Home Insurance

Use carpet as measure area to determine the sum insured

Every year, the monsoon season takes a toll on houses. So, how do you protect your biggest treasure? The answer is home insurance

Revise your sum insured periodically so that it keeps pace with inflation

The insurance regulator mandated all general insurance companies to offer Bharat Griha Raksha(BGR), a standard insurance policy which provides cover against fire, floods, explosions, storm, cyclone

Do not start a flooded car as it could cause further damage that may not be covered by your motor policy

This will ensure the insurer pays an amount adequate to restore the damaged house to its original state

A standard policy is simpler and makes premium comparison across insurers easier

There are three main components of an insurance policy: premium, sum assured and deductibles

Fortify yourself further by purchasing adequate insurance cover for the building and its contents

Only then can one arrive at an appropriate sum insured

When truthful answers are not given, it constitutes a breach of good faith, entitling the insurer to treat the policy as void

Here is how the home insurance premiums offered by various insurance companies stack up

Here is how the home insurance premium rates offered by various companies stack up

Here is how the home insurance premiums offered by various companies stack up

Here's how the home insurance premiums offered by various firm stack up

Here is how the home insurance premiums charged by various companies stack up

Here are the premium rates for top eight insurers offering home cover of Rs 1-crore structure, plus Rs 25 lakh on contents

When buying a home insurance cover, opt for reinstatement value as the sum insured

The beneficiary needs to ensure that the property records are mutated to clearly establish ownership

Some home insurance covers offer this cover as part of the main policy, while in case of some it has to be purchased as an add-on