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| What are the losses/ perils covered under this policy? |
Home insurance covers natural and man-made calamities.
 | Fire |
| Lightening |
| Explosion/Implosion |
| Aircraft Damage |
| Impact Damage |
| Riot, Strike, Malicious and Terrorism Damage |
| Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation |
| Subsidence and Landslide including Rockslide |
| Bursting and/or overflowing of water tanks, apparatus and pipes |
| Missile Testing Operations |
| Leakage from Automatic Sprinkler Installation |
| Bush Fire |
| Earthquake |
Man- made Calamities-
| Burglary & Theft |
| Optional Cover for Terrorism |
| Optional Cover for “Additional rent for Alternate Accomodation" |
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| What is the procedure for assessing the value of my home structure and its contents? |
The value of your home structure is assessed as per the area of your home multiplied by the rate of construction per. sq. feet, as on the date of taking the policy. For example, if your home is 1000 sq. feet and the construction rate per sq. feet is Rs. 800/-, then the sum insured for your home’s building structure is Rs. 8,00,000.
On the other hand, the contents are assessed on the market value of the items. This means that if there were a loss, the claim would be paid on the value of purchasing a similar new item, less depreciation for the usage. |
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| I live on rent, why would I require insurance? |
We have an option to cover your Contents. Our comprehensive Home Insurance policy covers your:
| Household appliances |
| Jewellery |
| Furniture & fixtures |
| Personal items at your home |
| Against fire and allied perils. |
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| I live in a building insured by my society. Would I need to take additional Insurance? |
The insurance that your society provides may offer you a limited cover and generally includes only structure and not contents.
You should buy home content insurance cover for your belongings if building structure of your house is insured by the society. |
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| Is my home insured if my wife uses a part of it (room) for conducting coaching classes? |
| No. Home used for business purposes are not covered. |
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| What are the exclusions of this policy? |
The company is not liable to make payment for:
| Any loss or damage by the insured and/ or insured’s domestic staff direct or indirect involvement in an attempted burglary. |
| Any loss or damage on account of loss of livestock, motor vehicles, pedal cycles, money, securities for money, stamp, bullion, deeds, bonds, bills of exchange, promissory notes, stock or share certificates, business books, manuscripts, documents of any kinds, ATM debit or credit cards, unless previously specifically declared by the company. |
| Any loss or damage to any property that is illegally acquired, kept, stored which is subject to forfeiture. |
| Any loss or damage occurring while insured’s home is unoccupied, for a period of more than 30 days consecutively and if the insured failed to inform the company about the same. |
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| What if I sell the property during the insured period? |
You can cancel the policy and get the premium back on pro-rata basis.
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| If three people share an apartment can each one take a separate home insurance policy? |
| Yes, for their part of the asset. |
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| What are the exceptions against cover within the purview of the Householder's Insurance Policy? |
Under Section 1 (B) the Householder's Insurance policy, any loss or damage suffered to the following is treated as an exception and cannot be claimed.
| Consumable articles |
| Money/ Securities/ Stamps/ Stamp collection |
| Bullion and Livestock |
| Motor vehicles and Pedal cycle |
| Deeds/ Bonds/ Bills of exchange/ promissory notes/ Shares |
| Books/ Manuscripts |
| Loose precious stones, Jewellery and valuables |
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| How do we get the valuation done of our property? |
| The contents are covered on market value i.e. the cost of buying a similar new item after deducting appropriate depreciation on the basis of the age of the item. This includes household appliances, furniture, jewellery, personal effects and miscellaneous items. |
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| On what basis are the structure and contents insured? |
| The structure of your home is insured as per the re-instatement value and the contents are insured as per the market value. |
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| How do you differentiate between riots and terrorism cover in case of Home policy? |
| Riot refers to the violent disturbance of the public peace by three or more persons assembled for a common purpose. |
| Terrorism/ Terrorist activity means use of force or violence harming human life or property, with the objective of pursuing personal or vested interests. |
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FAQs 
