Benefits Of Add On Cover In Your Home Insurance Policy

Home insurance is a must when it comes to safeguarding your most valuable asset. Not only the structure of your house, but also the precious contents in your home need protection. And this protection is exactly what a home insurance policy provides.

A home insurance policy can handle any financial set backs that you might have to face in case of any unfortunate events, which might damage your house and/or its contents. Typically, a home insurance policy offers the following coverages:

• Damages to the structure of the insured house
• Loss or damage to content
• Loss or damage to portable equipment anywhere in India
• Loss or damage to jewellery and valuables
• Loss of or damage to "curios, works of art and paintings" whilst stored or lying in your Building

Besides these basic coverages, there are several add-on covers that you can opt for while buying your home insurance policy. You can also calculate the premium using Bajaj Allianz home insurance calculator. The benefit of purchasing a home insurance policy is that it can extend the coverage of your base home insurance plan. The extended coverage can provide enhanced protection to your house in the event of unfortunate incidents like fire, burglary, natural calamities and many other perils.

Home Insurance Add-on Covers

In line with our theme - caringly yours, we at Bajaj Allianz offer numerous home insurance add-on covers which can take care of your finances and offer complete protection to you, your family and your home in case of any unforeseen events that may cause financial worries.

Here is the complete list of add-on covers for your home offered by Bajaj Allianz:

• Loss of Rent Cover : This add-on cover is useful for the homeowners who have rented out their property to the tenants. This cover indemnifies the homeowners for the loss of monthly rent due to any perils that makes the house unfit for living & compels the tenants to vacate the place. The insured gets the indemnified amount till the house is deemed safe and good enough to start living in again.
• Temporary Resettlement cover : If you live in your own house, then this cover is a must to have. Unfortunate events such as heavy floods or fire can cause damage to your house and make it inhabitable. In such scenarios, you need to shift to a temporary accommodation. Having this cover with your home insurance policy can indemnify you for the expenses related to transportation, packing and the cost associated with moving to alternative accommodation.
• Key and Lock Replacement cover : This cover is useful for both the renters as well as the homeowners. This add-on cover provides the following coverages:
  • Loss or theft of the keys of your home
  • Loss or theft of your vehicle keys
  • Reimbursement of the cost of a locksmith for making new keys (home and vehicle)
• ATM withdrawal Robbery cover : While you ought to be careful when doing ATM transactions, you should also get this add-on cover to avoid suffering any loss due to theft and burglary right after you withdraw money from ATM. This cover reimburses you the amount you lost in case you get robbed right after doing an ATM withdrawal.
• Lost Wallet cover : This cover reimburses you for the loss incurred by you if your wallet gets stolen or it gets lost. The reimbursement includes the replacement cost of the wallet, the cash present in it when it got stolen and the cost of application for lost cards and any other important documents present in your lost/stolen wallet.
• Dog Insurance cover : We understand that your pet is also a very important member of your family. You can opt to buy this cover which can insure your dog in case it dies due to an accident and/or any diseases contracted during the policy period.
• Public Liability cover : If someone gets injured in your place of residence or their property gets damaged, then this add-on cover will reimburse for the cost of repairs resulting due to same.
• Employee's Compensation cover : If an unfortunate incident causes you a severe injury during your employment period, then this cover will compensate the injured insured person for the same.

A home insurance policy is a protection that is needed not only by the homeowners but also by the renters. A home insurance policy and its add-on covers provide overall protection to the structure of the house, the contents present in the house as well as ensuring your safety in case you meet with any mishap when you are not in your house.

Visit our website for more information about Bajaj Allianz's Home Insurance Plan and you can also explore the various general insurance plans available online.