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Overview

ICICI Lombard Homerninsurance offers a comprehensive cover for your home structure, home content orrnboth. The policy has 10 yrs coverage for structure, 5 yrs coverage for contentrnand 5 yrs of coverage for both structure and content.

Coverage

Covers structure and contents of house, Coverrnagainst Fire and allied perils, Burglary & Theft and Optional cover forrnTerrorism and Additional expenses of rent for alternative accommodation.

About ICICI Lombard Home Insurance

Key Benefits:
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  • Digitally signed policy isrnavailable 24x7 online, customer can take prints instantly. The hard copy of thernpolicy is couriered the same day (or next day if customer buys after 6 PM) andrnwill reach him/her within 2-3 working days.
  • Avail 15% discount on a 3 yearsrnhome insurance policy and 25% discount on 5 years policy.
  • Optional covers available -rnTerrorism and additional expenses of rent for alternative accommodation.

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What Does The Policy Cover?

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The Policy coverage can be divided into two parts:

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  • Structure Cover – This provides coverage to the structure of yourrnhome. The compensation under this cover will include costs to repair damages tornthe structure caused by natural and man-made calamities.
  • Contents Cover – This provides coverage  for the possessions you have inside yourrnhome. If these are damaged or burgled, then the insurance covers the loss yournincur for the same.

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You can take either one of these covers individually or optrnfor both to make sure you are covered comprehensively.

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The ICICI Lombard Home Insurance Policy has a comprehensivernrange of covers to protect your home. They are as follows:

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Fire and Special Perils (Structurernand/or Contents)

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Covers losses to the structure ofrnthe house and the contents due to any natural and man-made calamities. Therncalamities covered are :

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  • Fire
  • Lightning
  • Aircraft Damage
  • Impact Damage
  • Explosion / Implosion
  • Storm, Cyclone, Typhoon, Tempest,rnHurricane, Tornado, Flood and Inundation
  • Riot, strike ,malicious andrnTerrorism damage
  • Subsidence and Landslide includingrnRockslide
  • Bursting and/or overflowing ofrnwater tanks, apparatus and pipes
  • Missile testing operations
  • Leakage from automatic sprinklerrninstallations
  • Bush fire
  • Earthquake

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Burglary and theft(Contents)

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Covers the loss of contents due to burglary, theft or anrnattempted burglary, and loss of jewellery, gold ornaments, silver articles andrnprecious stones kept under lock and keys

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Exclusive Features:

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  • Cover of up to 10 years forrnstructure and up to 5 years for contents
  • Discounts of up to 50% availablernon long term covers
  • Comprehensive plan to cover yourrnhome and day to day risks
  • Country wide service network
  • Satellite imaging used for riskrnassessment and claims service

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Basis of Valuation of Property:

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  • Building / Structurernof your Home - The structure of your home is covered on a 'ReinstatementrnValue' basis. This is the cost of rebuilding your home with a similar newrnconstruction. It does not cover the market value of your home as the land andrnthe status value of the particular location also adds to this price. Only therncost of construction of the house is covered as land is indestructible.
  • Contents - Therncontents are covered on 'Market Value' basis, i.e. The cost of buying a similarrnitem of the same age. This includes household appliances, personal effects andrnmiscellaneous items For jewellery and furniture, value is appropriately arrivedrnat in consultation with a valuator.

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Need for Policy:

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  • Protect your single largestrninvestment against losses due to natural or man-made calamities like fire,rnfloods, burglary, earthquake.
  • Cover your household contentsrnincluding furniture, durables, clothes, utensils, jewellery, at market value tornaccommodate inflation.

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What is not covered in the policy?

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  • Willful destruction of property
  • Loss, damages and destructionrncaused by war perils, wear and tear etc.
  • Losses if your house has beenrnunoccupied for more than 30 days
  • Cash, bullion, paintings, works ofrnart and antiques