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What is Villa Insurance?

Villas are all about luxury and exclusivity, highlighting a sense of elegance and the rich taste of its owner and residents. If you have invested in a villa as your choice of residence, don’t forget to secure it against possible risks with a proper villa insurance policy. As villas are designed to be more luxurious, they cost more to build, buy and maintain than a normal house. Hence, if its structure or contents get damaged, it can take a massive toll on your personal finances to get it fixed and back in shape. In this case, villa insurance can offer financial assistance to help you take care of your damages and losses without hurting your pocket.

The villa insurance policy is a valuable financial instrument that secures your home structure and/or contents against possible damages and losses caused by fire, floods, theft, natural or man-made disasters, etc. It offers you peace of mind and financial security by letting you promptly fix the losses and damages caused to the villa structure and/or its contents by any insured peril. HDFC ERGO offers affordable villa insurance plans alongside practical add-ons and features that can come in handy.

Benefits of Villa Insurance

There are multiple benefits to having a villa insurance plan for your villa. Following are some of its major advantages;

Benefits	Details
Comprehensive coverage	The main benefit of villa insurance lies in the extent of coverage it offers. This policy can secure your villa structure and/or its contents against unforeseen loss or damages in the events of accidental fire, accidental damage, burglaries & theft, etc. You can also extend the protection by adding optional covers to the plan.
Financial security	A key advantage of investing in villa insurance is the financial security it offers. In case of damages or losses to the villa structure and/or its contents caused by an insured peril, you will be financially compensated. It lets you take care of your losses without hurting your own pocket.
Handles liabilities	The policy also offers protection in case of liabilities. So, if somebody gets hurt in an accident on your property, the villa insurance will cover the expenses arising out of litigation and damages.
Effective management	The coverage under villa insurance lets you deal with the damages or losses effectively and promptly. In addition, it can cover the temporary living expenses in the event your villa becomes uninhabitable due to an insured peril. This ensures that you have a roof over your head until your villa is ready for accommodation again.
Peace of mind	Villa insurance assures that your villa structure and/or belongings are protected against damages or losses caused by unfortunate events. Knowing you will be financially covered against such events gives you the peace of mind you need.
Handles both natural and man-made hazards	No matter how cautious you are, man-made hazards, like terrorism, riots, vandalism, etc., and natural calamities, like earthquakes, floods, etc., are often unpredictable and may cause severe damage to your villa structure or its contents. Hence investing in villa insurance is beneficial as it also offers protection against such man-made and natural calamities.

Key Features of Villa Insurance

The villa insurance policy offered by HDFC ERGO comes with tons of valuable features. Some of the key ones are mentioned below;

Key features	Details
Home structure coverage	Coverage Upto 10 Crores**
Home contents cover	Coverage of up to INR 50 lacs
Add-ons	Features 5 useful add-ons
Discounts	Effective discounts of up to 45%*

**Note: The total sum insured cannot exceed 10 Crore including the structure & contents

Best Villa Insurance Plans by HDFC ERGO

Following are the best villa insurance plans offered by HDFC ERGO;

For Tenants

Individuals who are living in a villa as tenants can opt for this villa insurance plan. With this policy, they can secure their belongings against possible damages or losses caused by any insured peril. Note that this plan doesn’t offer coverage for the villa structure.

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For homeowners

Individuals who own their villa and want to protect it from possible risks can opt for this villa insurance insurance plan. As the owner, they will be able to choose coverage for the villa structure and/or its content with this plan..

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Understanding Coverage Offered by Villa Insurance

What’s Covered?
What’s Not Covered?

Fire Accidents

Fire accidents can cause serious damage to your villa structure and its contents. In such events, you can rely on villa insurance for financial compensation.

Thefts and burglaries

Any damage or financial loss you face due to an event of theft or burglary at your villa will be covered under villa insurance as per policy.

Electrical Breakdowns

In the event of electrical breakdowns, the policy may cover the sudden expenses that arise as a result of the mishap.

Man-made Hazards

Man-made hazards, like strikes & malicious damage, riots, terrorism (optional), etc., can also cause severe damage to your villa and its contents. Financial losses arising out of such situations are also covered under the policy.

Alternate Accommodations

Under the alternative accommodation clause**, the policy may cover the temporary living expenses in case your villa becomes unfit for living due to an insured peril.

Accidental Damage

Villa insurance covers losses caused by accidental damage, providing a layer of protection for your belongings, fixtures & fittings, and so on.

Natural Calamities

Natural calamities, like floods, earthquakes, cyclones, etc., often come unannounced and wreak havoc. The villa insurance covers damages or losses caused to the villa structure and/or its contents by such natural events.

War

The villa insurance plan doesn’t offer coverage for loss or damages that are a result of war, hostilities, invasion, etc.

Precious Collectibles

The policy doesn’t offer coverage for any damage to precious stones, stamps, bullion, coins, and other collectable items.

Old Content

We understand the emotional value of your cherished possession, however, the policy doesn’t offer coverage for anything older than 10 years.

Consequential Loss

The policy will not entertain claims in case of losses that are not, in the usual course of things, the natural outcome of the breach.

Willful Misconduct

Damages or losses arising out of wilful misconduct remain excluded from the villa insurance policy.

Third party construction loss

Loss arising due to damage caused by third-party home construction remains uncovered under villa insurance.

Wear & Tear

Loss arising out of wear & tear, slowly developing flaws or general deterioration are not covered.

Cost of Land

Under circumstances, villa insurance shall not offer coverage for the cost of land.

Under construction

The villa insurance policy doesn’t offer coverage for under-construction buildings.

Add-On Coverage Under Home Insurance Plan

With villa insurance from HDFC ERGO, you can pick from a selection of 5 add-ons to extend your overall coverage. These are;

Jewellery & valuables cover

With this add-on, you can get coverage for your jewellery and other valuables, like paintings, watches, sculptures, etc. So, in case of damage or theft of your valuables or jewellery, it will offer you adequate financial compensation as per policy.

Pedal cycle cover

This add-on covers any loss or damage to your exercise bike or bicycle caused by unforeseen events like accidents, fire, theft, and man-made or natural calamities. In case of an accident, this add-on can also cover third party liabilities caused by the insured bicycle.

Public liability

This add-on under HDFC ERGO’s villa insurance policy offers a sum insured of up to INR 50 lakhs in case of any damage or injury occurring to a third party property or individual on account of your villa.

Terrorism cover

In case of damage occurring to your villa due to a direct terrorist attack or from defensive measures taken by security forces, this add-on will help cover the losses.

Portable electronic equipment cover

The portable electronic equipment inuadd-on under HDFC ERGO’s villa insurance protects your valuable electronics, such as cameras, laptops, etc., against damages by covering the cost of repair or replacement as per policy.

How to Buy Villa Insurance from HDFC ERGO?

Here are the steps you need to follow in order to buy villa insurance from HDFC ERGO online;

1. Visit the HDFC ERGO villa insurance page and click on “Buy Now”,

2. Choose between villa cover for the owner or tenant and pick what you want to cover (structure and/or contents),

3. Provide your contact number and email address and press “Continue”,

4. Enter the details of the structure and/or content and pick the sum insured value,

5. Then, choose policy tenure and additional cover (as required) and click “Proceed”,

6. Provide additional details as per policy requirements and move to the payment section,

7. Complete online payment of the villa insurance policy premium to finish up the process.

How to Renew Villa Insurance from HDFC ERGO?

Here are the steps that you need to follow to renew your existing villa insurance policy from HDFC ERGO;

To renew existing condo insurance from HDFC ERGO, here are the steps you need to follow;

1. Go to the HDFC ERGO official website,

2. Navigate to the “Renew” section and log in by entering the policy number of the existing property insurance plan or your registered email ID or mobile number,

3. After logging in, select the plan you wish to renew,

4. Verify the policy details and make any necessary changes that you want,

5. Pay for the policy renewal online to complete the process.

How to Make a Claim for Your HDFC ERGO Villa Insurance?

You can make a claim for your HDFC ERGO villa insurance by following these steps;

1. Contact the insurer for claim registration/intimation by dialling 022 6158 2020 or by sending an email to care@hdfcergo.com.

2. After registering your claim, kindly wait for and follow the instructions of the personnel from our team.

3. Upload the necessary documents for the villa insurance claim process, which may include a duly filled claim form, policy or underwriting booklet, invoices of repairs & replacement expenses attached with payment receipt, photographs of the damage, FIR (if applicable), etc.

4. After submission, our team will evaluate your request and settle the claim accordingly.

Why Do I Need Villa Insurance?

Your dream home and cherished belongings have a value that goes beyond any monetary worth. Keeping this in mind, you should also understand that they are not shielded from damages and losses caused by unanticipated events that are beyond your control, such as fire accidents, theft & burglaries, man-made and natural calamities, etc. Such events can cause significant emotional and financial distress. While villa insurance can’t help recover the lost emotional value, it can surely offer fair financial compensation for the damages and losses caused to your villa structure and/or its contents by an insured peril. It helps fix things to bring your luxurious abode back in shape without draining a hole in your pocket. It can also cover liabilities and offer extended coverage via add-ons, making it even more useful and practical to have.

Villa vs. Apartment

Following are some main differences between a villa and an apartment;

Parameters	Villa	Apartments
Cost	Villas are expensive to buy or rent and are considered a luxury investment.	It is generally more affordable to get an apartment, especially for those on a tight budget.
Luxury factor	Villas can be stacked with personalised, high-end amenities for private use.	Apartments also come with a decent range of amenities but they are for shared community use.
Maintenance	Villas require more maintenance and it is the responsibility of the villa owner or its residents.	Usually, maintenance of apartments is the responsibility of the building manager.
Privacy	Villas offer more privacy as they are high-end standalone residential properties with private space and amenities.	Apartments often include shared common areas, such as parking spaces, elevators, hallways, etc.

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Frequently Asked Questions on Villa Insurance

1. What is covered under villa insurance?

Under villa insurance, you can cover the villa structure and/or its contents against damages and losses caused by unforeseen events. Some of its inclusions cover losses caused by theft & burglaries, fire accidents, accidental damage, natural and man-made hazards, etc.

2. Are home contents covered in villa insurance?

Yes. You can buy villa insurance that covers either just home contents or both home contents and home structure.

3. How to buy insurance for your villa online?

You can buy villa insurance online by simply visiting the official website or app of your preferred insurer, and completing the necessary steps for the policy purchase. You can buy villa insurance from HDFC ERGO via the official website or app.

4. How to claim insurance for your villas?

To claim villa insurance, kindly register a claim with the insurer, provide the necessary documents, and follow their instructions. Once your claim is registered, it will be evaluated and processed accordingly.

5. What are the benefits of having insurance for your villas?

There are many benefits of having insurance for your villa, such as comprehensive protection for your villa structure and/or belongings, coverage for liabilities, peace of mind, financial protection, etc.

6. If anything happens to my property and I am not able to stay in it will you give me alternate accommodation ?

We do cover you for alternate accommodation in case of structural damage to your home, so we cover you for moving and packing, rent and brokerage for alternate stay.