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- What is covered:
Your insurer will cover losses to the structure and content of your home. The reasons could be man-made as well as natural calamities.
Covers losses owing to natural disasters such cyclone, flood, lightening and storm. Under man-made disasters, losses incurred due to fire, aircraft damage, riot, strike and missile-testing are included.
Want to opt for protection against earthquake and related tragedies?You have to specifically pick that option and pay an extra premium for that. Same is true of burglary and theft cover.
However, there are certain riders here. To claim losses under burglary, it must be insured that the contents covered — jewellery, precious stones, etc. — are kept in a locked safe.
What is not covered?
Year after year, your property might undergo a depreciation in value owing to slow structural decay. You cannot claim losses for this under a property insurance policy.
Insurance providers do not offer cover in case your property is damaged owing to a fire caused by over-running of electronic equipment.
Even if you have bought a cover against theft, loss of cash is not covered in an insurance policy.
In case your property is damaged during an invasion by or war with a foreign country, no claims would be entertained by the insurance provider.CommentQuote0Flag