Household Insurance is the kind of insurance that covers the contents of a house and the building or both. It is a nice way to protect one's house against any unwanted and unexpected events of loss and damage due to natural calamities, fire, theft etc. Household insurance can be of different types and are described differently based on the house/building location and the insurance company.
Types of Household Insurance
There can be two types of household insurance in general:
Household Contents Insurance
Household Building Insurance
Household Contents Insurance
Household contents insurance covers removable contents like jewelry, furniture, accessories, cloths, electrical appliances etc. This type of insurance is suitable for those who are living in a rented house. The losses and damages covered include flood, fire, storm, lighting, explosion, falling tree, theft, riot, or any other damages caused by earthquake, animals and vehicles.
There can be cheaper insurance with lower premiums and lesser coverage. However, one cannot predict risks and damages due to natural calamities. So, it is not advisable to save some money by going for insurance with lesser coverage. It is always better to go for insurance with wide coverage.
Household Building Insurance
This type of household insurance covers immovable items like fixtures, furnishings and fittings of the building. The insurance covers all the rooms of the building including kitchens and baths, garages, walls, windows, roofs etc. This type of insurance is suitable for those who live in their own house.
Household building insurance covers against fire, earthquake, explosion, lightning, falling tree, aircraft, theft and animal accident etc. Damaged caused owing to negligence is not covered under this insurance.
Who Should Go For Household Insurance Policy?
Household insurance policy is necessary for everyone – those who live in their own house as well as those who live in the rented house. As we cannot predict the future and as household insurance covers household contents and building against any future damages, it is necessary for all to go for household insurance.
However, one can choose the quantity of the coverage. An all-inclusive coverage covers all the 10 sections of home insurance policy. One can also opt for a separate cover, where s/he can choose the items that s/he wishes to include under the insurance's coverage.
The Coverage
The coverage of household insurance under different sections includes:
Fire and associated threat
Burglary and theft
Personal accident
Baggage
Transportation of household goods
Audio and audio-visual appliances
Breakdown of domestic appliances
Purchase protection?
Following are NOT covered under household insurance:
Damage due to war, revolution, rebellion, invasion, hostilities etc.
Damage due to destruction by government or other lawfully constituted authority order.
Depreciation and damage due to wear and tear.
Damage due to pollution.
Insurance Companies Offering Household Insurance
Following are the insurance companies that offer household insurance policy:
New India Assurance
United India Insurance
Oriental Insurance
National Insurance
IFFCO-TOKIO General Insurance
Royal Sundaram Alliance
Tata-AIG
Bajaj Allianz
Related LinksInsurance Regulatory and Development
Life Insurance Corporation of India
India Life Insurance
Insurance Policy India Company
India Car Insurance
Insurance Policy India Market
India Medical Insurance
India Home Insurance
India General Insurance
Aviva Life Insurance India
Home Loan Insurance
Accident Insurance
Comparison Life Insurance Companies
Auto Insurance in India
National Insurance Company India
Oriental Insurance India
Metlife Insurance
Sahara Life Insurance
Insurance Companies
IFFCO TOKIO
Automobile Insurance
Mutual Funds
Car Insurance
Household Insurance
Term Insurance
Questions to Ask Insurance
Types of Household Insurance
There can be two types of household insurance in general:
Household Contents Insurance
Household Building Insurance
Household Contents Insurance
Household contents insurance covers removable contents like jewelry, furniture, accessories, cloths, electrical appliances etc. This type of insurance is suitable for those who are living in a rented house. The losses and damages covered include flood, fire, storm, lighting, explosion, falling tree, theft, riot, or any other damages caused by earthquake, animals and vehicles.
There can be cheaper insurance with lower premiums and lesser coverage. However, one cannot predict risks and damages due to natural calamities. So, it is not advisable to save some money by going for insurance with lesser coverage. It is always better to go for insurance with wide coverage.
Household Building Insurance
This type of household insurance covers immovable items like fixtures, furnishings and fittings of the building. The insurance covers all the rooms of the building including kitchens and baths, garages, walls, windows, roofs etc. This type of insurance is suitable for those who live in their own house.
Household building insurance covers against fire, earthquake, explosion, lightning, falling tree, aircraft, theft and animal accident etc. Damaged caused owing to negligence is not covered under this insurance.
Who Should Go For Household Insurance Policy?
Household insurance policy is necessary for everyone – those who live in their own house as well as those who live in the rented house. As we cannot predict the future and as household insurance covers household contents and building against any future damages, it is necessary for all to go for household insurance.
However, one can choose the quantity of the coverage. An all-inclusive coverage covers all the 10 sections of home insurance policy. One can also opt for a separate cover, where s/he can choose the items that s/he wishes to include under the insurance's coverage.
The Coverage
The coverage of household insurance under different sections includes:
Fire and associated threat
Burglary and theft
Personal accident
Baggage
Transportation of household goods
Audio and audio-visual appliances
Breakdown of domestic appliances
Purchase protection?
Following are NOT covered under household insurance:
Damage due to war, revolution, rebellion, invasion, hostilities etc.
Damage due to destruction by government or other lawfully constituted authority order.
Depreciation and damage due to wear and tear.
Damage due to pollution.
Insurance Companies Offering Household Insurance
Following are the insurance companies that offer household insurance policy:
New India Assurance
United India Insurance
Oriental Insurance
National Insurance
IFFCO-TOKIO General Insurance
Royal Sundaram Alliance
Tata-AIG
Bajaj Allianz
Related LinksInsurance Regulatory and Development
Life Insurance Corporation of India
India Life Insurance
Insurance Policy India Company
India Car Insurance
Insurance Policy India Market
India Medical Insurance
India Home Insurance
India General Insurance
Aviva Life Insurance India
Home Loan Insurance
Accident Insurance
Comparison Life Insurance Companies
Auto Insurance in India
National Insurance Company India
Oriental Insurance India
Metlife Insurance
Sahara Life Insurance
Insurance Companies
IFFCO TOKIO
Automobile Insurance
Mutual Funds
Car Insurance
Household Insurance
Term Insurance
Questions to Ask Insurance
