Q1: Which contents are covered under a home insurance policy?
Aman Patni2024-08-06T18:25:19+05:30Home insurance typically covers furniture, appliances, electronics, jewellery, and personal belongings against damage or loss.
Q2: Is it compulsory to buy home insurance from the designated bank?
Aman Patni2024-08-06T18:26:52+05:30No, you are free to choose any insurance provider. Banks may recommend insurers, but you have the flexibility to select based on your preference.
Q3: What do you mean by reinstatement cost?
Aman Patni2024-08-06T18:27:42+05:30Reinstatement cost is the amount required to repair or replace damaged property without considering depreciation, ensuring you can restore it to its original condition.
Q4: How is the sum assured computed?
Aman Patni2024-08-06T18:29:06+05:30The sum assured is based on the estimated value of the building structure and contents, considering factors like construction cost and market value of household items.
Q5: Is the compound wall covered by home insurance?
Aman Patni2024-08-06T18:29:48+05:30Yes, most home insurance policies cover the compound wall as part of the building structure, protecting it against damage from covered perils.
