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Basic Details - HDFC Ergo General - Home Insurance

Incorporation Date : 08/02/2002
Company Name : HDFC Ergo General
Fund Name : NULL Plan Group : Individual
Product Type : Individual Sub Product Type : Home
Home Insurance
With HDFC ERGO Home Insurance Policy, you can choose to cover the structure of your home only or include the household contents as well in a single policy with minimum documentation.

The policy covers:-
Fire and Special Perils:-Building(Section I) and Contents(Section IA)
The Policy covers the structure of your home and contents against damage due to fire and allied perils as mentioned below:-
Fire
Lightning
Explosion/Implosion
Aircraft Damage
Riots, Strike and Malicious Damage
Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
Impact Damage
Subsidence and Landslide including Rockslide
Bursting and/or Overflowing of Water Tanks, Apparatus & Pipes
Missile Testing Operations
Leakage from Automatic Sprinkler Installations
Bush Fire
Earthquake, Volcanic Eruption & other Convulsions of Nature

The sum insured for the structure of the house is based on the Reinstatement Value. Quite simply, it would be the reconstruction cost of the house in the event of any loss/damage due to any of the insured events like Fire, Riots, Storm, Flood and so on.

The reconstruction value for the structure is determined by the construction cost. This, however, would not include the cost of Land. The reconstruction cost is based on two parameters which are mentioned below:-
Built Up Area of the House (Square Feet)
Cost of Construction in your area / locality

Burglary and Housebreaking including Larceny and Theft (Section II) - Contents (as defined by Indian Penal Code) You can also insure the contents of your home against loss due to burglary and /or housebreaking or any attempted burglary. Jewellery kept in Locked Safe within the Home premises can also be covered.

Sum Insured for Contents under Section I A:- Fire & Special Perils and Section II:- Burglary & Theft should be the same.

The Sum Insured for Contents / Valuables is based on the market value. Market value would mean the current cost less depreciation, in the event of loss / damage. For jewellery, you would not have to deduct depreciation.