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Buy Property Insurance Online for Home, Shop, Building, Office Space
What is Property Insurance?
Be it one’s home, apartment, business, café or hospital; a property insurance is an insurance policy to protect the building and its contents. The policy covers loss/damage/destruction to insured property because of fire, theft, impact damage, landslides, rockslides, natural calamities, etc.
So, whether it’s a store you’re looking to protect or your beautiful home, buying a property insurance policy from Digit is important. This helps keep potential damages and losses at bay, by being there for you and covering you through unfortunate circumstances.
Why is Property Insurance Important?
What’s great about a Property Insurance by Digit?
What’s Covered in Property Insurance by Digit?
Our Property Insurance Offerings
Types of Property Insurance Plans
At Digit, our insurance covers your property for fire and natural calamities such as floods and earthquakes through our Go Digit, Bharat Laghu Udyam Suraksha , Go Digit, Bharat Sookshma Udyam Suraksha and for Home, Go Digit, Bharat Griha Raksha Policy. Since properties are always at a risk of burglary, we also cover burglary under a separate policy, Digit Burglary Insurance Policy. This way, your property is not only protected from damages and losses due to fires and natural calamities but also from burglary. For easy understanding, we have differentiated coverage options as below:
Covers only the contents of your home or business.
Covers both your building and the contents of your home or business.
Covers only your building.
Things to know about Property Insurance
Content - If you’re confused as to what ‘contents’ refers to in Property Insurance, it refers to those articles or things in your premises that are not permanently attached or fixed to the structure of Your Premises.
Building/Structure - As the name suggests, a ‘Building’ or ‘Structure’ in your Property Insurance policy refers to the entire property structure you’re covering.
Who needs a Property Insurance?
Ideally, anyone who owns any type of property whether it’s the house you’re living in or the offices that are part of your business; a property insurance ensures one is protected from a large amount of damages and losses that could arise due to unforeseen circumstances such as any natural calamity, explosion, fire, or even a burglary!
Types of Home Properties Covered
Types of Shop & Business Properties Covered
Know more about Property Insurance in India
Why are Property Insurance plans important?
Given that both your home or your business is an integral part of your financial and social security, a Property Insurance plan is important to protect both or either from potential losses and damages that could arise out of unforeseen circumstances like floods, storms, explosions, fires or even a burglary.
Key Benefits of a Property Insurance
Complete Coverage: A property insurance policy help protect your property (i.e. your building or store) and its contents, ensuring your pocket is steered away from all possible losses. Additionally, many insurance providers also provide for add-ons to increase your coverage as per your needs.
Reduces Business Risks: A property insurance policy also comes with customized ones to protect your shop and its contents, thus reducing the risk of business losses.
Peace of Mind: Whether it’s your store or your home, both hold a large amount of financial significance. A property insurance policy prevents you from facing significant losses and ensures that you have peace of mind knowing that the insurance company has you covered.
Why take a Property Insurance online?
Buying a good Property Insurance policy is a crucial decision. After all, it’s the decision that will help cover for your most prized possession. Buying a Property Insurance does not only make the process of buying a policy simpler but, also gives you the time and space to evaluate your options better and make an informed decision.
What are the factors that affect the Premium of Availing a Property Insurance Policy?
A Property Insurance premium is primarily affected by the following factors:
- Type of Property: The kind of property you’re insuring will have a direct impact on your property insurance premium. For example; a factory would have a higher premium than that of a General Store due to the difference in the nature of the property to be insured.
- Age of Property: Like any other insurance policy, age is a prime factor in determining premium prices. The newer the property is, the lower would be its premium and vice versa.
- Area of Property: The area of the property to be insured has the highest and direct impact on its property insurance premium. This is because a bigger property will have a higher sum insured and hence a higher property insurance premium respectively.
- Security Measures: Many homes and businesses today opt for various security measures to protect their homes and shops from risks such as burglaries and fires. Therefore, if your home or shop includes this, your risk and therefore property insurance premium will be lower.
- Additional Coverages: While a Property Insurance policy mainly covers for the building and its contents, there are other priced possessions such as any accidental in a shop or jewellery kept at home. You can opt for add-ons that will consequently give you better coverage. However, it will increase the property insurance premium.
Tips to Compare Property Insurance Plans
Deciding on the right Property Insurance plan can be a tricky choice many face. After all, it’s the choice you’re making to protect your lovely home, or your dear business! To choose the right property insurance plan, here are the three most things you should compare:
- Coverage Benefits: The most important part of your insurance is the kind of coverage you’re getting. You need to know what you will be covered for in the case of an unfortunate event. Therefore, always look at what is covered and what is not covered to help evaluate the most valuable plan to you.
- Sum Insured: Your Sum Insured in a Property Insurance refers to the total amount you’ll be covered for in the case of a claim you make. Therefore, be very wary on the amount you’d like to go for since this won’t only affect your property insurance premium but will also affect the claim amount you will receive in the case of damages and losses!
- Add-ons Available: Sometimes, you need coverage beyond just the basic plan benefits. This is where add-ons come in use. Different insurance providers give different range of add-ons for people to choose from. Compare your options and see what works for you best!
How to choose the right Property Insurance plan?
The best way to choose the right Property Insurance plan is to compare and evaluate all your options and make your choice accordingly. Look at your coverage benefits, sum insured, add-ons available, property insurance premium, customer support, etc. before choosing who you’d trust to protect your most important possession!
How to select the right Sum Insured for a Property Insurance?
Your Sum Insured refers to the total value of your property; i.e. also the maximum amount you can receive in case of a claim. So, you need to be sure that it reflects the true value of your property. To choose the right Sum Insured for your Property Insurance, you can use our calculator here that helps determine your Property Insurance premium and the recommended Sum Insured based on your property's area.