Does Unoccupied Homes in India Need Insurance?

Unoccupied homes are those properties that have no occupants, i.e., these homes are vacant and neither the homeowners nor the tenants live there. Following are some scenarios, where a property is said to be unoccupied:

• Today’s work culture requires many of you to travel for most part of the year, so, your house may be unoccupied when you are on some official tour.
• You might have multiple properties, out of which a few are vacant.
• You might be travelling onsite for a year or two, for job opportunities or pursuing career growth with your family, leaving behind a vacant home in India.
• If your parents are living with you in the city where you work, for most of the time, their house in your hometown might be unoccupied for a considerable period of time.

The chances of unfortunate incidents happening in an unoccupied home are very high. Besides activities like theft, burglary and damage, an unoccupied property is also susceptible to accidents such as fire, gas leaks, electrical damage, damage done to the house due to dripping of faucets etc. The damage caused by such incidents hurts you mentally as well as financially, and thus, having home insurance for unoccupied property is as essential as having home insurance for a house where you or your tenants live. Your home(s) is one of the most valuable assets that you own. For many of you, it is a long-sought dream and result of your hard work. Whether your house is vacant or inhabited, you would always want it to be protected, which you can ensure by buying an adequate home insurance policy with required add-on covers, you can now calculate premium using home insurance calculator by Bajaj Allianz. A home insurance policy safeguards you financially, in case of any unforeseen event such as earthquake, flood, fire, theft and burglary. A householder policy not only covers your home, but also the contents housed in it. Typically, a home insurance policy covers you for:

• Loss/Damage done to your home due to natural disasters such as earthquakes, floods, fire etc.
• Loss/damage done to your home due to incidents such as theft, burglary and any other accidental damage
• Loss/damage to content
• Loss/damage to portable equipment
• Loss/damage to valuable items such as jewellery and paintings

We at Bajaj Allianz, offer a wide range of add-on covers with our home insurance policy that can enhance the coverage of your base plan and thus provide you extensive wall-to-wall coverage at affordable premium rates. We are sure you will make the right choice and choose to secure your unoccupied home with an adequate home insurance policy. You can check out the features, coverages and benefits of Bajaj Allianz’s My Home Insurance Policy on our website. Get a home insurance quote today!