Home Insurance
What is Home Insurance?
Home insurance is a financial safety net designed to protect your most valuable asset—your home.
Whether you own a villa, an apartment, or are living as a tenant, home insurance provides coverage
against unforeseen damages caused by fire, lightning, burglary, or natural disasters like floods and
earthquakes. It doesn't just cover the structure of your house; it also protects the precious belongings
inside, including furniture, electronics, and appliances.
A comprehensive home insurance policy ensures that you are not left with a massive financial burden in
the event of a catastrophe. It can even cover temporary resettlement expenses if your home becomes
uninhabitable due to a covered peril. With DigiAssure, you get a tailored plan that fits your needs,
giving you the peace of mind that your sanctuary and everything in it are shielded from life's
uncertainties.
Types of Home Insurance
1. Structure Insurance
This plan covers the physical structure of your home, including the walls, roof, floors, and permanent fixtures. It protects against major damages caused by fire, earthquakes, storms, and other natural calamities, ensuring the foundation of your home is always secure.
2. Content Insurance
Ideal for both homeowners and tenants, this policy protects the belongings inside the house. This includes furniture, electrical appliances, clothing, and other personal items against theft, burglary, and accidental damage, ensuring your lifestyle remains uninterrupted.
3. Comprehensive Home Insurance
A complete protection package that covers both the building structure and the contents within. It offers the widest range of protection, including add-ons like temporary resettlement cover and public liability, providing holistic security for your entire property.
4. Tenant's Insurance
Specifically designed for people living in rented accommodations. Since the landlord usually insures the building structure, this policy focuses exclusively on protecting the tenant's personal possessions and providing liability cover during their stay.
Key Features of Our Home Insurance
Fire & Allied Perils
Protection against damage caused by fire, lightning, explosion, and implosion.
Burglary & Theft
Coverage for loss or damage to your home and belongings due to break-ins or theft.
Natural Calamities
Comprehensive cover for damages from earthquakes, floods, storms, and landslides.
Contents Coverage
Protection for your valuable appliances, furniture, and personal electronics.
Alternative Accommodation
Coverage for rent or hotel stays if your home becomes uninhabitable due to damage.
Public Liability
Protection against legal claims if a third party is injured on your property.
Structure vs Comprehensive Policy
Choose the right level of protection for your home and lifestyle.
| Feature | Structure Only | Comprehensive Cover |
|---|---|---|
| Building Foundation & Walls | Yes | Yes |
| Permanent Fixtures | Yes | Yes |
| Furniture & Electronics | No | Yes |
| Jewellery & Valuables | No | Optional |
| Burglary Protection | No | Yes |
| Resettlement Expenses | No | Yes |
| Public Liability | No | Yes |
| Premium Cost | Lower | Higher |
| Best For | Under-construction/Bare homes | Occupied/Fully furnished homes |
Home Insurance Coverage
Understand the inclusions and exclusions of your home protection plan.
What Home Insurance Covers
Understand what your home insurance policy covers for complete protection
- Fire and Lightning damage
- Earthquake and Floods
- Burglary and Attempted Theft
- Impact damage by vehicles/animals
- Riot, Strike, and Malicious damage
- Leakage from automatic sprinklers
What Home Insurance Does NOT Cover
Know what situations are excluded from your home insurance coverage
- Normal wear and tear or depreciation
- War, Invasion, and Terrorism risks
- Damage due to wilful negligence
- Loss of cash or currency notes
- Damage to old or unoccupied property
- Nuclear risks and contamination
Home Insurance Add-Ons
Enhance your protection with specialized home add-on covers.
Loss of Rent Cover
Compensates you for the loss of rental income if your property becomes uninhabitable due to damage from a covered peril like fire or flood.
Valuable Items Cover
Provides additional coverage for high-value items like jewellery, watches, and works of art that may exceed the standard content limit.
Keys and Locks Replacement
Covers the cost of replacing locks and duplicate keys if your house keys are lost or your home is broken into.
Pedal Cycle Cover
Extends protection to your bicycles against theft and accidental damage even when they are outside the home premises.
Domestic Appliances Breakdown
Covers the cost of repair or replacement for electrical and mechanical breakdown of appliances like ACs, Refrigerators, and TVs.
Factors That Influence Your Home Insurance Cost
Several factors determine the premium of your home insurance policy to ensure accurate coverage.
1. Property Location
Homes in high-risk zones (earthquake-prone or flood-prone areas) or high-crime neighborhoods may have higher premiums.
2. Age of the Building
Older buildings may require higher premiums due to the increased risk of structural issues or outdated wiring/plumbing.
3. Type of Construction
The materials used for construction (R.C.C. vs. non-R.C.C.) significantly impact the risk assessment and premium calculation.
4. Total Value of Contents
The premium increases with the value of the electronics, furniture, and other belongings you choose to insure inside the house.
5. Security Features
Installing security systems like CCTV, smoke alarms, and high-quality locks can often help reduce your overall insurance cost.
Tips to Reduce Your Home Insurance Premium
Smart strategies to lower your costs while maintaining comprehensive home protection.
1. Opt for Long-Term Plans
Buying home structure insurance for a longer duration (5-10 years) usually attracts significant discounts compared to annual renewals.
2. Improve Home Security
Approved security devices like fire alarms and burglar alarms not only protect your home but also earn you premium discounts.
3. Choose Deductibles Wisely
Opting for a higher voluntary deductible (the amount you pay during a claim) can significantly lower your policy premium.
4. Accurately Value Your Assets
Don't over-insure your contents. Provide an accurate valuation of your belongings to ensure you pay the right amount of premium.
5. Compare Different Plans
Use DigiAssure to compare quotes from multiple insurers and find the best balance between coverage benefits and cost.
Documents Required for Home Insurance
The essential paperwork needed to secure and process your home insurance policy online.
Property Documents
- Sale Deed or Title Deed
- Society Membership Certificate
- Property Tax Receipts
Identity Proof
- Aadhaar Card
- PAN Card
- Voter ID or Passport
Address Proof
- Utility Bills (Electricity/Gas)
- Ration Card
- Lease Agreement (for tenants)
Valuation Report
- Approved valuation from a professional surveyor
- Built-up area details
- Current market construction rate proof
Inventory List
- Detailed list of electronics with serial numbers
- Furniture and appliance valuation list
- Photographs of high-value items
Other Documents
- Existing policy copy (if renewing)
- Photographs of the building (all sides)
- Security system installation certificates
Home Insurance Claim Process – Step by Step
A simple guide to help you through the process of filing a claim for your home insurance.
Immediate Intimation
Inform the insurance company or call our helpline as soon as the loss or damage occurs.
Lodge an FIR
In case of burglary, theft, or malicious damage, file a First Information Report (FIR) at the local police station.
Surveyor Appointment
The insurer will appoint a licensed surveyor to visit your property and assess the extent of the loss.
Minimal Disturbance
Do not clean up or repair the damage (unless necessary for safety) until the surveyor has completed the inspection.
Document Submission
Provide all required documents, including the FIR copy, claim form, and valuation bills, to the surveyor.
Claim Assessment
The insurer reviews the surveyor's report and your documents against the policy terms and conditions.
Approval Notification
Once the claim is verified, you will receive a notification regarding the approved settlement amount.
Final Settlement
The approved amount is paid to you or directly to the repair vendor to restore your home.
Benefits of Home Insurance with DigiAssure
Why choosing our home protection plan is the best decision for your family's security.
Total Asset Protection
Comprehensive cover for both building and contents ensures your entire investment is safe.
Burglary Shield
Sleep soundly knowing that your home is protected against theft and forced entry 24/7.
Disaster Recovery
Get the financial strength to rebuild and recover after earthquakes, floods, or storms.
Alternative Stay
We pay for your accommodation if your home is being repaired due to a covered loss.
Valuables Cover
Specialized add-ons for jewellery and precious items give you extra protection for what you love.
Legal Protection
Covers your legal liabilities to third parties for accidents occurring on your property.
Low Premiums
Protect your home starting at a very low cost, often less than your monthly coffee bill.
Long-Term Benefits
Avail significant discounts by opting for multi-year property structure policies.
Easy Online Purchase
Buy or renew your home insurance policy in minutes through our secure digital portal.
Complete Peace of Mind
Focus on making memories in your home while DigiAssure handles the risks for you.
Frequently Asked Questions
Quick answers to common queries about home insurance policies and claims.
What is the difference between structure and content insurance?
Structure insurance covers the physical building (roof, walls, fixtures), while content insurance covers the portable belongings inside (furniture, appliances, electronics) against loss or damage.
Does home insurance cover damages from a short circuit?
Fire caused by a short circuit is generally covered. However, the internal damage to the specific appliance itself may require a separate 'Electrical Breakdown' add-on cover.
Can I buy home insurance if I live in a rented house?
Yes! As a tenant, you can buy 'Content Insurance' to protect your personal belongings like furniture and gadgets against theft, fire, and other perils.
How is the 'Sum Insured' calculated for a home?
For structure, it's based on the 'Reinstatement Value' (cost of construction, not market price). For contents, it's based on the current market value or replacement cost of the items.
Is terrorism covered under home insurance?
Damage due to terrorism is usually an optional add-on in standard home insurance policies. We recommend adding it for comprehensive protection.
Does the policy cover my house if it is unoccupied?
Most policies have a limit (usually 30 days). If your home is unoccupied for longer without prior notification to the insurer, coverage for certain risks like burglary may be void.
What happens if my home is an apartment/flat?
You can still insure your flat. The policy covers the internal walls and structure of your unit, plus your belongings, even if the society manages the main building insurance.
How can I lower my home insurance premium?
Installing fire extinguishers, smoke detectors, and burglar alarms, opting for a longer-term policy, and choosing a higher voluntary deductible are effective ways to reduce costs.