Home Insurance: Add-ons and their benefits you need to know about

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August 26, 2020 12:49 PM

Note that, add on covers are designed to help policyholders in additional areas which the home insurance policy might not cover. Hence, choose only such home insurance add-ons that you think be applicable to your needs and circumstances.

Frequent earthquakes in NCR, home insurance, home insurance for earthquake, benefits of h0me insurance, Policybazaar.com, seismic zones, latest news on home insuranceSome of the popular home insurance add-ons include burglary and theft cover, loss of key, liability cover, electrical or mechanical breakdown cover, temporary resettlement cover, jewelry cover, loss of rent cover, terrorism cover, etc.

Due to heavy rains, widespread disruption is caused everywhere, and people have been severely affected. Even amidst such calamities, with a home insurance policy, you can protect your home and take care of financial losses.

Experts suggest with natural calamities wreaking havoc in many parts of the country, both homeowners and renters should consider opting for home insurance. Having a comprehensive home insurance policy will help policyholders protect their dwellings in case of both natural and man-made damages, along with safeguarding the policyholder’s home against multiple calamities. It is a necessity especially in recent times and while opting for it pay attention to its various features. Additionally, while buying home insurance, know all about its features, so that policyholders are not surprised later.

Along with what is covered under a home insurance policy, opting for add-ons with a policy will help policyholders to a great length, depending on their requirements if need be. Some of the popular home insurance add-ons include burglary and theft cover, loss of key, liability cover, electrical or mechanical breakdown cover, temporary resettlement cover, jewelry cover, loss of rent cover, terrorism cover, etc. Note that, add-on covers are designed to help policyholders in additional areas that the home insurance policy might not cover. Hence, choose only such home insurance add-ons that you think be applicable to your needs and circumstances.

Add-Ons

Certain things that are not covered with a basic policy, can get covered with add-ons. For instance, add-ons cover additional electronic equipment, jewelry, and valuables that are generally not covered from the pedal cycle, terrorism cover, etc. Keep in mind, however, that to get the add-ons, policyholders need to pay an additional amount over and above their home insurance premium.

Some of the popular add-ons and their benefits:

  • Burglary and Theft cover – This covers damage or loss caused to the policyholder’s household contents and home in the event of burglary and theft.
  • Pedal Cycle cover: This add-on is for cycle lovers, those who go for cycling expeditions. This add-on cover ensures that the policyholder continues his/her expedition without any worries of any third party liability related to the pedal cycle. The add-on also covers for damage to the policyholder’s cycle.
  • Liability cover – This covers any third-party liability expenses which the policyholder has incurred. Along with any medical liabilities arising out of injury to domestic help or any other third party.
  • Jewelry cover – This is all risk cover for the policyholder’s jewellery. This add-on protects not only any loss of jewellery at the policyholder’s home but also outside the home.
  • Electrical or Mechanical Breakdown cover – This covers the policyholder’s domestic electronic and electrical appliances. This will pay for any repair and service which the policyholder has availed in case of a breakdown of these appliances.
  • Electrical or Mechanical Breakdown cover – This covers the policyholder’s domestic electronic and electrical appliances. This will pay for any repair and service which the policyholder has availed in case of a breakdown of these appliances.

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