SBI Home Insurance

SBI Home Insurance

SBI General Insurance is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI General has an excellent network across India. SBI General is catering to all the major segments such as corporate, retail, and SME.

 

SBI Home Insurance is a comprehensive and innovative home insurance policy for house owners who want to protect their homes against contingencies. SBI General Home Insurance shields your home against all sorts of natural and human-made calamities. SBI Home Insurance policy provides you stress-free life in your dream home.

 

Features of SBI Home Insurance

  • SBI Home Insurance gives coverage for the structure and contents of the house.
  • SBI Home Insurance provides coverage against all sorts of calamities like earthquakes, floods, storms, landslides, etc.
  • SBI Home Insurance tenure ranges from three to thirty years
  • Coverage against terrorist activities can also be added by paying some additional premium.
  • Premium depends on the location and tenure of the policy.
  • Damage occurred due to human-made calamities like strikes, riots, etc. are also covered.
  • House owners and tenants both can also can buy an SBI home insurance policy.

Types of SBI Home Insurance

The long term Home Insurance

Under this plan, coverage is provided for the structure of the house against all types of natural and human-made calamities. This type of insurance cover can be taken for 3 to 30 years.

Simple Home Insurance

Under this plan, coverage is provided for the structures as well as the contents of the house against all types of unforeseen risks. It also provides personal accident cover to the insured. This type of home insurance can be taken for a minimum of 1 year to a maximum of 3 years.

 

The construction of a home involves a lot of money, emotions, and time. The great pleasure lies in the lively abode where our loved ones spend precious and adorable moments. We get connected to each and everything in the home. 

We all want to secure the symbol of beautiful memories and achievements against natural calamities and man-made reasons. The only shield to safeguard your dream is to buy a home insurance policy.

Subscribing to a comprehensive home insurance policy provides you complete coverage against financial liabilities arising due to man-made and natural calamities. Some extra coverage in the policy can provide you protection against theft, burglary, fire, vandalism too.

Home insurance policy

A home insurance policy is a contract between an insurance-providing company and a homeowner/policyholder, where the policyholders pay an agreed amount as a premium, while the insurer pays compensation for loss caused to your home due to natural disasters or man-made hazards. 

Home insurance is provided by general insurance companies. The policy can have various sections such

Standard Fire and special peril

This policy provides coverage against damages caused due to natural calamities like fire, lightning, earthquake, floods, storm, and man-made activities like strikes, vandalism, riots, or any loss due to malicious intent.

Home Structure and building 

This policy covers the structure of your house against all types of risks. It includes permanent fixtures and fittings too.

Public Liability Coverage

Such a home insurance policy covers damage caused to any third party/guest inside the insured home.

Theft and Burglary

The policy covers the loss if any theft or burglary happens and valuable items are stolen in the insured house.

Contents Insurance

Such type of home insurance policy safeguards the goods such as TV, refrigerator, jewelry, etc inside your home from loss due to theft, fire, flood, or any sort of mishap.

In a nutshell, a comprehensive home insurance package not only covers your home including precious belongings but also an accident and third-party liability against all types of man-made issues and natural disasters. Based on the policy you opted for, it also covers the rent expenses in case you shift to another house as your insured house has been damaged due to any reason listed in your policy.

Best Home insurance plans and companies 

• SBI General Long Term Home Insurance Plan

• HDFC Ergo Home Shield Plan

• New India Insurance Griha Suvidha Plan

• Oriental General House Holder Insurance Plan

• Royal Sundaram Gruh Suraksha Plan

Benefits of Home Insurance

Shield for your precious belongings & dream home

Home insurance policy with add ons provides extensive insurance coverage safeguarding your home garage, shed, fence, and home contents like furniture, electronics, etc.

Replacement facility

Home insurance provides you total financial security based on your policy. You can even get your product replaced.

Affordable

Buying home insurance is not very expensive. The premium paid in this is less if you compare it with the amount of safety you get after home insurance.

Peace of mind

In the present time, having a peaceful mind is the ultimate luxury. A beautifully designed and well-equipped home is the creation of your hard-earned money. The fear of losing it due to any reason is a nightmare. The only way to attain peace is to buy insurance for your property and belongings.

Process of claiming home insurance

• Firstly, inform your insurance company about the damage or destruction that occurred due to any reason covered in your policy.

• Submit the written claim form within the stipulated time

• Exactly mention the details of lost/damaged goods and their cost.

•The insurance company will appoint a surveyor who will submit the final survey report and the document submitted by the policyholder.

• After receiving the required documents the insurance company will process the claim for approval.

•On approval of the claim, a letter is sent to the policyholder mentioning the approved amount along with the discharge voucher.

 

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FAQs

Q.What are the benefits of Home insurance?
Ans. A comprehensive home insurance package provides you complete peace of mind by covering your home including precious belongings, an accident, and third-party liability against all types of man-made issues and natural disasters. Based on the policy you opted for, it also covers the rent expenses in case you shift to another house as your insured house has been damaged due to any reason listed in your policy.
Q. What is home insurance policy ?
Ans. A home insurance policy is a contract between an insurance-providing company and a homeowner/policyholder, where the policyholders pay an agreed amount as a premium, while the insurer pays compensation for loss caused to the home due to natural disasters or man-made hazards.
Q. What is home insurance?
Ans. Comprehensive home insurance provides you complete coverage against financial liabilities arising due to man-made and natural calamities. Some extra coverage in the policy can provide you protection against theft, burglary, fire, vandalism too.
Q.What are the home insurance providing companies?
Ans. There are many good home insurance companies SBI General Long Term Home Insurance Plan HDFC Ergo Home Shield Plan New India Insurance Griha Suvidha Plan Oriental General House Holder Insurance Plan Royal Sundaram Gruh Suraksha Plan
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