How Much Will Building Insurance Cost?

Posted on: Nov 22, 2024 | 3 mins | Written by: HDFC ERGO Team

How Much Will Building Insurance Cost?

A major question homeowners have is how much the cost of insuring they're building will be. Whether you're building a house from scratch or purchasing one, the cost is going to be a lot. Therefore, it is a good idea to insure the building with the Bharat Griha Raksha Policy and protect it against any potential damages. The policy offers protection against a wide range of components which gives homeowners peace of mind about the safety of their house.

What are the Benefits of Getting Home Insurance?

Having a home insurance can offer a wide range of benefits, such as the following:

1. Apart from the home, contents up to Rs 25 lakhs will be covered in the policy. You don't have to share any specific list of home belongings to avail of these benefits.

2. Secure your home with a great discount offering 45% on the property insurance. These discounts vary across different areas like intercom discounts, long-term discounts and salaried discounts.

3. You have the flexibility to choose the tenure for home insurance ranging between 1 year to 5 years.

4. The portable electronic devices will also be covered by the insurance. However, equipment over 10 years will not be covered in the policy.

What is the Building Insurance Cost?

The building insurance cost varies significantly, depending on a number of factors. So, it is slightly difficult to confirm the cost. However, the different factors affecting the cost will be:

1. The number of floors in the building.

2. The age and structural aspect of the building.

3. The place where your building is located.

4. The type of security that your home has. (This is important for considering theft)

5. The number of belongings that you have in the house which you want to cover.

6. The total value of the home.

Property insurance offers peace of mind and relief offering coverage to your property and its belongings. From the roof to the foundation every aspect will be covered which will bring about complete benefits for the homeowners.

FAQs

1. What is the cost of building insurance?

The cost of building insurance will depend on a wide range of factors. Bharat Griha Raksha Policy offers extra protection to the belongings of your house which eventually affects the pricing.

2. How to calculate the premium on property insurance?

Consider various factors like the type of property, number of content in the house, total value and more to determine the premium for a particular insurance.

3. What will the building insurance do?

A building insurance will offer protection to your house in case of any natural calamity like flood, fire and more. As accidents often happen, getting your house insured is only going to safeguard it.

Conclusion

While getting home insurance, you will have to check all the important aspects to apply for it. Make sure that you have all the documents in place when you're applying for the insurance. It is advisable to maintain complete transparency while applying for Bharat Griha Raksha Policy so as to get maximum advantages and avoid any potential damage to the property.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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