5 Home Insurance Coverages Everyone Should Have
5 Home Insurance Coverages Everyone Should Have
![5 Home Insurance Coverages Everyone Should Have 5 Home Insurance Coverages Everyone Should Have](/images/default-source/home-insurance/ergo-home_1.jpg)
A home is a place that is very close to every individual heart. It takes years of savings to have a home for yourself, and for the majority of Indians, it is a milestone achievement. It is necessary to safeguard your home and protect it against unwanted damages. Hence, it is necessary to have proper home insurance coverage for your property to secure its content/structure. You can opt for HDFC ERGO property insurance policy which provides a plan for both owners as well as the tenant. Now let us look at home insurance coverages that are advisable to be availed along with the policy.
5 Home Insurance Coverages Everyone Should Have
1. Coverage against water-induced damage
A standard home insurance policy covers damages caused by the flood. However, additional coverage against water-induced damage might be required if damage Is caused by a water leak in the roof, bursting of water tanks and bursting of water tanks. People who live in areas that experience heavy rainfall should preferably go for coverage against water-induced damage. It must be noted that damage due to unresolved maintenance problems like rusty pipes or plumbing issue might not be covered in many cases, it is advisable to refer to the policy wording.
2. Coverage against fire-induced damage
When a home catches fire, it indeed leads to irreversible damages, creating a huge hole in your pocket. Hence, it is advisable to have coverage against fire-induced damage along with your home insurance policy as it covers damage caused due to a fire-related accident. However, no coverage are provided for damages caused to the property insured by own natural fermentation, heating, spontaneous combustion. Also, damages caused to the property by the heating and drying process cannot be treated as damage due to the fire.
3. Coverage against damage caused because of ground activity
A ground activity like an explosion caused due to mining activity or road construction activity near your home can lead to damages. Hence, it is advisable to have coverage for damage caused due to ground activity. Natural calamities like an earthquake which leads to ground damage and thereby cause destruction to home are covered by standard home insurance policy.
4. Coverage for storms & cyclones
Some natural disasters are indeed unpredictable, and it is preferable to purchase coverage for storms and cyclones, which can lead to severe home damage, thereby causing financial burden. People who live on a hilly area or near sea coast can go for this coverage as these places are more prone to tsunami, cloud bursts, and other natural disasters.
5. Coverage against man-made problems and damages
Man-made problems can lead to severe financial losses by damaging your home. Mostly external factors like socio-political situation are beyond our control which can lead to stroke or riot or any sort of violence that cause damage to the structure of your home. By opting for coverage against man-made problems, you can get cover for losses you have suffered, subject to the sum insured. Apart from the coverage discussed above, you can also opt for other add-ons along with your home insurance policy. These add-on coverage are portable electronic equipment cover, jewellery and valuables, public liability, pedal cycle and terrorism cover. HDFC ERGO offers jewellery and valuables add-on cover that provides insurance cover to your jewellery and other valuables such as sculptures, watches, paintings, etc. In addition, you can avail other attractive add-on home insurance coverage while opting for HDFC ERGO home insurance policy.
Conclusion
Whether you are an owner or living in a rented apartment, it is wise to have a home insurance policy to secure your home structure and its content. Tragic incidents like fire breakdowns, earthquakes, riots, terrorist attacks, etc, are unpredictable and can drain years of income in a fraction of seconds. Hence, it is advisable to have property insurance with ideal home insurance coverage to meet your requirements. With HDFC ERGO home insurance policy, you can cover home belongings worth up to Rs 25 lakhs and get attractive discounts up to 45%.
Disclaimer:The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.
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