Home insurance secures your assets against untoward incidents and calamities, providing you with financial backup when you need to rebuild. Home insurance plans should offer coverage to both the structure and your personal belongings.
Top home insurance companies have plans that offer adequate coverage to both. In addition to protecting your home and its contents, you’re also spared the worry of the consequences of an unexpected event leading to loss/destruction of property.
Types of Home Insurance Policies
You can take your pick from
1.Basic fire protection policy
2.Household package policy or a comprehensive policy
With a host of home insurance companies that offer a basket of plans to suit every individual requirement, choose a home insurance policy that offers comprehensive coverage at affordable premiums. Compare policies/plans that are offered by home insurance companies and insure your dream home.
Here are some of the best home insurance companies that offer comprehensive policies.
1. HDFC Ergo
HDFC home insurance gives homeowners the option of two basic plans. One against fire and the other against burglary or theft. They charge the lowest premiums. If you have adequate security installations at home, then you can garner about 25% discount on the premiums. With a choice of additional riders, buyers can enjoy lots of flexibility when buying a HDFC home insurance policy.
2. Bajaj Allianz
Bajaj Allianz home insurance policies offer total coverage for your home and personal belongings. Your home is protected from ravages of natural disaster and man-made malicious as well. The people who are insured are also offered alternative accommodation cover, in case the insured home is badly damaged and unfit for occupation.
With a host of premium and cover options, you can choose one that meets your requirements. The company has an easy refund policy, just in case you choose to terminate the home insurance policy.
3. ICICI Lombard
ICICI has won the trust of millions because of its offering of home insurance policies. There are a lot of custom policies to choose from, meaning you can choose based on your specific requirements. In addition to the basic plan, you can also choose to top up with special options. You can transform it into a fully comprehensive customised policy. You can take a policy cover extending upto 10 years. ICICI Lombard home insurance offers cover to house properties less than 50 years of age.
4. TATA AIG
The name TATA is synonymous with trust, and TATA AIG home insurance lives up to its name. You can choose among 15 comprehensive cover plans. Plus, your jewellery and appliances are also covered under the home insurance policy.
As a top up to the basic cover plan, there are additional riders which can be added to the policy to cover you against specific natural disasters. Say, your home is at a place which is prone to flooding during monsoon, you can opt for the additional flood cover.
5. IFFCO Tokyo
A prominent insurance provider, IFFCO Tokyo offers two customised policies—Home Family Protector Policy and Home Suvidha Policy.
The Home Suvidha policy offers comprehensive coverage to include the structure as well as the contents. The Home Family Protector policy is a group policy and several homes are covered under a single policy. The policy is split into 12 sections, offering protection against multiple factors ranging from fire and related hazards to burglary.
Getting an insurance plan is the best move to take if you own a home. Always read the terms and conditions, especially the fine print before buying one. This ensures that you are aware of the extent of your policy coverage.
Run through the below checklist before you make the choice of the insurer:
● Does the insurance provide the needed cover?
● Is the premium rate within your financial capacity and the maturity period of the policy covers the life of the asset?
● Is there transparency in claims processing?
● Does the insurer have a high settlement rate and enjoys good reputation?
All the best! To know more about home insurance policies, visit the Bajaj Finserv website.