Home Insurance

Home Insurance

Home insurance or property insurance secures the structure along with its content against unwanted events like fire, theft, natural calamities (storm, cyclone, etc.) or man-made activities (riots and terrorism). With the arrival of auspicious occasions, it is advisable for you to invest in a home insurance policy, as securing your assets is one of the best things to do during this festive time. An unfortunate incident can cause irreversible damage, leading to vulnerable financial losses; hence, it is wise to buy property insurance.

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BUY A HOME INSURANCE POLICY?

While home insurance is not mandatory in India, you may think of getting a home insurance plan depending upon the risk factors in India. For example, many regions are prone to natural calamities like floods, earthquakes and cyclones; do not forget those fire incidents and thefts/burglaries that happen here most of the times. Hence, buy a home insurance plan to get coverage under following circumstances:
  • Fire Accidents
  • Thefts and burglaries
  • Natural calamities
  • Man-made hazards
  • Damage to belongings

Who should buy a Home Insurance ?

The Proud Home Owner :  Few things in life match up to the joy of unlocking the door and taking that first step into a house you call your own. But with that joy also comes a nagging worry – “what if something happens to my home?” ut that worry to rest with the Home Insurance Policy from Bimaadvice. We protect your house and your belongings in case of natural calamities, man-made hazards, fires, thefts and more.

The Happy Renter :  First off, congratulations if you’ve found the perfect home to rent in your city. It gives you all the perks of a fabulous house without any added responsibilities, doesn’t it? Well, that may be true, but the need for safety is universal, even if you’re a tenant. Protect all your belongings and keep yourself safe from financial losses in case of natural disasters, burglaries or accidents with our Home Insurance Policy.


Frequently Asked Questions on Home Insurance

Can the sum insured for this policy be increased or decreased during the term?

The sum insured can be increased by opting for a higher premium. It can however, not be decreased.

What is the duration of the policy?

This policy has a maximum duration of 5 years. Buyers are offered discounts ranging from 3% to 12% depending on the length of the tenure.

Can I cancel the policy at any time during the tenure?

Yes. You can cancel the policy anytime you want. However, please note that retention of premium as per short period scales would be applicable.

What is the maximum cover provided under this policy?

The policy provides a cover of up to Rs. 25 Lakhs for theft/damage to your home contents and a cover of up to Rs. 50 Lakhs for third party liabilities on account of accidents.

When will the policy cover start?

The policy cover starts 1 day after purchasing the policy online.

BUY A HOME INSURANCE POLICY?

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