Home Insurance

Home insurance policy offers protection to appliances/equipments/items/prized possessions and more that is present in the house of the policy purchaser or simply the house that is insured. A comprehensive plan gives coverage against economical liabilities due to loss/damage of home and its content resulting from any natural or man-made reasons.

You can relieve your mind and trust the home insurance policy as a security in times of environmental upheavals and social strife affecting the insured property. Applying for an offline or online home insurance policy is very simple. The response from insurance companies is also very quick as like that from the bank offering one.

There are some thoughtful additional covers to consider such as earthquake cover, theft cover, and burglary cover for heightened protection. In case of calamity caused loss or damage to the residence, the insurance payouts help massively in reinstating the property, which could be a huge relief at dire times.


Depending on a bank/company/insurance provider, the eligibility for housing insurance can differ. Here is a look at some of the minimal requirements considered:

  • Companies and individuals can purchase the policy. The latter must be resident of India, and occupant/owner of the property to avail a home insurance policy. However, the owner of apartment/house etc can buy a multi-year policy on house only.
  • Some insurance firms provide cover for house contents to the tenants as well. The cover is offered for tenant's possessions against damage or loss due to fire, lightning, smoke, flood, theft, personal belongings, electronics, furniture, etc. Be very careful when you select this type of insurance if you share an accommodation because at times, such insurances are unacceptable for the mentioned conditions.
  • For taking home insurance for a society, member from managing committee of the society or authorized person can buy the policy. The same will be issues in society's name, and cover utilities, which are normally handled by the society and buildings.