NRI Insurance | ICICI Non Resident Indians Insurance & Investments

Home Insurance

ICICI Lombard's Home Insurance policy secures the structure and/or contents of your home against natural and man-made disasters.

Policy Details

Key Benefits

Comprehensive insurance, which covers both structure and / or contents
of your home
Coverage up to 5 years for structure and contents
Cover against Fire and allied perils, Burglary & Theft and Optional cover for
Terrorism and Additional expenses of rent for alternative accommodation.

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Key Benefits

Comprehensive cover available, which covers both structure and / or contents
of your home
Coverage up to 5 years for structure and contents
Cover against Fire and allied perils, Burglary & Theft and Optional cover for
Terrorism and Additional expenses of rent for alternative accommodation.
Buy Online through ICICI Bank, HDFC Bank and Citibank Credit card and pay in
instalments without any extra charges.*

* EMI facility available only for ICICI Bank, Citibank, HDFC Bank (upto 6 months) credit card customers at the sole discretion of the Banks.

Note: EMI option subject to minimum annual premium of

10,000. Click here to know more.

What is covered

You can choose to buy insurance for only the building (structure) of your home, or only the contents (belongings) or both.

The policy covers the losses to the structure and / or contents of your home due to any natural and man-made calamities.

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What is covered

Fire

Lightning

Impact Damage

Aircraft damage

Explosion / implosion

Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation

Riot, Strike, Malicious and Terrorism Damage

Subsidence and Landslide including Rockslide

Bursting and/or overflowing of water tanks, apparatus and pipes

Missile testing operations

Leakage from automatic sprinkler installations

Bush Fire

Earthquake – (Valid on the payment of additional premium)

Burglary cover and theft cover (only for contents): The contents of your home are also covered against loss due to burglary or theft or an attempted burglary. It also covers loss of jewellery, silver articles and precious stones kept under lock and key, up to 25% of the total content sum insured or

1 Lakh, whichever is lower.

Optional covers:

Terrorism Cover: Covers any damages and losses to the structure and / or contents of your home due to acts of terrorism.

Additional expenses of rent for alternative accommodation: If you are forced to shift into an alternative accommodation because your home is destroyed or damaged by any insured peril, the policy will cover you against the additional rent.

The maximum coverage is up to

1 Lakh for up to 6 months. This cover is available only if you are insuring the structure of your home.

What is not covered

Willful destruction of property.
Loss, damage and destruction caused by war, wear and tear etc.
Losses if your home has been unoccupied for more than 30 days, without prior notice to the company.
Cash, bullion, painting, works of art and antiques.

For more details, kindly refer to the Policy Wordings.

How to calculate the Sum Insured

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How to calculate the Sum Insured

Home Structure:

The home insurance policy insures the structure of your home for its reconstruction value (and not for market value). Reconstruction value is defined as the cost incurred to reconstruct the home if it is damaged. On the other hand market value is a combination of cost of land, demand & supply scenario, etc.

Sum insured is calculated by multiplying the built up area of your home with the construction rate per sq. feet, e.g. if your built up area of your home is 1000 sq. feet and the construction rate is

800 per sq. feet, the sum insured for your home structure is

8 Lakh.

We recommend the rate of construction for your location when you are buying online. However, this value can be revised appropriately if expensive material - like marble flooring, etc. – has been used in construction. If your home has lawn / garden surrounded by a perimeter wall, the construction rate can be revised to include the cost of construction of this wall in home structure sum insured.

Home Contents:
The contents of your home - furniture, durables, clothes, utensils, jewellery, etc. - are to be valued on market value basis i.e. the current market value of similar items after depreciation.

Home Insurance and You

Protect your home

There is one place in the world that makes you feel very secured - Your home. Your home protects you from the external circumstances. Weather conditions have gotten quite troublesome with the frequency of rainfalls and summer heat increasing. A heavy rainfall can do severe damage to your home structure and interiors. It's prudent to take special care of your home and protect it against uncontrollable risks. Home maintenance can be planned in smarter way. It will not only help you maintain your home but also the contents of your home in a better way.

Begin with cleaning the house
Cleaning is very important. Daily cleaning will protect your house against unnecessary moisture and dirt. Divide the house area and do one to one cleaning rather than cleaning the house at one go. Make use of high-quality equipments and solutions as per the necessity to clean, dust or polish the furniture items. Give special attention to cracked tiles and a roof with a leakage hole. Repair the damaged tiles immediately and use water-proof shields for your roof. Doors and windows of your home can be protected in the same way.

Try to free the space to channelise ventilation
Avoid buying any new furniture, especially wooden furniture. Keep simple, useful and functional objects. If you're planning to renovate the house, monsoon is not the best season. Postpone your renovation plans and make use of the old clothes, rugs and carpets. Do not forget to vacuum your carpets and rugs to get rid of the musty smell. This will keep your home neat and tidy by soaking the extra moisture.

Pay attention to electric devicesElectric devices can create trouble in weather extremities. Limit the use of electronic items. Keep the devices covered before and after using them. Damaged electrical appliances, cords, wires should be replaced immediately. Consult an electrician before repairing any devices on your own. It is wise to call an electrician for major repairs. Keep the electrical appliances away from children and pets.

Go for Home Insurance
Buying a home insurance plan will be the best way to secure your household and your precious assets against natural calamities. A comprehensive home insurance plan will not only secure your home and home contents against weather issues but also against man-made disasters like burglary, theft, riot, terrorism, strike.

We, at ICICI Lombard bring you a complete plan for your home. Our Home Insurance plan safeguards your home including your personal property, household goods and other valuables. You can purchase our home insurance policy online anytime, anywhere and print it as well. This way you can safeguard your home in the extreme weather and other conditions.

Home Insurance Product Code: Misc 13