Question 1

What does home insurance cover?

Accepted Answer

Policies typically cover the building structure and/or contents against fire, lightning, explosion, burglary, and selected natural calamities. Optional covers vary by insurer.

Question 2

Is home insurance mandatory?

Accepted Answer

It is not legally mandatory for all homeowners, but housing societies and lenders may require cover. It is recommended for valuable property and contents.

Question 3

How is sum insured calculated for a house?

Accepted Answer

Structure cover is often based on reconstruction cost per sq. ft., not market value. Contents cover should reflect replacement value of appliances and valuables.

Question 4

Are jewellery and cash covered?

Accepted Answer

Standard policies limit jewellery and cash. You may need add-ons or separate declarations for high-value items. Read sub-limits in the policy wording.

Question 5

Does home insurance cover tenants?

Accepted Answer

Tenants can insure contents; building cover is usually the owner’s responsibility. Landlord policies may include loss of rent or liability — check product details.

Home Insurance Plans in India

Home Insurance plans

Frequently Asked Questions