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    Home Insurance

    In Home Insurance policy how do I calculate the value of the structure?

    In home insurance policy, the structure of your home is insured for its reconstruction value (and not for the market value). This value is the cost incurred to reconstruct the home if it is damaged. On the other hand, market value of your home is a combination of cost of land, demand and supply scenario, etc. The sum insured is calculated by multiplying the carpet area of your home with the construction rate per sq. feet, e.g. if the carpet area of your home is 1000 sq. feet and the construction rate is ₹1800 per sq. feet, the sum insured for your home structure is ₹18,00,000.

    Can I go for add-on covers in my policy? What do I do in case of a home insurance claim? I live in a building insured by my society. Would I need to take a separate home insurance policy? Does Home Insurance policy cover the home building for its market value? Can the building be covered in a building that is 45 years old? On what basis are the structure and contents insured in Home Insurance policy? Who can buy Home Insurance Policy? What type of dwellings can be covered under Complete Home Protect Policy? What is the procedure for assessing the value of my home building and its contents? Is short circuit covered under the policy? What is covered under valuables? If I work out of my home, is my inventory and business property also covered? What are the documents required for filing a claim? What do I do in case of a burglary claim? What is the maximum period that I can cover my home for under this policy? What if I sell the property during the insured period? If three people share an apartment, can each one take a separate home insurance policy? How do we get the valuation of our property done? In Home Insurance policy how do I calculate the value of contents? What are the contents insured In Home Insurance policy? Why a list of items is not required in Home Insurance policy? How will you asses a claim in Home Insurance policy? How is the value of jewellery calculated in Home Insurance policy? If my servant is involved in the burglary, is the loss covered in Home Insurance policy? If losses are incurred due to an incident like the garden catching fire and spreading to the premises, will it be covered in Home Insurance policy? If my AC is damaged or is out of order due to a technical issue, is it covered in the Home Insurance policy? If I rent out my house will my tenants be also covered under Home Insurance Policy? If I work out of my home, is my inventory and business property also covered in Home Insurance Policy? Is my home insured if my wife uses a part of it (room) for conducting coaching classes?