Get Home Insurance Policy with Comprehensive Coverage Online starting ₹150/year*
What is Home Insurance?
A home insurance is a property insurance policy to help you cover your own home or rented apartment, and your personal belongings within, from unforeseen circumstances such as burglaries, fires, floods, storms and explosions.
Buying a house is one of the most vital investments people spend all their life working towards. Yet, there are so many people who forget to secure and protect for this very important investment in their life. From your cutting-edge gadgets and beautiful interiors to your jewellery and other valuable belongings; your home is more than just its mere physical property and is a lot more valuable than you imagine it to be.
That’s why, one of the most essential things you could do for the wellbeing and safety of your home is at least get a home insurance that would allow you to stay secured and covered for in the case of uncertain and unfortunate circumstances such as burglaries, floods, fires, and earthquakes amongst other likely, but unforeseen circumstances. Our Go Digit, Bharat Griha Raksha Policy (UIN - IRDAN158RP0081V01202021) with optional add-on for valuables like jewellery will help you secure your home and valuables.
To ensure that your home is secured against burglaries as well, you can combine the Digit Burglary Insurance policy with your Home Insurance policy.
Why should I get a Home Insurance?
If you’re still confused about the need for a home insurance, read on...
In 2022 so far, 423.2K houses have been damaged due to extreme weather conditions. (1)
India recorded more than 220K cases of theft in 2020 in residential places, commercial establishments, office premises and more.
As per a report published by Centre for Science and Environment (CSE), India recorded extreme weather conditions for 241 days between the month of January and September in 2022. (3)
About 80% of India’s population lives in regions highly vulnerable to natural disasters like floods, earthquakes, etc. (4)
Not just this, you can also read the article by our CMO, Vivek Chaturvedi on why Indians should look at Home Insurance more seriously, to understand the importance and need of buying a home insurance now.
What’s Great About Home Insurance by Digit?
Go Digit, Bharat Griha Raksha policy is great because it offers the below mentioned benefits:
• Value for Money - When we think of Home Insurance, we think of it as an expensive affair. After all, it’s about protecting one of your most prized possessions! Fret not though, we not only ensure your home is covered for but, make sure that it is affordable for you and your pocket!
• Digital Friendly, all the way! - One of the things people often wary about in insurance is paperwork and that’s exactly what we’ve gotten rid of with our online home insurance! With Digit, everything from buying a home insurance policy to making claims is simple and can be done online! (Note: Claims above 1 lakh will need manual inspection as per the IRDAI).
• Plans for Renters - Millennials are shaping the rental economy and we understand that! That’s why, it doesn’t matter if you own a home or not, your place can still be protected with our insurance for home renters.
• 24x7 Customer Support - Emergencies come unannounced and can happen at any point in time! That’s why, we’ll always be just a ring away, no matter what time or day it is!
What’s Covered in Home Insurance by Digit?
Note: In India, burglaries are common. You can opt to combine the home insurance policy with Digit Burglary Insurance policy (UIN: IRDAN158RP0019V01201920) to secure your abode against burglaries as well.
What’s Not Covered?
Bharat Griha Raksha policy does not cover damages caused by the reasons mentioned below:
- Deliberate damage to the house.
- Damage caused due to factors like war, invasion, and war-like operations.
- Losses incurred due to contamination or ionizing radiation.
- Damage caused to bullion or unset precious stones, manuscripts, vehicles, and explosive substances are not covered by the policy.
- The cost, fees or expenses incurred for preparing any claim.
- Expenses incurred for any addition, extension or alteration to the house (more than 10% of its carpet area existing at the commencement date or on the date of renewal)
How to Buy Home Insurance from Digit?
Whether you’re buying your insurance policy from our mobile app or website, you can follow these easy steps and secure your home.
Step 1: Visit Digit’s Bharat Griha Raksha Insurance Policy page or download our ‘Digit Insurance App’ from Play Store or App Store.
Step 2: Select the ‘type of property’ and enter your details such as ‘pin code’ and ‘mobile number’.
Step 3: Click on ‘View Prices’ and enter plan details. Enter Home Building details and confirm. You can then choose the type of plan you want.
Step 4: After you view plan prices, fill in details about your building and other details like the ‘Property Owners Name’, ‘Mobile Number’, ‘Email ID’ and ‘Pan Card Number’.
Step 5: Make the payment online either through Card, Net Banking, UPI, Wallet or EMI.
Step 6: We will require some details for KYC verification so we can issue your policy immediately.
Types of Home Insurance
| Only Content Cover | Building + Content Cover | Only Building Cover |
| Covers only contents (i.e personal belongings) within your home. | Covers both the building and contents of your home. | Covers your house building |
Things to Know about Home Insurance
- Building/Structure: In a home insurance, building refers to the physical aspect of your house.
- Content: Content refers to the articles and things in your house. So, things such as your furniture too would be covered for in your home insurance.
How to File a Claim?
Filing a claim with Digit is a quick, simple and hassle-free process. We’ve listed out what you can do to file a claim with us:
Step 1
Call us at 1800-258-5956. We will help you file a claim and investigate the loss or damage as required.
Step 2
Upload the required documents & your bank account details, on the link sent.
Step 3
We’ll take care of the rest!
Advantages of Protecting Your Home with Home Insurance
Home burglaries can happen anywhere, anytime- even in the most secure places. A home insurance helps you recover from losses that could occur due to such uncertain and unforeseen circumstances.
Contrary to popular belief, a home insurance goes beyond just the physical property of your home. It covers for everything right from your garage to your home’s contents. And boy! is your home expensive! An average 2BHK has contents at least worth Rs 5 lakhs! There is no one to watch your home when you’re out in the day, at work or traveling. That’s why, having a home insurance helps your home stay secure when you’re away.
Floods, storms and the like can be a homeowner’s worst nightmare! And going through the hassle of rebuilding your home and recovering from the damages can not only be stressful but also loss of a lot money! Luckily, having a home insurance can cover you for it all!
Who Should Get Home Insurance?
If you’ve just bought a home recently, getting a home insurance should be at the top of your priority list. After all, you’ve already spent so much money on your newfound abode, the least you can do to stay secured financially is get a home insurance.
Even if you’re renting your house, it doesn’t matter! Your home is still where all your belongings are. From your gadgets to your furniture, all are at risk in case of events such as fires, floods or a robbery. While not all insurers offer home insurance policies for renters, we offer policies for the same so everyone can be covered for.
Types of Homes Covered
From independent owned homes to rented apartments; a home insurance by Digit is designed to suit all types of houses.
This is for those who live in independent flats that are either part of housing societies or standalone buildings. The same could be either a flat owned by you or rented by you. Our offerings are suited for both!
Perhaps you and your extended family live in a standalone building, owning or renting flats in the entire building. In this case, you can choose to cover for them all with a home insurance by Digit.
If you own or have rented an independent villa or house, a home insurance is vital to protect your villa and its contents from potential risks such as burglaries, floods, storms and other unforeseen circumstances.
Why You Must Buy Home Insurance: In Coversation with Dilip Baba Neeronthiyil, Head-Underwriting, Digit Insurance
Why Choose Digit?
Digit makes it to the headlines!
Why should you get a house insurance cover? MintGenie explains
- 16 Feb 2023
- Team MintGenie
Home Insurance checklist ahead of Monsoon 2022: Take cover for your home and its contents, too
- 18 Jul 2023
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Bharat Griha Raksha standard home insurance policy offers auto increase of sum insured: Should you buy?
- 01 Sep 2021
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All You Need To Know About Home Insurance
Check this Conversation out to know everything about Home Insurance by Expert- Vivek Chaturvedi.
Things you should know about Home Insurance
Why is Home Insurance Important?
Your home is not only essential for your living but also marks one of the biggest investments of your life. Therefore, the least you can do is keep it secured through Home Insurance.
Home insurance plan helps manage uncertain and unforeseen losses and damages that could happen to your house during events such as burglaries, fires, floods, storms, earthquakes, etc. It can help recover your financial losses in no time!
Why Should I Buy Home Insurance Plan Online?
Buying anything online is undoubtedly convenient and faster. For decisions as crucial as home insurance, it’s always better to have the time and peace of mind to decide on the best possible choice. Buying home insurance online gives you time to evaluate and compare various plans available in the market, to make the right decision. Along with that, you can also customize your plan and manage documentation online, without any hassles and pointless paperwork!
Factors that Affect Your Home Insurance Premium
We have listed 7 factors that will directly or indirectly influence your home insurance premium:
- Type of Home - Your premium amount differs if you have your own property, are renting a place, or if it is an apartment or independent bungalow, or even the type of furnishing affects your premium rate.
- Location of the Building – If your home is in zones prone to disasters such as floods, fires or even in unsafe areas where crime and thefts are common, it could affect the amount of premium you have to pay. Homes located in a safer society offer an economical premium amount.
- Age of Home - Like any other insurance policy, age is a prime factor in determining premium prices.
- Size of Home - The square ft area of your home has the highest and direct impact on your home insurance premium.
- Value of your Belongings – The value of your belongings in your home also affects the amount of premium you will have to pay. For example, if you have expensive jewellery, artefacts, expensive gadgets, etc. insuring these items is crucial. This will directly reflect in your premium amount as well.
- Home Safety Measures - We’re all obsessed with the safety of our homes. So, we go ahead and take various measures like adding a security system, to keep our homes safe. This positively impacts your premium, making it lower.
- Additional Coverages - Some home insurances offer additional covers to cover for things beyond the standard plan. This consequently affects one’s premium.
To know how much your home insurance would cost, you can use our Home Insurance Premium calculator to check your premium amount.
Tips to Compare Home Insurance Plans
When you’re making the decision to buy a home insurance policy, following are some of the important factors you can compare to choose the right plan for your home:
- Coverage Benefits - The most important part of your home 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 your Home 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 home 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. Likewise, we at Digit offer a unique jewelry protection add-on for Home Insurers. Compare your options and see what works for you best!
How to Select the Right Sum Insured?
In insurance, the sum insured refers to the maximum value you’d be compensated for in case of losses. It also determines the value of your insured home. So, you need to be sure that the sum insured you choose reflects the true value of your home. To choose the right sum insured, you should consider your total carpet area in square meters and the approximate value of items in your home.
FAQs about Home Insurance in India
Is structure and building the same thing in a home insurance?
Yes, structure and building refers to the same thing; i.e. the physical aspects of your house such as the pillars, windows, outer walls, etc.
What should I do in case of damages in my house?
If your house has faced damages due to events such as a fire, robbery, storm, flood or earthquake, then you should immediately call us at our helpline number 1800-258-5956 (we’re available 24x7!) and we’ll take care of the rest.
Can I cancel the policy at any time during the tenure?
Yes, you can cancel your policy at any time. The premium amount will be refunded basis a percentage system as defined in your policy document.
Does Bharat Griha Raksha have automatic renewal?
No, Bharat Griha Raksha policy does not offer automatic renewal of the policy. If you wish to renew your policy, it must be done before the end of the policy period by paying the required premium amount.
How is the sum insured of building calculated in Go Digit, Bharat Griha Raksha product?
Building sum insured is calculated by considering per square ft. carpet area and Cost of Construction.
What in-built cover for contents is available under Bharat Griha Raksha policy?
Bharat Griha Raksha offers an in-built cover for general home contents automatically. This means the insured need to additionally mention items such as furniture, kitchen equipment, clothing, etc. The policy provides 20% of the sum insured for the building subject to a maximum of Rs 10 lakh.
Can all the Individuals in the family be covered under Personal Accident cover? Is there any sum insured capping?
Personal Accident is optional cover. Personal Accident Coverage is limited to Insured and their spouse. In case of death of Insured & their spouse (after occurrence of Insured) - 5 lakhs per person can be claimed from the insurance company.
What does auto escalation mean? How does auto escalation work in Bharat Griha Raksha policy?
Auto escalation means an automatic increase of sum insured. In Bharat Griha Raksha policy there is an automatic increase (escalation) of 10% on base sum insured every year.
For example: If the initial sum insured = 1,00,00,000 then,
2nd year sum insured = 10% of base sum insured 1,00,00,000 + 10,00,000 = 1,10,00,000. Every year, the sum insured will increase proportionally.
Are housing society/dwelling in the name of corporate a part of Griha Raksha product?
Yes, dwelling and housing society is a part of Griha Raksha product. For dwelling it is for 10 years and for housing society it is 1 year.
Is there is any sum insured capping for Griha Raksha Product?
There is no sum insured capping for Griha Raksha Product.
Is auto escalation valid for annual policy?
Yes, auto escalation is valid for annual policy and is calculated on pro-rata basis.
What is the sum insured limit for loss of rent and rent for alternate accommodation and is there any capping on indemnity period?
Sum Insured limit is up to location sum insured and can be availed up to 36 months.
Is life insurance useful if I already have home insurance?
Definitely, home insurance protects your property, whereas life insurance ensures your family has financial support if you pass away. It helps pay off loans, including home loans, and secures your loved ones’ future.
How can term insurance provide support if my spouse, the policyholder, passes away in a house fire?
Term insurance offers financial protection to beneficiaries by paying out a death benefit upon the policyholder's passing. This can help cover living expenses, debts, and funeral costs during a difficult time.
Does health insurance cover injuries from a house fire?
Health insurance cover treatment costs for injuries, but it won’t pay for property damage. For full protection, you need both: health insurance for medical bills and home insurance for structural damage.