- Home Building Cover: Protects the physical structure (walls, roof, fixtures) and additional structures like garages, compound walls, and solar panels.
- Home Contents Cover: Protects general household items like furniture, appliances, and electronics.
Home Insurance
In 2026, Home Insurance in India is primarily centered around standardized products mandated by the IRDAI, designed to provide transparent and affordable protection for homeowners and tenants alike.
Standard Home Insurance Policy
The Standard Policy: Bharat Griha Raksha (BGR)
Introduced to simplify home insurance, this standard policy is now offered by all general insurers in India. It provides comprehensive coverage for residential buildings and their contents.
📦
Automatic Content Cover
- If you cover the building, general contents are automatically covered for 20% of the building's sum insured (up to a maximum of ₹10 lakh) at no extra cost.
🛡️
No Underinsurance
- A unique feature of BGR is that if your home is insured for less than its actual value, the insurer will still pay the full claim amount (up to the sum insured) without proportionate reductions.
Why Bharat Griha Raksha Stands Out
Introduced to simplify home insurance, this standard policy is now offered by all general insurers in India. It provides comprehensive coverage for residential buildings and their contents.
Home Insurance Coverage
Key Inclusions & Perils Covered
Policies typically cover damage caused by:
Natural Disasters
- Fire, lightning, earthquake, flood, storm, cyclone, and landslide.
Man-Made Events
- Theft, burglary, riots, strikes, acts of terrorism, and malicious damage.
Accidental Damage
- Bursting of water tanks/pipes and impact damage from vehicles or aircraft.
Additional Protection
In-built & Optional Add-ons
Alternate Accommodation
Covers rent or hotel costs if your home becomes uninhabitable due to a covered peril.
Fees & Debris Removal
Pays for professional fees of architects/surveyors (up to 5% of claim) and debris removal (up to 2% of claim).
Valuable Contents
Optional cover for high-value items like jewelry, silver, and fine art on an "agreed value" basis.
Personal Accident
Compensation of ₹5 lakh if a covered peril results in the death of the insured or their spouse.
Home Insurance Policy
Standard Exclusions
Claims are generally not paid for:
Important Exclusions
Understanding what is not covered is just as important as knowing what is covered. Always review the policy exclusions before purchasing your home insurance.
Wear and Tear
Gradual deterioration or damage due to poor maintenance.
Wilful Misconduct
Intentional destruction by the homeowner or residents.
War & Nuclear Risks
Losses due to war, invasion, or radioactive contamination.
Unoccupied Homes
Theft/burglary losses occurring if the home is left vacant for more than 30 to 60 consecutive days (check specific policy limits).