Best guide to buy home insurance company policy
Best guide to buy home insurance company policy
Home insurance also protects against natural calamities like flood, fire, landslide, earthquake, etc.,
Home insurance provides home cover against risks like theft, burglary, strike, riots, etc.
In this article, I will explain to you some of the best insurance companies for homes, which provide you a good cover.
Best home insurance company policy in India
- Bajaj Allianz company policy
- Bharti AXA Home Insurance
- New India Assurance Home Insurance
- Oriental Home Insurance
- SBI General Home Insurance
1- Bajaj Allianz best home insurance company policy
This company is the major insurance sector in travel, health, motor, etc.
But it also provides home insurance plans to its customers. There is no doubt that it is a good insurance company.
If we talk about home insurance, even this company comes in the best home insurance company.
Let’s Know about its main features.
- Provides cover for damages or damages caused to buildings under their policy
- It provides coverage for damages to household items like fridges, washing machines, etc.
- It also provides coverage for portable devices like laptops, desktops, etc.
- This policy also contains cover for damages caused to jewelry and other valuables.
- You also get cover for damages then there is any damage to your art or painting items in your home.
2- Bharti AXA best Home Insurance company policy
About 166,000 employees in Bharti AXA, the company serves nearly a million customers across the globe.
Bharti AXA Home Insurance offers a good policy. It provides coverage for protection against any force majeure.
Let us know about some of their main features.
- The cover provided for damages caused to the structure and contents of the building.
- It also provides cover for damages caused to jewelry and other valuables.
- It also provides insurance to tenants and landlords.
- It also provides cover for a personal accident of you and your family then you will get coverage for your pets as well.
3- New India Assurance best Home Insurance company policy
New India Assurance is a government insurance company. It also offers two-wheelers, cars as well as health insurance, and home insurance plans.
In this, the cover protects the policyholders for the home from risks and damages, such as fire, damages, natural calamities, and theft, etc.
Know the salient features of their policy:
- In this policy, the house also provides cover against various types of risks.
- In this, both the tenant and the landlord can buy this policy.
- It also provides coverage for damages caused to household contents and buildings.
- A policyholder can get Rs. 10 lakh cover for damages.
4- Oriental best Home Insurance company policy
Oriental Insurance Company is a public sector general insurance company. This company provides cover against natural calamities and damages caused by calamities.
Know the salient features of this policy:
- In this policy, you get options like discounts, protection arrangements, clauses in the policy for a longer period.
- It protects against fire and related hazards.
- It is a comprehensive plan that provides you with cover for all risks.
- You will get personal accident cover for the policyholder, spouse, and family.
5- SBI General best Home Insurance company policy
This company has a good network which provides its service all over India. It also offers motor, health, travel, and accident insurance plans.
Key Features of SBI Home Insurance Policy are:
- It provides built-in coverage for earthquake damage.
- In their policy, the policyholder gets three years to 30 years.
- It also provides coverage for damages caused to the home of the policyholder.
- It also provides cover for damages caused by natural and man-made calamities.
- The amount of premium depends on the tenure and location.
6- FAQ /Frequently Asked Questions
Q.1. What is First Loss Basis?
It is just a concept. Whan the cover will be issued as per this claim only if the value of the whole property is much more than the entire property of the policyholder.
Q.2. What does floater basis mean?
It is a kind of structure, which the sum insured is also available to the spouse. In this, a certain sum insured can be used by both husband and wife.
Q.3. What are the conditions to buy Oriental Home Insurance?
You must inform the company of the full value of the material for which you seek insurance.
The amount you have to claim will be only 10% of the plan amount.
You can choose Plan A, B, and C for yourself.
Q.4. Can we take insurance policies from two companies?
Yes, you can get home insurance from two companies, the advantage of this is that both these companies provide you cover at the time of need.
Q.5. What are the most common exclusions for any home insurance policy?
Most home insurance exclusions are generic. You must read and understand the wording of your insurance policy carefully so that you do not have trouble later, and You have to be aware of what is not covered.
Note- that items like jewelry, silverware, money, etc. will also have limits.
- The home insurance policy exclusions are as follows:
- Do not provide cover for animals, birds, and other animals.
- It also does not cover willful damage or bodily injury.
- It also does not cover damages caused by earthquakes.
- War, nuclear damage, etc.
- Trade property and automobiles.
Q.6. What do we have to deposit in case of theft?
The following documents have to be submitted:
- An invoice for the value of the stolen goods has to be submitted.
- Cost of replacement of stolen items.
- First Instance Report (FIR).
- Duly filled claim form.