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What is a 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 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 (UIN – IRDAN158RP0019V01201920) 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...
What’s great about Home Insurance by Digit?
What’s Covered in Home Insurance by Digit?
Fire
Fire are dreadful and can lead to plenty of damage and losses to both your home and your Home contents. Our home insurance policy will be there for you in such unfortunate situations!
Explosion & Aircraft Damage
Damages and losses caused by explosions or even aircraft damage will be covered for too in our house insurance.
Storms
Covers your house and your belongings from dire storms that could lead to potential damages and losses.
Floods
Protects your house from losses and damages when the rains are out of control, leading to floods that impact your home and your belongings.
Earthquakes
Nobody can avoid nature’s furies but, what you can do is ensure you’re covered for any potential losses that could come your way due to the same. A house insurance also covers for damages and losses that occur due to earthquakes.
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.
Types of Home Insurance
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Only Content Cover |
Building + Content Cover |
Only Building Cover |
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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.
What are the advantages of protecting your home with a Home Insurance?
Who should get a Home Insurance?
Types of Homes Covered
From independent owned homes to rented apartments; a home insurance by Digit is designed to suit all types of houses.
Things you should know about Home Insurance
Why is a home insurance plan important?
Your home is one of the most important things in your life. It not only makes for the most essential thing to your living but, for many, marks one of the biggest investments of life.
Therefore, the least you can do is keep it secured through it all. While a home insurance can’t prevent a burglary from happening altogether, but it can help recover from the losses and damages in no time!
A home insurance plan is important to help manage uncertain and unforeseen losses and damages that could happen to your house in the case of events such as burglaries, fires, floods, storms and earthquakes.
Why should I buy a home insurance plan online?
Securing your home is no joke! For decisions as crucial as this, it’s always better to have the time and peace of mind to decide on the best possible choice.
With an online home insurance, this becomes a lot easier to do. You can evaluate and compare various home insurance plans at the comfort of your home, online and make your decision.
Moreover, with a home insurance online, everything from buying your policy, customizing your plan and managing documentation can be done online, with no hassles and most importantly, no pointless paperwork!
Factors that affect the Home Insurance Premium
Here are some of the factors that will directly or indirectly influence your home insurance premium:
- Type of Home - Is your home your own property, or a rented one? Is it an apartment in a building or an independent bungalow? Whether your home is owned or not, and the type of house you have will directly affect your home insurance premium.
- How Old your Home is - Like any other insurance policy, age is a prime factor in determining premium prices.
- How Big your Home is - The square ft area of your home has the highest and direct impact on your home insurance premium. This is because a bigger home will have a higher sum insured and hence a higher home insurance premium respectively.
- Home Safety Measures - We’re all obsessed with the safety of our homes. So we go ahead and take various measures to keep our homes space. Since this reduces the risk of your home being robbed or say helps prevent a fire, your home insurance premium directly gets impacted and becomes lower.
- Additional Coverages - A basic home insurance plan will only cover for your house and your personal belongings but doesn’t cover for jewelry. Thereby, some home insurances offer additional covers to cover for things beyond the standard plan. This consequently affects one’s premium.
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, 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 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 area sq ft and approximate value of items in your home.
