What does a homeowner’s insurance policy cover?

Conidering the word homeowner, you must be asking about insurance for your home or your building.

It depends from company to company, but here are the things you can ask to be covered under for your home.

1. The entire building - physical structure, brick and mortar in your home. Ensure to estimate the cost of your building by including the materials used like cement, TMT bars, concrete, bricks, flooring material, paint, staircase grills. Calculate the value of your home, Include everything that went into while constructing the home.


2. Clothes, furniture, appliances, electric components like switch, wires, doors, windows, gate, compound wall, bathroom fittings, kitchenware, Mattresses.


3. Jewellery can be covered after showing the bill and insurance company verifies the value. Cash is not covered.


4. You can cover the people in the house as well.


5. Damage due to fire, water, quake, lightning, wind, natural calamities, theft, terror attacks are covered. Damage due to missile or army testing, war, riots, strike are not covered.


6. Any damage done accidentally by self (but must not be intentional) or others are also covered.


7. You also have public liability coverage where you can get insurance for others if there is some damage or injury, loss to neighbouring buildings or other people because of your home. Eg: You were carrying a item and it damaged your neighbor's home or injured a person accidentally. You can claim insurance.

In short home insurance compensates you similar to a bike or car insurance.