What is the procedure for assessing the value of my home structure and its contents?
The value of your home structure is assessed as per the area of your home multiplied by the rate of construction per. sq. feet, as on the date of taking the policy. For example, if your home is 1000 sq. feet and the construction rate per sq. feet is Rs. 800/-, then the sum insured for your home?s building structure is Rs. 8,00,000. On the other hand, the contents are assessed on the market value of the items. This means that if there were a loss, the claim would be paid on the value of purchasing a similar new item, less depreciation for the usage. I live on rent, why would I require insurance? We have an option to cover your Contents. Our comprehensive Home Insurance policy covers your: Household appliances Jewellery Furniture & fixtures Personal items at your home Against fire and allied perils like earthquake, terrorism and burglary. I live in a building insured by my society. Would I need to take additional Insurance? The insurance that your society provides may offer you a limited
