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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.

      2nd 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.

      29th 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.

      11th 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.

      3rd 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.

      30th 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.

      12th 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.

      10th 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.

      1st 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’.

      29th 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.

      25th August 2016

    Home Insurance Reviews

  • Page 1 of 4 1 2 3 4
    • ICICI Lombard Home Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      My home insurance is with ICICI Lombard, I have recently taken this policy which came along with the home loan. They have offered good benefits in the policy, but the policy costed me around a lakh and more and since I requested reduce the charges. They have charged me 71K. I am not sure how they could reduce such a difference. If they did what would my benefits be currently. I have yet to receive my documents for the policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 13, 2017
    • HDFC Ergo Home Insurance
      "Home insurance is okay"
      0.5 3.0/5 "Satisfactory"
      HDFC ERGO home insurance is really fine, they should provide a cover for the whole life. the total term of the policy is 5 years. No drawback nor any challenges. I normally pay about rs 300 per month for a policy coverage for 15 lakh for 5 years..
      Was this review helpful? 5
      , navi mumbai
      Reviewed on Jan 12, 2017
    • Bharti Axa Home Insurance
      "Home insurance is okay"
      0.5 3.5/5 "Pretty good"
      Bharatha Axa home insurance its okay. I am yet to receive the documents from them . This was offered along with the home loan. In case of any unforeseen events this policy would come in to the picture. This insurance was deducted from the loan amount.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 12, 2017
    • HDFC Ergo Home Insurance
      "Home insurane is too good"
      0.5 5.0/5 "Blown Away!"
      HDFC ERGO home insurance is very good. I am holding this home insurance for a period of 3 months. No drawback nor any challenges as such. This was offered along with home insurance it provides life cover and it provides minimum guaranteed amount If I pay this insurance amount continuously for 5 years I would get benefits after a 10 years as a bonus.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 07, 2017
    • ICICI Lombard Home Insurance
      "Good in communication"
      0.5 5.0/5 "Blown Away!"
      Actually ICICI is changing themselves when I took insurance 2008 they are very much advanced in technology and the return of investment in my insurance and the sector and policies are very good. They are very good at personal communication
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Dec 10, 2016
    • HDFC Ergo Home Insurance
      "High charges"
      0.5 3.5/5 "Pretty good"
      HDFC Ergo was good in their response through calls and emails when I wanted to close my home insurance with them. They responded on time every time I contacted them. But they were very high in their charges. They charged me 84K for the tenure of five years. They were also average on the coverage and plan options.
      Was this review helpful? 5
      , goa
      Reviewed on Oct 05, 2016
    • review Home Insurance
      "Very good benefits and reasonable charges"
      0.5 4.0/5 "Great!"
      Though I have not interacted much with Reliance general insurance for the home insurance as it was the bank executive who done everything for me. I only had to just sign. I am happy with the process and the benefits. They charged me 22K for a five year insurance. They were much reasonable when compared to HDFC Ergo.
      Was this review helpful? 4
      , goa
      Reviewed on Oct 05, 2016
    • ICICI Lombard Home Insurance
      "It is good"
      0.5 4.0/5 "Great!"
      This insurance ( ICICI Lombard) was actually taken care by my employer. I have no clue about the list of hospital where I can get the claim neither I was updated about that. I have the contact number of the person whom I am supposed to contact. This policy is one year old and the employer would take care of the policy renewal.
      Was this review helpful? 8
      , secunderabad
      Reviewed on Sep 09, 2016
    • review Home Insurance
      "My expereince with National insurance"
      0.5 5.0/5 "Blown Away!"
      My home insurance is with National insurance and it is of great help. Where they provide the contact details of the insurance companies and they were providing the correct information. Plus, it provides the information about the policy renewal date and it helps me to make the payment through cheque or through ECS and it also ensures that policy reaches on time.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 31, 2016
    • ICICI Lombard Home Insurance
      "Home Insurance"
      0.5 5.0/5 "Blown Away!"
      I have recently purchased an apartment and taken loan with ICICI bank then I got to know about the Home insurance of ICICI. The information which is provided is very useful to me and I am very much happy to use ICICI loan cum insurance services.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Aug 03, 2016
    • HDFC Ergo Home Insurance
      "Service of Pleasure with a smile"
      0.5 4.0/5 "Great!"
      The HDFC insurance representative was so attentive to serve me that she did all and everything in one go within half an hour, without any mistake. she unsuccessfully tried convincing me to opt for multiple insurance cover. I took one of my need and choice.
      Was this review helpful? 8
      , agra
      Reviewed on Apr 01, 2016
    • HDFC Ergo Home Insurance
      "Good Services"
      0.5 5.0/5 "Blown Away!"
      I have taken my home insurance from HDFC Ergo. The services are very good from them. I have not faced any hassles in getting my policy. The coverage is of eight lakhs. The premium was pretty normal. Overall the benefits are good.
      Was this review helpful? 6
      , chennai
      Reviewed on Mar 31, 2016
    • ICICI Lombard Home Insurance
      "Fabulous"
      0.5 4.0/5 "Great!"
      I do have the home loan insurance policy with the ICICI lombard general insurance company. The premium is around 21500 Rupees for five years of time, its the single shot premium. Response is good with them and the total insured value is around 16 lakh Rupees.
      Was this review helpful? 4
      , pune
      Reviewed on Mar 15, 2016
    • review Home Insurance
      "Average..."
      0.5 2.0/5 "Expected more"
      Along with my Home loan I have taken an Home insurance. Last 2weeks back I took it from SBI general insurance. Emi amount was 2000rs per month. Its 20 years plan. I am unhappy with them in terms of service part. They did not provide clear details to me.
      Was this review helpful? 12
      , coimbatore
      Reviewed on Mar 01, 2016
    • ICICI Lombard Home Insurance
      "Good...."
      0.5 2.0/5 "Expected more"
      Accidental benefit is there and the ICICI Lombard told that incase our home is damaged by natural calamities then we can claim for the same. Home insurance is for 20 years and premium is around 2k per month. As I took it along with the home loan and took it for safety purpose.
      Was this review helpful? 8
      , chennai
      Reviewed on Feb 23, 2016
    • ICICI Lombard Home Insurance
      "Good but tenure can be long "
      0.5 3.0/5 "Satisfactory"
      I have taken the Insurance with ICICI Lombard.Its basically a insurance which was provided for the home.Its for tenure of 5years and the premium amount is on the higher side.The process was completed with the home loan itself.The plan benefits in the home Insurance was very good.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Feb 01, 2016
    • ICICI Lombard Home Insurance
      "Nice insurance company for property "
      0.5 4.0/5 "Great!"
      I have talent home insurance from icici Lombard. The tenure is for 30 years till the home loan gets completed . In case of any natural calamity occurred the property will be safe. The insurance company will pay.Policy coverage is given for the entire loan amount. There is only on time premium which was also less.
      Was this review helpful? 9
      , pune
      Reviewed on Jan 29, 2016
    • review Home Insurance
      "would be helpful..."
      0.5 4.0/5 "Great!"
      In case of any theft and physical damages in our hose the Oriental Insurance would reimburse. They does not cover for entire things but atleast we get something when we are in need. Payment charge is just 1200 to 1500 per annum and the total cover for my home is 15lakhs.
      Was this review helpful? 6
      , new delhi
      Reviewed on Jan 04, 2016
    • HDFC Ergo Home Insurance
      "Good coverage is given for home "
      0.5 4.5/5 "Excellent!"
      I took the home insurance from hdfc ergo. In case we loose the job for three month the emi of the home loan will be paid by the insurance company . In case of fire in the building or earthquake all the outstanding will be waived off. Policy coverage is total value of the flat.
      Was this review helpful? 5
      , thane
      Reviewed on Dec 19, 2015
    • HDFC Ergo Home Insurance
      "Best option from the market"
      0.5 5.0/5 "Blown Away!"
      This insurance was provided to me with the HDFC Housing loan . I am using it for the past 1 month only, this was suggested to me by the HDFC Housing loan executives. Since I have relationship with HDFC they have provided me with the best options which is available in the market.
      Was this review helpful? 6
      , mumbai
      Reviewed on Dec 10, 2015
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