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Home insurance

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Home insurance covers your building, your belongings or both against fire, natural disasters, burglary and other listed risks.

Types of home insurance

BuildingThe structure, at reconstruction cost.
ContentsFurniture, appliances and belongings.
Standard productsIRDAI has set standard home cover terms that insurers offer.
Home loan coverSome lenders ask for property cover.
Tenant coverContents cover for people who rent.
Add-onsJewellery, valuables, rent loss and others.

What is usually covered, and what is not

Usually covered
  • Fire, lightning and explosion
  • Storm, flood and earthquake if included
  • Burglary and theft, for contents cover
Usually not covered
  • Wear and tear
  • Wilful damage
  • Valuables not declared

Your policy wording decides. Read it before you buy.

Check these before you buy

Sum insuredBuilding at rebuilding cost; contents at replacement value.
UnderinsuranceToo low a sum insured can cut claims in proportion.
Perils listedEarthquake and flood may need to be included.
InventoryKeep a list and photos of contents.
ValuablesDeclare jewellery and art separately.
Insurer recordClaims and complaints on each insurer page.

Why claims get refused

ReasonWhat it meansWhat to do instead
UnderinsuranceSum insured below the real valueInsure at full value
Peril not coveredThe cause is not listed in the policyCheck listed perils when buying

How to claim

1
Inform
Tell the insurer at once; police report for theft.
2
Survey
A surveyor assesses the loss.
3
Settlement
Paid as the policy terms set.

Official guide: IRDAI, making a claim.

Insurers that sell general cover

Names only, A to Z. Tap one for its own claims, complaints and solvency record.

Acko General InsuranceAgriculture Insurance Company of IndiaBajaj Allianz General InsuranceCholamandalam MS General InsuranceECGCFuture Generali India InsuranceGo Digit General InsuranceHDFC ERGO General InsuranceICICI Lombard General InsuranceIFFCO Tokio General InsuranceKshema General InsuranceLiberty General InsuranceMagma HDI General InsuranceNational InsuranceNavi General InsuranceRaheja QBE General InsuranceReliance General InsuranceRoyal Sundaram General InsuranceSBI General InsuranceShriram General InsuranceTata AIG General InsuranceThe New India AssuranceThe Oriental InsuranceUnited India InsuranceUniversal Sompo General InsuranceZuno General InsuranceZurich Kotak General Insurance

Frequently asked questions

Do I need home insurance if I rent?

The owner insures the building; you can insure your own contents.

Is earthquake covered?

Only if the policy lists it; many do, check the wording.

Education only. MyFinanceBandhu is not an insurer, insurance broker or web aggregator, does not sell, quote or recommend insurance, and earns nothing from it. Insurers are listed A to Z, never ranked. Claim figures come from IRDAI’s Handbook on Indian Insurance Statistics 2024-25. Your policy wording is what decides any claim: read it before you buy. Complaints: insurer’s grievance officer, then IRDAI’s Bima Bharosa, then the Insurance Ombudsman.