Stay covered against natural calamities
Calamities come unannounced and can cause irreparable damage to your home and finances. With comprehensive home insurance, secure your home and its contents against natural calamities and stay rest assured.
7 reasons to buy ICICI Lombard Home Insurance
Be prepared for any unexpected calamities
Secure your home against natural calamities like earthquakes, floods, cyclones, storms, etc. with home insurance.
Enjoy a 25% discount when you insure your home content and structure with our property insurance for a tenure of 5 years.
Protect your home contents such as electronics and furniture for a tenure of 5 years to avail 25% discount.
Don’t let water damages stress you financially
Stay protected against water seepage and resultant damages
Be at peace, your treasured possessions are secured
Protect your jewellery with our All-Risk Cover and stay worry-free
Protect your home from burglary, terrorism, theft, etc.
Cover your home against losses due to theft, burglary, terrorism, etc.
Don’t let fire accidents burn a hole in your pocket
Cover damages due to fire or allied perils
Think long-term, get 50% discount
You get a massive 50% discount when you opt for a 10 year structure cover with ICICI Lombard home insurance.
- Comprehensive cover available, which covers both structure and / or contents of your home
- Coverage up to 10 years for only structure, 5 years for only contents and 5 years for structure & content
- Covers Earthquake, Floods, Cyclone, Storm etc
- Covers against Fire, Burglary & Terrorism Acts
- Upto 50% Discount on Structure Insurance
- Upto 25% Discount on Content Insurance
- Instant Policy Online, no inspection
- Addon cover for Rent for Alternative Accommodation
All About Home Insurance
Read ArticleSecure your Home with Home Insurance
5 Reasons to buy A Home Insurance Policy in India
5 Reasons to buy A Home Insurance Policy in India
Descriptions- It takes years to build a house, where you create beautiful memories with your dear ones. So why not protect your haven with home insurance cover?
Understand your home insurance policy coverage
Your policy covers:
- Home insurance policy gives protection for only the building (structure) of your home, or only the content (belongings) of your home, or both as per the coverage opted. The policy covers losses to the structure and/or content of your home, that might occur due to a number of natural and/or man-made calamities.
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Your policy does not cover:
- Willful destruction of property
- Loss, damage and destruction caused by war, wear and tear etc.
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Home Insurance
Home Insurance Policy
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Misc 13
Check the sum insured offered by your home insurance policy
When you are considering the value of your home for insuring the structure, you should remember that it is not determined by the market value, which is a combination of cost of land, demand and supply, etc. The value, called reconstruction value, is decided on the basis of how much it would cost you to reconstruct the house if it is damaged.
Insuring the structure of the home
- The sum insured is calculated by multiplying the built up area of your home with the construction rate per sq. feet, e.g. if the 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 lakhs.
- We recommend the rate of construction for few major cities when you buy online; click here to know the construction cost. However, this value can be revised appropriately if expensive material – like marble flooring – 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 the home structure sum insured.
Insuring the content of the home
- The contents of your home – furniture, durables, clothes, utensils, jewellery, etc., is to be valued on market value basis, that is the current market value of similar items after depreciation.
Why Should You Purchase Home Insurance?
The age old adage, “Home is where the heart is” stands true, especially when that home is the result of your hard earned money. A place where you weave your dreams and watch them come to life, your home needs to be secured as much as anything else in life. Home Insurance, also known as property insurance is the best way to keep your house protected. Safeguarding your property from threats like natural calamities, missile test damage, fire, burglary, and other unforeseen events, house insurance offers complete peace of mind and keeps you financially covered for the monetary loss incurred.
Explore our simple, hassle-free claim process
In case of an unforeseen loss/damage to your home, be assured of complete assistance from us
- When in an emergency, call us on our 24x7 toll free insurance helpline, 1800 2666, and leave the rest to us
- Provide relevant information, which includes your policy and other details regarding your claim
- We will then authenticate your claim request and escalate it to our claims department
- Once our claims department validates and registers your request, we appoint a surveyor within 48 hours
- You will then need to submit all the relevant documents to the surveyor, after which the surveyor submits the Final Survey Report (FSR), along with the documents, within 7 days
- On receipt of the documents, our claims department processes the claim within 7 days
To make your claim settlement process faster and simpler, follow this checklist of documents
- Duly completed and signed claim form
- Photocopy of policy
- Copy of FIR
- Final report from police
- Copy of all invoices, price lists, and repair estimates
Please note that this is an indicative list and some other documents may be required at the time of claim settlement. If you wish to make a claim, download the Home Claim Form.
Get answers to common queries about Home Insurance
GENERAL
How can you renew your home insurance policy?
You can renew your policy by visiting the nearest branch. Alternatively, you can also visit icicilombard.com and renew your home insurance policy instantly.
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 ₹800/-, then the sum insured for your home’s building structure is ₹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.
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.
Is my home insured if my wife uses a part of it (room) for conducting coaching classes?
No. Homes used for business purposes are not covered.
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 could consider home content insurance cover for your belongings if the building structure of your house is insured by the society.
COVER
Can the contents be covered in a building that is 45 years old?
We offer a cover for the buildings not more than 50 years old on a case-to-case basis.
What is the Policy start date for Home Insurance?
The policy start date for home insurance will be 7 days from the online transaction date.
Who can take the insurance?
The owner of the property (dwelling and contents) with insurable interest can insure an asset. However, you can declare the possessions as 'goods held in trust' and take insurance for them.
If I work out of my home, is my inventory and business property also covered?
The home insurance product is only for residential property. In case you use your home as your place of business also, you have to take Merchant Cover.
PREMIUM
If I take additional safety precautions like fire extinguishers, smoke alarms, sprinklers etc., will it reduce my premium amount?
Installing fire-extinguishing apparatus does not lower the premium in case of home insurance. Fire Extinguishing Allowance [FEA] is applicable for the entire building, which the society can take.
What are the different modes of payment?
Now you can choose between 5 payment options to pay your premium online:
- Credit Card: Make secure premium payment with your VISA, Master and AMEX card.
- Net banking: Transfer premium amounts online through ICICI Bank and 9 other select banks
- Bill Pay: Use your ICICI Bank Internet Banking account to pay your insurance premium
- Debit Card: Just enter your Citibank Debit Card details to pay your insurance premium directly
- Cash Card: Use your Done Card to make payment online.
CLAIMS
What do I do in case of a claim?
In case of a claim:
- Inform the Call Centre with the policy details
- The company authenticates the claim request
- The surveyor is onsite within 48 hours
- The surveyor submits a report to the company within 72 hours on returning from the site
- The documents are processed by the company within 7 days
- On approval, you will receive the payment
What are the documents required for filing a claim?
The documents required for filing a claim are:
- Claim Form of the company duly completed and signed
- Other evidence of the event occurring, nature and extent of loss such as:
- First Information Report
- Fire Brigade Report
- Estimate of the repairers
- Rent Agreement
- Transport details for baggage loss
What do I do in case of a burglary claim?
In case of burglary claims, amounts up to 75% of the claim payable (as assessed by the company appointed surveyor) will be paid on receipt of a copy of the first information report (FIR). The balance settlement will be made only on receiving the final police investigation report.
How is the value of jewellery calculated?
The maximum value of jewellery covered will be 25% of the total contents or ₹1 Lakh, whichever is lower.
POLICY
What are the exclusions of this policy?
The company is not liable to make payment for:
- Any loss or damage caused by you or your 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 your home is unoccupied for a period of more than 30 days consecutively and if you failed to inform the company about the same.
What if I sell the property during the insured period?
You can cancel the policy and take the premium back.
If three people share an apartment, can each one take a separate home insurance policy?
Yes, for their part of the asset.
How do we get the valuation of our property done?
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.
Reviews and Ratings
Neeraj Singh | Dec 08, 2018
The service provided by the ICICI Lombard customer care executive was cordial and really good. She even followed up on time, which was equally impressive. I am satisfied that this house insurance policy offers protection for any damage that occurs due to natural calamities.
M.R. Ramesh | Oct 30, 2018
Prompt and good service received from your team. This is one of the main reasons why I will always buy my home or any other policy from your company. Hope you continue to maintain these standards. All the best.
Mukul Chandra Ghosh | Oct 24, 2018
I was impressed by the offerings of your property insurance plan and decided to purchase it over the phone. However, it’s not showing in my profile despite notifying you twice. Please update my profile and follow up. Thanks.
Ajay Hari | Oct 19, 2018
The service provided by the ICICI Lombard customer care executive was cordial and really good. She even followed up on time, which was equally impressive. I am satisfied that this house insurance policy offers protection for any damage that occurs due to natural calamities.
Kamalaksha D. Prasad | Oct 10, 2018
I had recently contacted the team at ICICI Lombard to learn about the coverage they offer for home insurance and the benefits attached to this policy. I'm glad I did, because I was really confused about various things. But after hearing their expert advice, I feel more confident about my decision.
Listen to our customers
ICICI Lombard General Insurance Ltd. is one of the largest private sector general insurance company in India offering insurance coverage for motor, health, travel, home, student travel and more. Policies can be purchased and renewed online as well. Immediate issuance of policy copy online.
ICICI trade logo displayed above belongs to ICICI Bank and is used by ICICI Lombard GIC Ltd. under license and Lombard logo belongs to ICICI Lombard GIC Ltd assigned by Northbridge Financial Corporation solely for the territory of India. Insurance is the subject matter of the solicitation. The advertisement contains only an indication of cover offered. For more details on risk factors, terms, conditions and exclusions, please read the sales brochure carefully before concluding a sale. ICICI Lombard General Insurance Company Limited, ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhi Vinayak Temple, Prabhadevi, Mumbai - 400025. Reg. No.115. Fax no - 022 61961323. CIN: L67200MH2000PLC129408.
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