Few things in life
matter as much to you as your home. After all, its at the heart of your family,
your possessions, your priceless investment and your memories.
Now with HDFC ERGO
Home Insurance Policy, you can ensure for your home the trusted protection it
deserves.
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.
Read on to find out
how you can benefit from affordable coverage for your property and possessions
against almost any eventuality.
KEY
FEATURES.
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.
Section II : Burglary and
Housebreaking
Burglary cover for
Contents cannot be opted for on a stand alone basis.
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 is however would
not include the cost of the land. The reconstruction cost is based on two
parameters which are mentioned below:
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Built– up area of
the house (square feet)
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Cost of
Construction in your area/locality
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You would have to
multiply the built up area of the house with the cost of construction to
arrives at the reconstruction cost.
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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 jewelery, you would not have to deduct depreciation.
Once you have decided
the sum insured for the structure as well as contents simply choose the closet
sum insured value and arrive at the premium.
WHO CAN
APPLY FOR THE POLICY…
This policy is designed
for:
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Individuals
residing in flats or independent houses provided that the external walls are
of burnt
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bricks/ stone /
concrete blocks and RCC / RBC / Tiles / ACC roof
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Home owners or
tenants (can opt only for the contents cover for fire as well as burglary)
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WHEN
WILL THE POLICY NOT PAY…
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Willful destruction
of property
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Loss or damage
caused by depreciation or wear and tear and consequential loss of any kind
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Loss or damage
contributed to by nuclear weapons material ans/or lonizing radiations
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Loss or damage
arising from any consequences of war, invasion, act of foreign enemy,
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hostilities etc.
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(For a detailed list
of exclusions, kindly refer our policy wording)
WHAT TO
DO IN THE EVENT OF A CLAIM…
In the event of any
claim, call on our toll-free helpline 1800-2-700-700 to register the claim at
the earliest with the details of the nature of loss, location of loss, amount
of loss (approx. estimation) and policy number for reference
Once we receive full
and final documentation, we would process the claim with prompt turn around
times.
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Thanks for sharing the blog, seems to be interesting and informative too. home insurance plans
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