What Are The Exclusions in Your Home Insurance Policy?

A home insurance policy protects you from the risk associated with the loss/damage that may be caused to your home and/or its contents due to any unpredictable events. Having this protection is important because home is your one of the most valuable asset and it takes a fortune to build your dream house and decorate it with precious contents.

A home insurance policy has the following coverages:

• Coverage for loss/damage to your house/contents in case of risks such as:
  • Fire
  • Burglary
  • Theft
  • Accidental damage
  • Flood
  • Earthquake and more
• Coverage for loss/damage to portable equipment anywhere in India
• Coverage for loss/damage to jewellery and valuables

We are sure that you must have checked these coverages under your home insurance plan before purchasing the same. But, did you check the exclusions of your home insurance policy? Yes, it is equally important to know what is not covered in your home insurance policy, so that you sail through the home insurance claims process smoothly.

General exclusions of a home insurance policy in India

Typically, a home insurance policy does not cover loss/damage done to your house/contents in the following scenarios:

• Intentional/willful destruction of the property (home and contents)
• Any property which is kutcha construction
• Pre-existing damage to the structure of your home and contents
• Manufacturing defects in electrical, mechanical and electronic items
• Loss/damage to articles of consumable nature
• Mysterious disappearance and unexplained losses
• Improper handling of contents
• Loss/damage directly or indirectly in consequence of war or invasion
• Loss/damage caused by radio activity from any nuclear fuel or from any nuclear waste
• Theft and burglary claims, if the insured house is left unoccupied for more than continuous 45 days

We hope that you go through your policy document carefully and understand not only the coverages, features, benefits, inclusions and premium details of your home insurance policy, but, have a clear understanding of the exclusions of your policy as well. Having the knowledge of the things not covered in your home insurance policy will let you file a legitimate claim and save you from the trouble of going through a claim settlement process that ultimately rejects your claim.

At Bajaj Allianz, we understand the financial pressure that any loss/damage to your prized possessions can bring and thus, we offer My Home Insurance Policy, which takes care of your finances in case of an unfortunate event.

Read more about Home Insurance on the Bajaj Allianz General Insurance website.