What are the exceptions against cover within the purview of the Householders Insurance Policy?
Under Section 1 (B) the Householder’s Insurance policy, any loss or damage suffered to the following is treated as an exception and cannot be claimed. Consumable articles Money/ Securities/ Stamps/ Stamp collection Bullion and Livestock Motor vehicles and Pedal cycle Deeds/ Bonds/ Bills of exchange/ promissory notes/ Shares Books/ Manuscripts Loose precious stones, Jewellery and valuables How do we get the valuation done of our property? The contents are covered on market value i.e. the cost of buying a similar new item after deducting appropriate depreciation on the basis of the age of the item. This includes household appliances, furniture, jewellery, personal effects and miscellaneous items. What happens if a house is sold? If the new owner of the house wants to continue the cover, we might issue an endorsement on the name of the insured and pass the policy in the name of the current owner of the house. On what basis are the structure and contents insured? The structure of your home
