Home Content Insurance

Why Home Content Insurance?

Nowadays many home insurance companies in India are providing different home and contents insurance plans focusing on the valuable items that are necessary. A home belonging or a home content insurance is specially designed to protect your home's hard-earned valuables.

There are also many plans that protect your home contents comprehensively with additional benefits; however, the exact coverage will depend on your plan provider. Most home content coverage is applicable on items like clothes, jewelry, furniture, and electrical goods. This facility is extended to rented homes as well, or if you decide to move your house.

Benefits & Features of Home Content Insurance

Everyone dreams of having their own house at some point. Your property is valuable and thus, it should be protected. Here are some features that many home content insurance covers provide:

• Covers Most Valuables: Covers almost every valuable like electrical appliances, jewelry, portable pieces of equipment, etc.
• Flexible Tenure: The tenure ranges from 1-5 years and you can buy a plan according to your needs and requirements
• Contents Insurance for Renters: People who are living on a rented property can also get covered for damages to their home belongings
• Vast Coverage: The home belonging insurance provides a wide scope of coverage in case of fire, natural calamities, theft, breakdown of pieces of equipment, or accidental damages
• Genuine Reimbursement: Many plans are available based on the indemnity depending on the age of the value to give you maximum benefits

Inclusions under Home Content Insurance

Given the vast nature of valuables, many companies have several unique benefits that they offer. Some of the common coverage extents are given below:

• Damages caused due to fire, explosions, or implosions
• Offers coverage benefits against damages caused by natural calamities like earthquakes, volcanic eruptions, lightning, etc.
• There are also additional perils like cyclones, tempests, Tsunami, floods, hurricanes, and more
• Some plans also offer cover for loss caused by riots, strikes, and other malicious damages
• Damages due to bursting or overflowing of water tanks and other apparatus
• Loss due to theft or burglary
• Many plans over coverage for portable pieces of equipment like mobile phones, portable computers, pedal cycle, etc.
• Some plans have a specific cover for valuable content for which the insurer will pay you the agreed value
• Some plans offer coverage for fine arts items

Please note that this list is not exhaustive nor applicable to all the policies. For exact coverage go through the policy wordings.

Exclusion under Home Content Insurance

In many cases, a home and contents insurance plan will not provide any reimbursement or other benefits:

• Damages caused to war, invasion, or foreign hostilities
• Property damage due to pollution
• Loss caused by gradual deterioration and every day, eruptions tear or slowly developing flaws
• Damages because of willful destruction of property or due to own misconduct or negligence
• Damage or destruction to any electrical apparatus or fixture because of overuse, excessive pressure, leakage of electricity
• Loss of any insured belonging which has been mislaid or removed from your home to another place

How to File a Claim for Home Content Insurance?

In case of any unfortunate events that may result in damage or loss of your home valuables, immediately contact your insurer so that you know how to prepare for the claim procedure. As inconvenient it may be, try to notify your insurance provider about any damage or loss as soon as you discover it. You can do so through their emergency helpline or the registered email ID.

Make sure to keep the necessary documents handy so that you can raise a claim.

The company may require evidence and explanation to substantiate the claim for which you may produce your own invoices, vouchers, etc. There will be investigators/surveyors appointed by your insurer who may require your absolute assistance to carry on with the proceedings.

The most commonly required documents are given below:

• Duly filled claim form
• KYC Documents
• FIR (First Information Report)
• Any media reporting of the incident
• Fire Brigade Report in case of fire
• Invoice/Receipts/Purchase Bills
• Photographs
• Any other document required as per the nature and type of claim

Most insurers pay for the damages by reimbursing the cost of repairs or by providing the cost of the lost item at the mentioned sum insured.

Home Content Insurance Renewal

Depending on the tenure of your household contents insurance, you can get your plan renewed. The cover is offered for anywhere between 1 to 5 years which depends on the plan and insurer you are opting for.

You can renew the policy by visiting your insurance company's website and logging into your existing account. Make sure to keep your policy number ready. After paying for the policy online, your policy will be renewed.

Why Buy Content Insurance from Policybazaar?

Nothing speaks louder than numbers; with millions of Indians trusting and using our site, here are some reasons to buy home belongings cover from Policybazaar:

• Compared to offline hassles, online home insurance products are cheaper by as much as 50% and offer you a hassle-free purchase without spending on intermediaries.
• You can make an informed choice by comparing multiple plans and see for yourself which one suits your budget and needs most.
• Thanks to our reliable forums and reviews, you can easily check a company's reputation and important factors like their claim-settlement ratio, customer experiences, and a lot more.
• Buy policy without any misinformation or half-truths. At Policybazaar, you can buy the best policy with complete transparency