Know About Your Home Insurance Benefits
When incessant rains hit Chennai in December 2015, the city was devastated by floods which disrupted regular life. Due to the submergence of the lower floors of the apartments and the alarming level of invading water in the rooms on the upper floors, the level of property damage was catastrophic. A conservative estimate of the damage caused by the floods is a total of Rs. 20 thousand crore! While the people who insured their homes breathed a sigh of relief, others were disappointed by the astonishing bills due to property damage.
Events were a rude wake-up call for people who had never taken home insurance very seriously before. It's not just floods that protect your home, but also a whole host of other natural disasters like earthquakes and storms and risks like fires, thunderstorms, explosions etc. Home insurance has become an absolute necessity to protect your home and family from the consequences Of these events.
Types of Home Insurance Coverage
Home insurance is a comprehensive insurance package that offers a variety of plans and related coverage. But you must be wondering, "What kind of home insurance coverage do I need?" Read on to find out!
- STANDARD FIRE AND SPECIAL PERILS: This cover protects the insured home against damage and loss due to fire in addition to other natural disasters like thunderstorms, storms, landslides, floods, earthquake coverage. Other risks such as explosions / explosions, riots, strikes and contaminated damage are also covered.
- THEFT & BURGLARY COVER: These policies cover theft, larceny and burglary of contents from the insured premises. Please note that jewellery and valuables are not covered under this policy.
Home Insurance Benefits with HDFC ERGO
When you choose HDFC ERGO for your home insurance needs, you are entitled to exclusive benefits that will ensure you a hassle-free process and complete peace of mind. The store has only a few benefits:
Provision to increase the sum insured by 10% per annum
5 years long term coverage for homeowners
Up to 25% discount on security features and additional 15% for theft features
Tax rebate on premium for homeowners paid as a home insurance tax benefit