Long Term Home Insurance

Home Insurance – Instant Quote

Home insurance provides financial protection against loss or damage to your home’s structure and contents due to insured perils. In exchange for a nominal premium, the policy ensures recovery up to the sum insured.

The Insurance Development and Regulatory Authority of India (IRDAI) has introduced Bharat Griha Raksha, a standardized home insurance policy that covers both structure and contents.

Types of Home Insurance Policies

• Structure-Only Coverage – Covers the building from insured perils.
• Structure & Contents Coverage – Covers both the building and household items.
• Policies are available for 1 year (short-term) or up to 10 years (long-term).
• Structure is covered on a Reinstatement Basis (cost to rebuild the house).
• Contents are covered on a Market Value Basis (cost after depreciation).

Perils Covered Under Home Insurance

• Fire & Explosion Risks
• Fire, including visible fire damage (smoke damage without fire is excluded).
• Explosion/Implosion from household appliances (e.g., gas cylinders, geysers).
• Natural Disasters
• Lightning damage.
• Storms, Typhoons, Tempests, Floods, and Inundation.
• Landslides, Rockslides, or Subsidence causing property damage.
• Man-Made Risks
• Riot, Strike & Malicious Damage.
• Theft & Burglary (Optional cover with additional premium).
• Damage from Aircraft Falling Objects.
• Impact from Road/Rail Vehicles or Animals.
• Bush Fire Damage.
• Water Damage
• Bursting or Overflowing of Water Tanks.
• Leakage from Automatic Sprinkler Installations.
• Other Risks
• Missile Testing Operations (if missile parts hit and damage the home).