs. In the beginning they were communicated the policy for whole 25 years, now they were telling its only for 5 years. If I want to continue then I need to renew it. The policy is good it covers all natural calamities, fire, rain etc. But they should be transparent in their communication.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 03, 2019
  • 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
  • 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? 2
    , ahmedabad
    Reviewed on Jun 05, 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
  • 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? 3
    , 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
  • 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
  • HDFC Ergo Home Insurance
    "Excellent Insurance policy"
    0.5 5.0/5 "Blown Away!"
    I have a home insurance with HDFC ERGO from last 6 months and it is a good insurance policy to use. My premium amount of Rs 556 gets auto deducted every month through ECS. Customer service is good and they are very helpful. I get a 100% coverage on this policy. I am also satisfied with the benefits of this policy.
    Was this review helpful? 3
    , bangalore
    Reviewed on Dec 05, 2017
  • HDFC Ergo Home Insurance
    "Good policy to hold"
    0.5 4.0/5 "Great!"
    I have a home insurance policy with HDFC ERGO GENERAL INSURANCE. I have been maintaining this home insurance for the last 6 years with HDFC ERGO GENERAL INSURANCE. This is a very good insurance policy to hold for our home as it pays the full amount of the claim.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 07, 2017
  • HDFC Ergo Home Insurance
    "home insurance"
    0.5 4.0/5 "Great!"
    HDFC ERGO home insurance is fine this insurance is very much helpful this was taken for a tenure of 10 years. In case of any unforesceen events the insurance company will pay the complete EMI amount and it is not required for me to make the payment . I have paid the amount of one lakh for this insurance.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 31, 2017
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