| Plan | ICICI Lombard Home Insurance Policy | HDFC Ergo Home Insurance | Bajaj Alliance my Home Insurance Plan | TATA AIG Insta Choice | United India |
| Protection | Structure & Contents | Structure & Contents | Structure & Contents | Structure & Contents | Structure & Contents |
| Coverage | The policy covers losses to the structure and content of your home, that might occur due to a number of natural and/or man-made calamities like fire and special perils like missile testing and explosion, earthquakes, storm, theft and burglary. | Fire & allied perils and Burglary including theft and larceny under one policy. Covers risk against Fire, Lightning, Explosion, Implosion, Flood, Inundation, Storm, Riot, Strike, Earthquake, Terrorism (optional), Burglary, Theft and, Larceny | Loss or damage to content, Loss or damage to portable equipment anywhere in India, Loss or damage to jewellery and valuables, Loss of or damage to “curios, works of art and paintings” whilst stored or lying in your Building | Offers a burglary cover for jewellery, Covers domestic appliances as old as 8 years making it an instant hit amongst home owners and non-owners alike, fire and special perils | Any loss/damage to the building and its contents, jewelry and valuables, domestic appliances such as TV, VCR, audio systems or PC, baggage while on travel, |
| Additional coverage | If you are forced to shift into an alternative accommodation because your home is destroyed or damaged by any insured peril, the policy will cover your additional rent expenses. The maximum coverage is upto ` 1 lakh, for upto 6 months. This cover is available only if you are insuring the structure of your home. | Terrorism | Loss of Rent Cover, Temporary Resettlement cover, Key and Lock Replacement cover, ATM withdrawal Robbery cover, Lost Wallet cover, Dog Insurance cover, Public Liability cover, Employee’s Compensation cover | Rent for alternative accommodation, Public Liability, Baggage Loss, Breakdown of Domestic Appliances, Personal Accident, Purchase protection | Additonal cover for accidental injury causing death/disability, liability to third parties due to injury to third party or damage to third party property |
| How is Sum insured of structure determined | The sum insured is calculated by multiplying the built up area of your home with the construction rate per sq. feet | Property valuation is done by multiplying the built up area of the property with the cost of construction per square feet. | Agreed Value Basis: Under this method, the insured can cover the structure of their property on the value they and the insured agree upon which could be higher than the market value. This is applicable only for structure and not content. Reinstatement Value Basis: If the insured decides to purchase the House Insurance policy under reinstatement value basis, there will be no depreciation imposed at the time of claim and the insured will be paid the total cost of replacement depending on the sum insured. This is applicable only for structure and not content. | Reconstruction Cost | No specific information available |
| How is Sum insured of content determined | The contents of your home – furniture, durables, clothes, utensils, jewellery, etc., is to be valued on market value basis, that is the current market value of similar items after depreciation. | Market Value | Indemnity Value Basis: Indemnity value basis, commonly known as market value basis is a method used to insure structure that considers the depreciation amount as per the age of the building, at the time of claim. New for old basis: When this method is chosen for insuring content, the item damaged beyond repair will be replaced with a new one or the insurer will pay out the cost for replacement of the item in full, regardless of its age. | Market Value | No specific information available |
| Age limit of Property | buildings not more than 50 years old on a case-to-case basis | 40 years | Any flat/apartment/independent building which is more than 30 years old and which is of kutcha construction | No specific information available | No specific information available |
| Discount on premium | 3 year and 5 year cover with 15% and 25% discount respectively | Discount up to 25% and additional 15% discount for security features under Burglary section | You get to avail upto 20% discount on the total premium. Discount percentage is calculated according to the tenure years of the policy | No specific information available | No specific information available |
| Exclusions | Willful destruction of property, Loss, damage and destruction caused by war, wear and tear etc | Willful destruction of property, Loss, damage and destruction caused by war, wear and tear etc | Misrepresentation, mis-description or non-disclosure of any material information, Damage which is pre-existing in nature (applicable to contents and building), Manufacturing defects in electrical, mechanical and electronic items, Contents and valuables of a flat/apartment/independent which is not occupied by a tenant for residential purpose | Willful destruction of property, Loss, damage and destruction caused by war, wear and tear etc., First 250 for fire and special perils and burgalary loss occured while home is unoccupied | War and war like perils, wear and tear depreciation consequential loss, nuclear group of perils, gross and willful negligence of insured, violation of policy conditions, loss/damage/liability where insured’s family or insured’s employee are involved as principal/accessory, intentional act/self-injury/ influence of drug/intoxicant. |
| Quotation | Policy sum assured : Rs 1,30,00,000 ( structure and contents) Premium for all risks: 31,388 ( 1 year ) 3 year premium : 80,039 5 year premium : 1,17,705 (Protection against Earthquake, Floods, Fire & allied perils, Cyclone, Storm,Terrorism, All Risk Jewellery cover) Note: contents value cannot exceed 30 lakh of which jewellery is only 25%) |
Policy sum assured : Rs 1,25,00,000 ( structure and contents) Premium for all risks: 28,886 ( 2 years ) 3 year premium : 37,977 5 year premium :57,348 (Protection against Fire, Lightning, Explosion, Riot, strike, malicious damage, Storm, Tempest, Flood, Inundation, Earthquake, Terrorism) Note: contents value cannot exceed 25 lakh and jewellery is covered only upto Rs 5 lakh |
Policy sum assured : Rs 1,20,00,000 ( structure and contents) Premium for all risks: 32,893 ( annual ) 3 year premium : 79,678 (Protection against Fire, Lightning, Explosion, Riot, strike, malicious damage, Storm, Tempest, Flood, Inundation, Earthquake, Terrorism) Note: contents value cannot exceed 20 lakh and jewellery is covered upto Rs 5 lakh |
NO QUOTE AVAILABLE ONLINE | Policy sum assured : Rs 1,50,00,000 ( structure and contents) Premium for all risks: 64,688 ( 1 year) Premium for fire + theft: 20,700 Premium for fire: 6,900 |
Source:www.dilzer.net