• A home insurance policy is essential for protecting any residential property as it protects against any financial loss that may arise from fire, theft, natural disasters, or other unforeseen incidents. When dealing with luxury homes, high-value home insurance becomes necessary. High-value home insurance policies cater to your specific needs based on your possessions and their value. If you aim to secure your home, consider exploring HDFC ERGO’s property insurance policy, where you can enjoy discounts of up to 45%.

What is High-Value Home Insurance?

• High-Value home insurance policy offers extensive coverage for a property or residence that has a higher value than a typical house. It ensures protection for both the structure and the contents of the home. High-value home insurance is suitable for residences with more than four bedrooms, living spaces, gyms, pools, lawns, etc. Should this type of home suffer damage from unforeseen events, a standard home insurance policy would fall short in covering all the damages.

Coverage Offered by High-Value Home Insurance
Here are some of the coverage features that high-value home insurance provides:

• All covered property features comprehensive coverage.
• Full replacement cost coverage.
• Backup protection for drains and sewers.
• Replacement cost coverage for buildings.
• Replacement cost protection for additional structures, including fences.
• Costs associated with property breakage.
• Glass breakage and vandalism coverage.
• Replacement cost coverage for personal belongings.
• Coverage for valuable items such as silverware, jewelry, art, antiques, and expensive electronics.
• Protection against theft or burglary of property and valuables at the insured location, in case the homeowner is away.

Features of High-Value Home Insurance

• Unlike standard home insurance, high-value home insurance provides broader coverage for your valuable belongings and the home structure.
• High-value home insurance includes home emergency coverage that offers prompt assistance during an unexpected household crisis.
• Policyholders receive exclusive access to specialized services such as surveyors, legal advisors, safe installers, and furniture restorers.
• Immediate access to insurance professionals.

Exclusions of High-Value Home Insurance
Below are some exclusions found within a high-value home insurance policy:

• Any personal possessions that are inherited.
• Coverage will not include costs for alternative accommodation exceeding one year.
• Loss of metered gas.
• Upgrades to the home are not covered.
• Damage resulting from terrorism, war, or nuclear-related activities.
• Damage caused by incidents such as rising dampness, wear and tear, rust, oxidation, gradual deterioration, warping, etc.
• Loss or damage due to poor workmanship or misuse.
• Electrical issues and mechanical failures.

Better Dwelling Coverage Than Standard Policy

• A standard home insurance policy provides coverage for your home’s structure and contents up to a specified limit stated in your policy documents. In contrast, a high-value insurance policy extends beyond what a standard plan covers. A high-value policy offers broadened coverage for the dwelling and compensates for home repairs exceeding the specified amount under certain conditions. High-value home insurance also offers coverage to rebuild your house elsewhere if your home is completely destroyed.

Conclusion

• It is recommended for individuals with luxurious homes to opt for a high-value home insurance policy, as it will assist in preventing significant financial loss if your home sustains damage due to an unfortunate event. You can explore home insurance or property insurance on HDFC ERGO’s website, where you can purchase the policy online at your convenience.
• Disclaimer:

• The above information serves as an illustration only. For further details, please consult the policy wordings and prospectus prior to finalizing the sales.