Know What Your Home Contents Insurance Covers

Posted on: Mar 25, 2022 | 3 mins | Written by: HDFC ERGO Team

Know What Your Home Contents Insurance Covers

A home insurance policy is an ultimate protective gear that you can add to your home. Amidst protecting the walls and floors of your home, do not forget to add the extra hint of safety via a home insurance policy. Purchasing a home is a massive achievement, so do not leave any stone unturned to make it your ultimate safe place. A home content insurance policy, in simple terms, provides coverage to the precious belongings that you keep inside your home.

Home content insurance primarily provides the cost of repairing or replacing these precious items if they are damaged in fire or natural disaster or stolen. Although a bank locker may seem like an alternative, not all your precious belongings can be kept in a locker. So, to stay tension free and relaxed, you must have a home insurance policy that covers all these items.

Let's understand what all a home content policy covers.

1. Fire:

In a sudden situation if a fire arises and causes damage to the contents of the house, the repair/ replacement will be covered by your insurance company.

2. Accidental Damage:

Any unintentional harm that comes to the house’s contents will be covered.

3. Other Damages:

Damages to the contents of the house that may be caused due to lightning, overflowing or bursting of water tanks etc. will be covered.

4. Theft and Burglary:

A theft can cause lots of financial loss, just like a terrorist or anti-social activity. Such a loss will be covered by your insurance provider.

What falls under home content insurance?

Many items fall under the home content insurance, and before you make the purchase, you must have a look at it. For the best possible benefits, make a list of all the items you want protection and coverage for. Check out the list below and make sure your preferred items are covered.

● Jewellery and Precious items:

Jewellery and gem stones are not only precious but also are close to the owner’s heart. These are the things you don't often buy and need extra care and attention. A home content cover can offer the much-needed special protection.

● Fixtures and Furniture:

Fixtures and furniture are not just utilities but also add aesthetic to your home. Your sofas, beds, wardrobes and other items if stolen or damaged, will be compensated for.

● Electronics:

There are several electronic items in a home such as TV, fridge, microwaves, dishwashers, vacuum cleaners, washing machines etc. that make life easy and comfortable. These are not just essential items but are also quite hefty and are covered under home content policy cover.

● Property of live-in employees:

Your live-in employees and guests living in your house can also get the benefit of this cover. Their belongings are also covered under this policy.

● Gadgets and Cellphones:

Apart from bigger electronic items, portable gadgets are also expensive and require coverage. Gadgets including mobile phones, laptops, cameras, gaming consoles, tablets, etc. are indeed essential items, that are also covered under home contents cover.

● Cycle:

A pedal cycle is another item that is included in the home contents cover and is covered in case of any damage or loss.

● Other Items:

Apart from the items mentioned above, ther are a number of items that are included such as sanitary fittings, electrical fittings, cutlery, crockery, clothing, drapery, artwork etc.

These are some items that are likely to be covered under home content insurance. Jewellery and precious metals are at the forefront of risk, which is why they are sure to be included. Other than this, cell phones or smartphones are apparent to be in every home, and they are one of the essentials of everyone's life. So, this policy also covers cell phones. Other than this, some of the property of your guests and live-in employees are also covered.

What does not fall under home content insurance?

A single policy cannot cover everything, and this is one fundamental fact about every insurance policy. To this, home content insurance is no exception.

Let's see what all does not get covered under a home content insurance policy:

● Animals

● Motor vehicles

● Properties that are already insured.

Do not confuse Home Insurance with Home Content Insurance:

Home insurance policy and home contents cover must not be confused as these are two different policy covers. Although they might sound the same, they provide different coverage. On one hand, a home insurance policy covers the structure of your home. In case the structure of the building is damaged, this policy provides the needed aid to repair or replace the building. A home content policy, on the other hand, covers the precious movable items you keep inside your home like furniture, electronics, jewellery, etc. These are the items that can be taken to elsewhere, unlike the home structure.

Conclusion

A home contents insurance is an intelligent decision to keep their belongings safe and secure inside the home, and it is like a safe lock that is inside your home. Purchasing new jewellery can be pretty hefty, and you may not do so once lost, but it becomes possible and more manageable when you have home contents insurance. So, if you have not purchased yet, do not wait and bring a home contents insurance cover for your home.

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

• Identifying the Differences between Home Structure and Content Insurance

• 5 ADD-ON YOU SHOULD OPT FOR YOUR PROPERTY INSURANCE

• PROTECT YOUR HOME FROM THEFT AND BURGLARY WITH ADD ON COVERS IN INSURANCE