• Every inhabitant, whether a tenant or an owner, ought to protect their property by acquiring a home insurance policy as it secures your residence and provides coverage for the structure along with its contents. An unfortunate event can lead to irreversible destruction, potentially depleting your finances in mere seconds. Therefore, it is recommended to purchase a home insurance policy, particularly in India, where numerous regions are vulnerable to natural disasters and fire outbreaks. If you are in the process of acquiring a home insurance policy or already possess one, then it is essential to be informed about significant inclusions under home insurance in India.

• Protection Against Natural Disasters
• A natural disaster can result in substantial financial losses. One of the most considerable losses during such an event is the loss of a home. For instance, in 2021, cyclone Yaas in Odisha and a major fire incident in Kullu, Himachal Pradesh, in December 2021, destroyed 15 homes and caused extensive property damage. A key distinction exists between the insured and incurred financial losses during any such emergency. Opting for a home insurance policy is a smart way to protect the home against natural disasters. It also aids in safeguarding both the structure and contents of the residence.

Safeguarding Valuables and Contents:
With home insurance secured, one can also safeguard the contents, including furniture, appliances, etc. Furthermore, one can also insure valuables such as jewelry. HDFC ERGO offers its jewelry and valuables add-on coverage that provides insurance for your jewelry and other valuables like sculptures, watches, paintings, etc.

• Protection Against Liabilities:
• HDFC ERGO’s Public Liability cover provides a sum insured of up to Rs. 50 Lakhs in the event of injury/damage to a third party due to your house. Let’s illustrate this with a straightforward example. ‘X’ and ‘Z’ are two neighbors. Repair work is taking place in ‘X’s home. This repair activity is damaging the property of ‘Z’, the neighbor. Such a situation is covered under home insurance when public liability coverage has been selected.

• Alternate Accommodation:
• In cases of unforeseen events such as fire or any natural disaster, property insurance assists with construction costs as per the policy’s terms and conditions. It also provides add-ons like resettlement coverage for situations when one is required to relocate due to significant home damage. With HDFC ERGO’s alternative accommodation provision, we ensure you have a temporary place to stay comfortably until your home is ready for occupancy again.

Conclusion:

Home insurance, also referred to as homeowner insurance, is crucial for securing your most important asset, your home. However, there are particular inclusions and exclusions you should be aware of before purchasing any home insurance plans. Clearly understand all terms with your insurance agent prior to acquiring property insurance. You can consider the HDFC ERGO home insurance policy, which insures belongings up to ₹ 25 lakh, offers additional coverage for 15 types of belongings and perils, and provides discounts of up to 45%.

Disclaimer:
The information provided above is solely for illustrative purposes. For further details, kindly consult the policy wordings and prospectus prior to finalizing the sales.