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    • Experts Says That Insurers Should Oblige to Claims Made Due To A Natural Calamity

      Cyclone Vardah has caused significant damage to buildings, automobiles, and businesses in Chennai. Insurance companies are now flooded with numerous insurance claims from policyholders who had taken home insurance hoping to protect their house in case of eventuality. When insurance companies say that they protect your home and cover for any expenses caused due to a natural calamity, they do not mention in specific that they do not cover damages caused due to rainfall. It is mostly found in the exclusions list in the insurance documents written in small letters. This christmas is not a time to celebrate for Chennai residents as rain has caused severe damage to their properties. Puneet Sahni, Head Product Development in SBI Insurance Company stated that normally damages caused by rainfall is not covered by insurance companies however cyclone Vardah has caused an havoc in Chennai and insurance companies should act morally and accept claims made.

      2 January 2017

    • Home Insurance one of the least owned policies in the country

      Although India has seen a whopping $9.8 billion loss due to natural disasters like earthquakes, cyclones, floods, tsunamis, and storm surges, home insurance is still one of the least owned insurance policies in the country.

      Pointing out the same, a media house recently reported that there are actually plenty of advantages to owning a home insurance policy.

      In the report, the media house listed out the various covers a home insurance policy would provide the policyholders. Among the many things a home insurance covers, the main ones include protection against natural disasters, man-made disasters, against terror attacks and riots, and also provides coverage against the contents of a house.

      29 November 2016

    • Must have insurance policies for newly-weds

      A young newly-married individual usually has a long work life ahead of him/her, and subsequently many hurdles to cross before he/she creates wealth and financial securities for the family. Listed below are some of the essential insurance products that he/she must purchase in order to secure the family’s savings:

      • Life term insurance - A term insurance plan is a low-cost policy that is ideal for a person with a family. There is no investment component involved in the coverage. One can look for a cover that is 20 times his/her current annual income for securing his/her long-term financial needs.
      • Health insurance plan - Hospitalisation expenses today are highly steep; hence, it is inevitable that one is in possession of a suitable health insurance policy. A cover provided by the employer may not be sufficient, as this would cease to exist when one leaves his/her job. To ensure that the cost of premium is low, it is advisable to purchase a family floater plan.
      • Critical Plan - A Critical Illness Insurance plan will protect the policyholder upon the diagnosis of a specified critical illness. The insurance provides the beneficiary a lump sum amount for the treatment of the disease.
      • Home Insurance - A home insurance policy will provide coverage for damage to the structure of the house from situations like fire. It also protects the contents of the home. The house owner or a tenant can purchase this policy.

      11 November 2016

    • Insurance Market Experiences A Boom Following 2015 Chennai Floods

      Following the widespread destruction caused by the Chennai floods last year, the insurance sector has registered a significant 40% to 50% growth in policy sales not only in Chennai but also its surrounding areas as residents of the city becoming increasingly aware towards protection of their assets. According to reports, insurance claims following the floods touched Rs 5,000 crore.

      The floods caused losses amounting to more than $2 billion, out of which the insured losses amounted to $0.8 billion. Analysis done by Swiss Re indicated that a major portion of the losses were reported from commercial entities, given that Chennai houses a large number of manufacturing companies, especially pertaining to the automotive industry. The boom in the insurance sector can primarily be attributed to customers opting for motor insurance and home insurance while companies are opting for fire insurance policies, motor insurance and machinery insurance.

      3 October 2016

    • Terrorist Attack Cover: An Add-on to Property Insurance Policy

      Anticipating the increasing risk of terror attacks, insurance analysts suggest that it is wise on the part of customers to cover social events, public gatherings and the like. However, insurance companies follow certain measures for taking such requests into consideration. First and foremost being the assessment of risk factor.

      Generally, individuals who have properties near to the most vulnerable locations should take insurance covers for terrorist attacks. These policies can be opted as an enhancement to their existing property insurance. Even the cost of terrorism cover is significantly low when compared to other insurance products.

      30 September 2016

    • Chennai Floods Leads to Increase in Home Insurance Purchase

      The Chennai floods that ravaged the city the previous year have led to a spike in the number of home insurance enquiries.

      Insurers have reported an increase in the number of home insurance policies being sold in the city and its neighbouring areas, with sales going up by 30%.

      The floods that hit Chennai in November and December of 2015 resulted in damage worth Rs.14,000 crore, with about 35% of this being insured losses.

      The need for home insurance and its benefits have been publicized after the floods, with leading insurers carrying out awareness campaigns in the aftermath of the flood.

      A mere fraction of the claims paid out after the floods were for insured homes, but the renewed public interest appears to be changing the trend as homeowners opt for comprehensive coverage.

      12 September 2016

    • Unclaimed Insurance Amounting to Over Rs.11,000 Crore

      According to reports, over Rs.11,000 crore are currently being held by insurance companies in the way of unclaimed amounts.

      Parliament was informed of this in the recent session by the Minister of State for Finance. The Life Insurance Corporation of India (LIC) alone has over Rs.5,934 crore in unclaimed amounts as on March 31, 2016.

      The large amount still unclaimed by policyholders has been described as something of a concern, with this amount accumulated over a period of time.

      The majority of the unclaimed amount stems from the life insurance and home insurance sectors arising out of death benefit, maturity claim, survival benefit etc.

      Premiums that have not been claimed for over 6 months are also included in this category.

      10 September 2016

    • Listing Insurance Companies to become Mandatory

      IRDAI, the insurance regulator, will be releasing an exposure draft soon in an effort to make it compulsory for insurance companies to be listed. A discussion paper on the issue has already been released. The purpose of this paper was to emphasize the need for listing firms, and that listed companies will have stricter norms regarding disclosure. Presently, only ICICI Prudential Life Insurance has plans for listing the company. There will be more transparency in the insurance system when companies are listed. In terms of the number of insurance policies sold in 2015-16 and the premium income, the life insurance sector showed growth in double digits. These numbers have not been seen since 5 years. The high growth is mainly a result of the amendment to the Gratuity Act making the amount payable Rs.10 lakhs from Rs.3 lakhs. The gratuities are payable by the insurance companies resulting in higher funding. A number of banks have partnered with insurance firms as the IRDAI recently introduced new bancassurance norms allowing banks to sell only 9 policies which is 3 in each category of life, non-life and health insurance.

      1 September 2016

    • Robbery from home to be covered in renters and homeowners cover

      You receive plenty of indemnity for what you spend for your renter’s insurance and home owner’s insurance. For instance, many such policies related to home insurance protects possessions stolen outside of your house, which is known as ‘off-premises coverage’. These policies also cover pet bites, damage to property, and your stuffs among others. You are also protected if your house belongings get stolen from, say, your car while parked elsewhere. 10 percent is the standard amount you will get after a claim. Hence please go through your policy carefully to know what all you can claim for and whether it qualifies for ‘off-premises claim’.

      29 August 2016

    • Unclaimed Insurance Amounting to Over Rs.11,000 Crore

      According to reports, over Rs.11,000 crore are currently being held by insurance companies in the way of unclaimed amounts.

      Parliament was informed of this in the recent session by the Minister of State for Finance. The Life Insurance Corporation of India (LIC) alone has over Rs.5,934 crore in unclaimed amounts as on March 31, 2016.

      The large amount still unclaimed by policyholders has been described as something of a concern, with this amount accumulated over a period of time.

      The majority of the unclaimed amount stems from the life insurance and home insurance sectors arising out of death benefit, maturity claim, survival benefit etc.

      Premiums that have not been claimed for over 6 months are also included in this category.

      25 August 2016

    Home Insurance Reviews

  • Page 1 of 5 1 2 3 4 5
    • 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? 0
      , 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? 1
      , 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? 0
      , 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? 0
      , 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? 3
      , 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? 1
      , ahmedabad
      Reviewed on Dec 19, 2017
    • 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? 1
      , bangalore
      Reviewed on Dec 05, 2017
    • ICICI Lombard Home Insurance
      "Good policy to hold"
      0.5 5.0/5 "Blown Away!"
      I have my home insurance with ICICI LOMBARD GENERAL INSURANCE. I have been using this home insurance since I got my home with ICICI bank 2 years back as it is a mandatory to have their home insurance along with the loan. Till now I didn't have any claim experience with them as it is a new one. They deducted the premium from my loan amount.
      Was this review helpful? 0
      , noida
      Reviewed on Dec 02, 2017
    • review Home Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a home insurance with ORIENTAL INSURANCE. I have been using this home insurance for almost 8 years and it is being covered for 20 years so I need not renew it year on year basis. The total premium of Rs. 50000 for 20 years has been deducted from my home loan at the time of disbursement by Federal bank and the bank paid it to Oriental insurance. There is full coverage for my home. Till now I didn't have any claim experience with them.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Nov 21, 2017
    • ICICI Lombard Home Insurance
      "Good Policy to hold"
      0.5 4.0/5 "Great!"
      I have my home insurance with ICICI LOMBARD GENERAL INSURANCE. I have been using this home insurance since I got my home with ICICI bank as it is a mandatory to have their home insurance along with the loan. Till now I didn't have any claim experience with them as it is a new one.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 20, 2017
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