- What are the eligibility criteria?
- What is Reinstatement Value?
- Can I insure the Compound wall of my Home?
- When does the Home Shield Online coverage start?
- When does the cover end?
- Do I get a Bonus for 'No claim' under the Policy?
- Do I get a reduced price if I opt for long term insurance?
- Can I opt out of Insurance? Will I get a refund of premium if I cancel my policy?
- Can I increase the sum insured during the currency of policy?
- What I need to do in the event of claim?
Home Insurance FAQs
Property Insurance India
- What are the eligibility criteria?
Any permanent resident of India who owns a home building within India can apply for Home shield Online Insurance.
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- What is Reinstatement Value?
It is the approximate cost that would be incurred to Reconstruct the Property (after damage or destruction), to its present form. As per Standard Procedure, the Reconstruction cost includes the value of plinth and foundation. It does not include the value of the land.
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- Can I insure the Compound wall of my Home?
Yes. You can, if you own an independent house.
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- When does the Home Shield Online coverage start?
The coverage for Home Shield Online starts immediately after the Premium amount is paid through the payment gateway by swiping your credit card.
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- When does the cover end?
The cover ends either at the completion of the period of insurance chosen, or when the ownership of the Insured Home building changes, or when the building ceases to be occupied for `Residential Purpose’.
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- Do I get a Bonus for 'No claim' under the Policy?
No.
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- Do I get a reduced price if I opt for long term insurance?
Yes. If you opt for coverage for 3 years or more, you are eligible for a long term discount on premium as shown below.
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TENURE OF INSURANCE IN YEARS LONG TERM DISCOUNT
%3 15% 4 20% 5 25% 6 30% 7 35% 8 40% 9 45% 10 50% 11 50% 12 50% 13 50% 14 50% 15 50% - Can I opt out of Insurance? Will I get a refund of premium if I cancel my policy?
Yes, all you need to do is, call our customer service or write to them to inform about your intention to cancel the policy. However, refund of premium will be on short period rates. Please go through the policy terms and conditions for complete details.
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- Can I increase the sum insured during the currency of policy?
Yes. You can increase it by paying a pro-rata premium.
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- What I need to do in the event of claim?
In the event of claim, you need to intimate us in writing, or over the phone to our Customer Services Toll Free Number 1800-3458899/ 94444 48899.
They can also intimate the claim online, or download the claim form from the website.- ^Top
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