Houseowners Insurance Policy

POSTED BY Samir ON November 17, 2012 4:13 am COMMENTS (3)

Dear Expert,

I have not seen a great amount of discussion on this forum on this topic.

I have two flats and would like to take a houseowners insurance policy.

I did see insurance products from Oriental and Bajaj Allianz and ICICI Lombard…

Question –

1) Which insurance company is better?

2) Anybody is having any experience?


Warm Regards


3 replies on this article “Houseowners Insurance Policy”

  1. bharat shah says:

    for insurance of your home, you should keep in mind that you should insurance for its building cost(depreciated value only, or you can maximum consider its depreciated value for the end of your insurance period) excluding value of land, which is never lost or damaged.for the company , i have no opinion . i got it from United india insurance company for some 10-15 yrs period only for flat building cost. for appliances, furniture etc. also, they would pay only for their depreciated value. for jewellery , it is too costly, and better to preserve in sate deposit vault, i think.

  2. sainath says:


    Every isnurer is providing as part of homeloan nowadays. i.e premium will be given as loan.

    Please see the annual report. You can see the non-life claim settlement ratio.

    Please read the terms and conditions before taking the policy. Some policies will also waive off the premium even if there is loss of Job.


    1. Samir says:

      Hi Venkat,
      Thanks for your response.
      I think you are talking about home loan insurance.
      I want insurance for my home, the value of my home may be more then my loan amount…

      Also, home will also include valuable items (appliances, furniture etc.)

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