• A residence is a location that holds significant importance to each person’s heart. It takes numerous years of savings to secure a home for oneself, and for most Indians, it represents a major achievement. It is essential to protect your home and shield it from undesired damages. Therefore, possessing adequate home insurance coverage for your property is crucial to safeguard its contents and structure. You can choose the HDFC ERGO property insurance policy, which offers a plan suitable for both homeowners and tenants. Now, let us examine the home insurance coverages that are recommended to be obtained along with the policy.

5 Home Insurance Coverages Everyone Should Have

1. Coverage against water-induced damage
   A typical home insurance policy includes coverage for damages resulting from flooding. However, additional coverage for water-induced damage may be necessary if harm occurs due to a roof leak or the bursting of water tanks. Those residing in regions with heavy rainfall should ideally opt for coverage against water-induced damage. It should be acknowledged that damages stemming from ongoing maintenance issues such as rusty pipes or plumbing concerns might not be included in many instances, so referring to the policy wording is advised.
   
2. Coverage against fire-induced damage
   When a residence experiences a fire, it undeniably results in irreversible damage, leading to significant financial loss. Therefore, it is wise to have coverage for fire-induced damage included in your home insurance policy, as it addresses harm resulting from a fire-related incident. Nonetheless, no coverage is available for damages caused to the insured property by natural fermentation, heating, or spontaneous combustion. Moreover, damages incurred during the heating and drying process cannot be classified as fire-related damage.
   
3. Coverage against damage caused because of ground activity
   Ground activities, such as explosions resulting from mining operations or road construction near your home, can cause damage. Thus, obtaining coverage for damage caused due to ground activity is advisable. Standard home insurance policies cover natural disasters like earthquakes that result in ground damage and subsequently lead to destruction of the home.
   
4. Coverage for storms and cyclones
   Certain natural calamities are indeed unpredictable, making it advisable to acquire coverage for storms and cyclones, which can inflict severe damage to homes, leading to financial strain. Individuals residing in hilly regions or near coastlines should consider this coverage, as these areas are more susceptible to tsunamis, cloud bursts, and other natural disasters.
   
5. Coverage against man-made problems and damages
   Man-made issues can result in significant financial setbacks by harming your residence. Mostly external elements like the socio-political environment fall outside our control, which can trigger situations such as strokes, riots, or any form of violence that inflicts damage on the integrity of your home. By selecting coverage against man-made issues, you can receive compensation for the losses you’ve experienced, subject to the insured amount. In addition to the aforementioned coverage, you can also choose various add-ons with your home insurance policy. These additional coverages include portable electronic equipment coverage, jewellery and valuables, public liability, pedal cycle, and terrorism coverage. HDFC ERGO provides jewellery and valuables add-on coverage that insures your jewellery and other valuables, including sculptures, watches, paintings, etc. Furthermore, you can avail yourself of other enticing add-on home insurance coverages when you choose the HDFC ERGO home insurance policy.

Conclusion

• Whether you own a home or reside in a rented space, having a home insurance policy is prudent for protecting both the structure of your home and its contents. Devastating events like fire incidents, earthquakes, riots, terrorist attacks, etc. , are unforeseen and can deplete years of earnings in just seconds. Thus, obtaining property insurance with suitable home insurance coverage tailored to your needs is recommended. With HDFC ERGO home insurance policy, you can secure home possessions valued up to Rs 25 lakhs and enjoy appealing discounts of up to 45%.

Disclaimer:

• The information provided above is for illustrative purposes only. For further information, please consult the policy wordings and prospectus prior to finalizing the sale.