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Choose Amongst the Best Policies For Home Insurance This 2017

When you purchase a home insurance policy, you are not just insuring your house made of bricks and mortar, but you are insuring your home, made with love, dreams, hard work and insight. It may be catastrophic when something happens to it.

Choosing from the Best Home Insurance Policies of 2017, will not return the memories lost but will help you safeguard what you have and give you peace of mind. It is important to choose from the best home policies available today and read carefully the terms and conditions before entrusting your home in their trust fully.

Insuring Your Home

It is every person’s dream to build a home. A home is not only bricks and wood assembled to build walls and doors. It is who you are, it a place of recluse and comfort which one puts together with love and utmost care.

Let alone the emotional variant of the same; it costs a great deal of money, sweat and hard work to get in together. Imagine if due to an accident, a calamity or sheer bad luck, everything that you put together it taken away from you. Thankfully, there are many good home insurance policies available to put your faith in.

Why Should You Have Insurance for House

It is important to understand why you should buy a cover for your home.

  1. Securing assets for any uncalled for mishaps
  2. Insurance payments in a timely manner will allow the insurer to complete the rebuilding process when required faster and bounce back to normalcy
  3. Provide you with a sense of security and reduce stress levels as there is always something to fall back when the need arises
  4. The best insurance policies will cover both the content and structure of your house

The Best Home Insurance Policies To Choose From in 2017

The following are the top ten insurance policies that one can vest their trust in 2017.

  1. Bharati AXA Home Insurance
  2. Bajaj Allianz Home Insurance
  3. ICICI Lombard Home Insurance
  4. Tata AIG Home Insurance
  5. HDFC Ergo Home Insurance
  6. Cholamandalam Home Insurance
  7. Kotak Mahindra Home Insurance
  8. National Insurance Company-Home Insurance
  9. Reliance Home Insurance
  10. Future General Home Insurance

Looking Into the Details Of The Best Home Insurance Policies 

  1. Bharati AXA Home Insurance

Considered as one of the best home insurance policies, Bharati AXA Home Insurance will provide cover for all damage that is related to the house. Other than the general inclusions that all home insurance policies have, the Bharati AXA Home Insurance has a special rider, where in the case of an incident the property owner will get compensation for the loss of rent due to the incident till the time of repair.

The plan that Bharati AXA has to offer will also provide for cover against damages caused to the property due to acts of terrorism. There are plenty of premium and cover options to choose from depending on the price of the property and value of the loan.

  1. Bajaj Allianz Home Insurance

 Bajaj Allianz is one of the most reputed insurance companies in India. It has beneficial features like all round protection of property, content and other belongings. The Insurance policy covers the home from acts of theft, burglary and similar unfortunate circumstances and the valuables lost in the bargain. Homes damaged due to a natural disaster are also covered. In cases of damage, the insurer is also given the option of alternative accommodation.

There are multiple premium options and coverage to choose from depending on the budget and need of the individual. Certain policies registered for at the time of a loan will also protect the interest of the family members on the demise of the primary stakeholder. The customer service and staff are very helpful and available round the look. Bajaj Allianz also covers a free look period on their home insurance policies, and an easy refund policy in case of termination.

  1. ICICI Lombard Home Insurance

ICICI has been awarded the ‘Claim Leader’ in the General Insurance sector. ICICI is highly trusted by many Indians. The same has been achieved mostly because of the behavior of the staff and the transparency with which they serve their clients. There are tailor made policies for every individual. Coverage stretches up to a period of about ten years. The ICICI Home insurance plan ideally covers any property less than 50 years old. Considered as one of the best home policies in 2017, ICICI home insurances has many interesting and useful riders that one can choose to top up to the current enrolment plan.

  1. Tata AIG Home Insurance

Apart from being listed as one of the best home insurance companies in India, TATA AIG, is one of the most reputed and trusted financial bodies in the country. It is reputed for the truth and honesty with which it handles a crisis situation and the sensitivity and flexibility that staff at TATA AIG provides to its clients. The home insurance policy is passed and rolls into action easily without much hassle. The Tata AIG Home insurance policy provides spot insurance schemes and additional riders for clients according to their needs, especially with regards to the natural calamities. There are a total of 15 comprehensive cover plans to choose from. In the case of a mishap jewelry and appliance are also insured as part of the home policy.

  1. HDFC Ergo Home Insurance

HDFC home Insurance gives customers the option to choose from basic plans. The first would be from fire the next from theft or burglary. The premiums at HDFC are available at lowest rates, with up to about 25 % discounts on availing additional security features. They have many riders to choose from offer a considerable amount of flexibility to the client, thus making it one of the best home insurance policies in 2017.

  1. Cholamandalam Home Insurance

The home insurance plan at Cholamandalam protects and covers not just the structure of the home but also the contents of the house as well. They provide low premium options and covers as per the requirements of the individual. The registration process is simple, and the customer service staff is approachable and transparent at the time of registration as well as the time of claiming the insurance cover. They do not believe in complicated paperwork and have a very simplistic approach to registering the client on board.

  1. Kotak Mahindra Home Insurance

Linked closely with the Kotak Mahindra Bank the Kotak Mahindra Insurance sector is a fairly recent player in the financial market. However, due to the performance of its policies and products the insurance company has grown by leap and bounds. They offer many riders to their clients apart from the basic structural home insurance plans that cover certain man-made and natural disasters making it one of the best home insurance policies to choose from in 2017.

  1. National Insurance Company-Home Insurance

The National Insurance Company provides the customers with the option of providing instant online policies, making the policies easy to get and technically advanced, making it one of the best insurance policies in 2017. They provide a coverage period of more than five years, and one can claim damage on fire, natural disasters and certain man-made calamities. They offer clients a host of plans to choose from according to budget and requirement. The National Insurance Home Policy provides cover on the structure as well as content. They offer a lower rate on premiums making it affordable and reaching a wider audience.

  1. Reliance Home Insurance

As a part of only one India’s most powerful organizations Reliance provides some of the best and most flexible home insurance plans for interested contenders. The home insurance plans are available at affordable prices, making it easy for the common man to buy and insure their homes. They are a customer focused organization and plans are discussed with the candidates after discussing what they want. The plan will also cover damage to property due to appliance malfunctions. They have a ready calculator to tabulate the premium amounts according to the price of the property. They do not promote any partial insurance plans.

  1. Future Generali Home Insurance

What makes Future Generali Home Insurance one of the best plans to choose from in 2017 is the fact that in a single policy cover it covers both contents as well as structure. There are no two separate policies or riders that are required for the same. The company is highly recommended for the ease with which they conduct all their paperwork and finally also when they have to file for their claim. One of the unique features of this plan is that is covers costs that are to be borne to domestic help and other workmen that are involved in the mishap. Future Generali Home Insurance will also provide with an ATM facility to draw the claim amount as and when required.

Useful Tips To keep In Mind While Choosing From The Best Home Insurance Policies In 2017

  The following are some of the tips that will help you choose from the best home insurance policies in 2017:

  1. Check the terms and conditions well. For example: if your home is in an area that is prone to natural disasters, ensure that the home insurance policies will cover them.
  2. Check to see if the Premium that is offered to you suits your budget
  3. How soon will the home insurance company of your choice give the claim to you, there is no point is registering with a company that will not be able to reimburse the claim in a timely manner.
  4. The reputation of the home insurance company and necessary mergers or associations is important to understand the financial strength of the organization. The staff and team that you will deal with should be open and transparent moreover, easily accessible.

General Inclusions That the Best Home Insurance Policies Have

Inclusions are those factors that the Home Insurance Company will offer you as part of the policy; the following points are mostly included in almost all the best home insurance policies in 2017.

  1. Damage caused by fire
  2. Accidents caused by natural calamities like lightning, floods, storms or cyclones, earthquakes. However, terms and conditions do apply
  3. Aircraft damage
  4. Mishaps due to testing operations of weapons, example missiles
  5. In the case of theft or burglary. The expensive valuables that are in your home can be covered.

General Exclusions That Are Part Of Any Home Insurance Policy

The following are the guidelines that almost all the best home insurance policies will exclude and not cover as part of their home insurance schemes. Terms and conditions do apply.

  1. Damages caused due to war or warlike activities, including nuclear wars
  2. Damage or mishaps due to overloading or over-running of any electronic equipment
  3. Cash loss
  4. Deterioration because of wear and tear or depreciation

The Process For Claiming When The Need Arises

The first and foremost thing is to check with the deadline for submitting all relevant documents for claiming the home insurance from the insurance company of your choice. Here it is important to note that every company has a different framework; however it is generally between 7-15 days. The paper works that are required to be submitted are:

  1. Initial investigation report by the police department
  2. FIR and a copy of the FIR
  3. Report from the Fire Brigade
  4. Medical certificates in case of death or disabilities
  5. Home insurance registration papers
  6. Estimate of damage and repairing costs
  7. Court notices and summons

The above are some of the general documents that are required. However, it is important to note that every home insurance company has their own set of rules and protocols that need to be adhered to, for a smooth and hassle free claim at the time of an occurrence.

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