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Home insurance covers much more than your property

The importance of your home is not just recognised by us, but also by regulatory bodies and the government. Despite investing a considerable amount of time and effort in scouting for our perfect homes, we often tend to overlook the importance of safeguarding it and its contents in the long run.

Home insurance continues to be one of the most neglected cover due to the lack of understanding of it. Let us demystify some myths to understand this cover better

Home insurance is a comprehensive cover which protects not only your property, but also its contents

Contrary to the myth that only your property will be protected from a peril like fire or burglary, home insurance provides a comprehensive cover against the loss or destruction of portable equipments, electrical & electronic appliances and even jewellery and valuables. This saves you the headache of purchasing multiple covers for different assets and against different hazards.

Home insurance covers rented properties alike: While you may not own the place where you live, your home and its contents are still dear to you and have the possibility of being damaged by the same dangers as a self-owned home. In such a contingency, if you are covered by home insurance, all your assets in the house enjoy the same protection as well.

Loss of cash whilst in transit: While your society may have the privilege of beefing up their security, one still runs the possibility of loss of money while in transit from the ATM to the house. Home Insurance covers and compensates for such losses and robberies that one may encounter.

Acts of God also covered by home insurance: Contrary to the popular misnomer, home insurance actually protects your safe haven from a variety of natural calamities including floods, natural fires etc. Different policies offer different covers, as deemed suitable by them. In such cases, you should ideally go for one with the maximum coverage

Personal accident: Accidents don’t see the time or place, hence they are called accidents! A good home insurance policy will protect you from all personal accidents that you may encounter within the boundary of your home, including death.

Key replacement: How many of us have been in a situation where we are in the midst of a hustle-bustle, only to realize that we have misplaced our home/vehicle keys. Interestingly, your home insurance can reimburse the cost of replacing your Home and/or vehicle keys which are lost or stolen.

Be it your own or rented, homes signify comfort, protection and stability. Hence, it is imperative for us to secure this asset and its contents from all the probable perils which it may encounter. This Diwali, let’s safeguard what protects us.


  • If you are covered by home insurance, all your assets enjoy the same protection as well.
  • Home Insurance covers and compensates for such losses and robberies

The writer is head – product development, SBI General Insurance

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