Find out what is covered under your home insurance policy

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Updated: Jul 22, 2020 5:04 PM

Certain insurance policies also do not cover any damages or loss due to directly or indirectly caused due to earthquakes, volcanic eruptions, or other convulsions of nature. Hence, find out from your insurer beforehand.

Insurance, delhi rains, assam flood, earthquake, cyclone amphan, cylone amphan damage, west bengal,odisha, car insurance, vehicle insurance policyholders,Irdai, home insurance claimsKeep in mind that no insurance company will cover an individual against war, revolution, the act of a foreign enemy, invasion, rebellion, hostilities, civil war, or insurrection military.

Natural calamities come without any warning. But during the monsoon season, even though we are prepared for them, they strike us. Other than the ongoing Covid-19, various states in India have been facing multiple natural calamities over the last few months, starting from cyclones, floods to earthquakes. As of now, many states in the country are under water and have fallen prey to the monsoon rains.

Having said that, even though such calamities are not under our control, getting some monetary help certainly helps one in recovering fast. Hence, having a home insurance policy secures your finances from such calamities. In case your home gets damaged due to any natural calamity, you get the financial back-up to tackle the expenses for repairs or damage.

Home insurance policy is offered for different types of houses such as home insurance for owners, tenants, and housing society insurance. Therefore, depending on the type of your home, you can opt for an insurance policy.

Home insurance policies usually cover natural calamities like floods, earthquakes, storms, and man-made events like riots, etc. It covers the structure of the house and the contents which include prized possessions against any kind of damage that is included in the policy. Note that, these insurance policies usually range from indemnity plans, new for old plans, reinstatement plans, and agreed value plans.

These home insurance policies usually vary not only from company to company but also depends on the type of policy that you choose. For instance while one insurance policy gives complete coverage for any damage to the policyholder’s home or it’s contents from natural calamities, fire, man-made events, theft or burglary in the insured property and valuables at the insured premises if the homeowner is away, some policies cover jewelry and expensive article, valuable items such as silverware, jewelry, and expensive electronic gadgets, etc. under add-ons).

Keep in mind that no insurance company will cover an individual against war, revolution, the act of a foreign enemy, invasion, rebellion, hostilities, civil war, or insurrection military. Additionally, loss or damage caused by depreciation or wear and tear of a building, or property or its contents will not be covered even though it is insured. Losses arising due to third party construction will also not be covered, along with willful destruction of property.

Certain insurance policies also do not cover any damages or loss due to directly or indirectly caused due to earthquakes, volcanic eruptions, or other convulsions of nature. Hence, find out from your insurer beforehand.

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