Updated on: Jan 13th, 2022
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5 min read
Home Insurance is an arrangement in which the company undertake a guaranty for loss arising from insured property, its contents, loss of use, and other thing in personal possession in the insured property. It also includes any accident which may arise in the property of insured or area near by insured property which is included in policy document along with the damages caused by household pets or any members of family to other people.
Home Insurance provides coverage for loss or damages to property, contents, and personal assets. Eligibility criteria include ownership or residency in India. The policy covers various incidents like theft, storm, or burglary but excludes normal wear and tear, war-related damages, or electronic equipment malfunctions. Claim settlement process involves documenting the loss, contacting the insurance company, and providing necessary information for assessment.