Home insurance

POSTED BY venkatesh ON May 19, 2011 10:23 am COMMENTS (6)

I have been searching to purchase a home insurance poilicy for the past 3 months , i have approached ICICI(responded well with an offer for Rs 24,000/- for 10 years for insuring the structure only ,HDFC(did not respond at all),New india assurance company (which is yet to launch the product),Royal Sundaram is the cheapest i could find , they offered a 50 lakhs insurance policy (on line ) for Rs 18000/-(for structure only ).

The persons from ICICI and Royal Sundaram said that they have their own in house settlement , no third party is involved is that true ? How can i confirm this piece of information and is it better buy the policy on-line or through the branch ,because i was told that they (ICICI) can get per sq feet rate upto Rs 2000/- if its through them directly instead of the online process in which no such thing is mentioned . How can i verify Royal Sundarams settlement track record, i am sceptical about this offer from Royal Sundaram .

What are the right questions i need to ask before buying a home insurance policy ?

Which is the better product ?

Thanking You

Venkatesh A   

6 replies on this article “Home insurance”

  1. Srivy says:

    I have a query on the Home insurance. In case your house/apartment has the risk of any damage (partly or fully) because of any road widening in future (if the house falls near by main road), does the insurance covers this aspect as well?
    Do they pay for reinstatement of the partly damaged structure?

  2. Mr. Venkatesh,
    You can insure home for fire, flood, earth quakes, and any other perils. You can also insure your home appliances for electrical damages, any furniture and fittings, jewelry ( branded) for burglary, For that matter any thing you can insurer.

  3. venkatesh says:

    Thank you for your responses i will enquire about National Insurance too….

  4. Rajesh says:


    you can also try National Insurance, i had heard the premium is much lower.

  5. Raja Mohamed says:

    Hi Venkatesh,

    Try reading HDFC’s product – HDFC Ergo and see if it suits your need…

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