Home Insurance
Few things in life matter as much to you as your home. After all, it’s the heart of your family, your possessions, your priceless investment and your memories.
Now with HDFC ERGO Home Insurance Policy, you can ensure the trusted protection for your home. Importantly, it is brought to you by HDFC, a name synonymous with “home” to millions across India, and ERGO, one of the world leaders in non-life insurance solutions. Get affordable coverage for your property and possessions against almost any eventuality.
What is Covered
Section I : Fire and Special Perils (a) Building (b) Contents
Covers Against
Fire/ Lighting/ Explosion/ Implosion/ Aircraft Damage/ Riots, Strikes and Malicious Damage/ Storm, Cyclone/ Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation/ Impact Damage/ Subsidence and Landside including Rockslide/ Bursting and/ or Overflowing of Water Tanks, Apparatus & Pipes/ Missile Testing Operations/ Leakage from Automatic Sprinkler Installations/ Bush Fire/ Earthquake, Volcanic Eruption & other Convulsions of Nature, Terrorism (Optional).
Section II : Burglary and Housebreaking
How Much to Insure
The sum insured for the structure of the house is based on the Reinstatement Value. Quite simply, it would be the reconstruction value for the structure is determined by the construction cost. This however would not include the cost of the land. The reconstruction cost is based on two parameters which are mentioned below:
- Built– up area of the house (square feet)
- Cost of Construction in your area/ locality
- You would have to multiply the built up area of the house with the cost of construction to arrives at the reconstruction cost. Reconstruction Cost = Built – up area of the house * Cost of construction in your area/ locality.
- Contents/ Valuables : The sum insured for Contents/ Valuables is based on the market value. Market Value would mean he current cost minus an allowance for depreciation, in the event of loss/damage. For jewellery, you would not have to deduct depreciation. Once you have decided the sum insured for the structure as well as contents simply choose the closest sum insured value and arrive at the premium.