Natural Calamities and man-made dangers can threaten the security of your home. ICICI Lombard Housholder’s Policy will provide security to it and help in re-creating it, in the case of damage occurs due to unforeseen circumstances. Hence, ICICI Lombard Home Insurance Policy helps to Safeguard your home as well as its contents against natural calamities, theft or other perils.
ICICI Lombard Home Insurance Policy Review
The ICICI Lombard General Insurance Company Limited a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited. The ICICI Lombard Insurance Company offers various insurance products like home insurance, Travel Insurance, Medical and health insurance and motor insurance. A home is susceptible to many possible threats like burglary, theft, fire, and natural disasters like earthquake, tornados, and storms. Home Insurance Policy provides protection and safety to your house from unforeseen disasters and damages.
ICICI Home Insurance, the best policy offered by the ICICI Lombard General Insurance Company. ICICI Lombard Home Loan Insurance Policy not only covers home but also for the valuable things in our house. The Home Loan Insurance Plan covers all your assets and valuable things owned by you. This Company offers the Household Insurance alternate accommodation when your own house is damaged unexpectedly. The Home Insurance Policy provides rebates on insurance cover option. You can calculate the Home Insurance Premium using the ICICI Premium Calculator.
ICICI Lombard General Householder’s Insurance Features and Benefits
ICICI Lombard Home Insurance Policy has many features and benefits shown as follows:
- Home Insurance Policy provides the coverage against Earthquake, floods, cyclone, The Explosion of Fire, Burglary and Theft, Terrorism Act.
- Offers the expenses for alternate accommodation when you will pay the extra premium.
- The compensation for alternative accommodation is Rs. 1 lakh for up to 6 months. This is applicable when the you are insuring for the structure of your house.
- The company gives the discount of 25% on Content (belongings) Insurance and 50% discount on Structure Insurance.
- They are providing the structure coverage up to 10 years, content (belongings) coverage upto five years.
- For both structure and content coverages up to 5 years.
- Buy the home insurance policy through online, plan delivered at your doorstep also.
ICICI Lombard Home Insurance Policy Coverages
The ICICI Lombard Home Insurance Policy covers losses to the structure and content of your home, that might occur due to a number of natural and/or man-made calamities. The following are the ICICI Lombard Home Insurance Policy Coverages.
- Loss or damage caused due to natural and man-made calamities. The calamities covered are Fire, Lightning, Impact damage, Aircraft damage, Explosion / implosion, Storm, cyclone, typhoon, tempest, hurricane, tornado, flood and inundation, Riots, strike, malicious and terrorism damage, Subsidence and landslide including rockslide, Bursting and/or overflowing of water tanks, apparatus and pipes, Missile testing operations, Leakage from automatic sprinkler installations, Earthquake.
- The content of your home is also covered against loss due to burglary or an attempted burglary/ housebreaking including theft.
- It also covers loss of jewellery, silver articles and precious stones kept under lock and key, up to 25% of the total content sum insured or 1 lakh, whichever is lower.
- In addition to the basic policy coverage, you can opt for useful add-on covers that add to your protection.
- If you are forced to shift into an alternative accommodation because your home is destroyed or damaged by any insured peril, the policy will cover your additional rent expenses. This cover is available only if you are insuring the structure of your home.
ICICI Lombard General Insurance Home Plan Exclusions
The following are the ICICI Lombard Home Insurance Policy Exclusions i.e, Not Covered:
- Willful destruction of property.
- The Loss, damage and destruction caused by A nuclear group of perils and War, wear and tear etc.
- Losses if your home has been unoccupied for more than 30 days, without prior notice to the company.
- Cash, bullion, painting, works of art and antiques.
- Theft, Losses due to electrical fluctuations, Seepage, Electrical/ Mechanical Breakdown.
ICICI Lombard Home Insurance Plan Online Renewal Procedure
The ICICI Lombard General Insurance Renewal possible in two ways. Either through offline or by online. For offline renewal process, the insured must visit the ICICI Lombard Branch Office within the grace period. Insured should fill the corresponding forms regarding the policy and make a payment. The Renewal process through Offline is a time taking process. To make renewal process easy for the policyholder, ICICI General Insurance company offers Online Renewal option. The ICICI Lombard renewal through online is an easy process compared to the offline process. ICICI Lombard General Insurance renewal option assist you to renew your Insurance Policy through online.
ICICI Lombard Insurance Householders Plan Premium Calculator
The ICICI Lombard Premium Calculator is to calculate Premium amount for yearly, half-yearly, quarterly and monthly of any Home Insurance policy. The Maturity Calculator provision helps policyholder to calculate the premium and amount paid to the insured after maturity. ICICI Lombard Insurance Premium Calculator is useful to calculate their Maturity amount and premium amount. To make your Home comfortable, this Home Insurance offers a broad range of solutions. If you are looking for a plan that guarantees protection ICICI Lombard Home Plans are the best Option for you. Therefore, the data required for calculating premium amount Home Insurance Policy using following details:
- Enter Name.
- Date of Birth.
- Mobile number and email.
- Policy term.
- Sum Assured.
ICICI Lombard Householders Insurance Plan Buying Process
The ICICI Lombard Home Insurance Policy buying procedure is available here. The Buying process of householder’s policy is very simple if you have all the information regarding documents with you. Before buying the Home Insurance, read the Plan details carefully. The Appointee can purchase the ICICI Lombard Home Insurance Policy in two ways either offline or online. The Life assured those who want to take the new Home Insurance Policy need to check the complete details:
- Application Form along with Passport Size Photograph.
- Age Proof.
- Address proof.
- Medical report etc.
ICICI Lombard General Home Insurance Policy Claim Procedure
- The Insured have to call the Toll Free Number of ICICI Lombard 1800 2666 and provide the necessary details regarding their Claim.
- The Claim Request will be sent to ICICI Lombard Claims Department.
- After the Registration of Claim by the Claims Department, the Insurer will appoint a Surveyor within 48 hours.
- The Policy Holder have to submit the relevant documents to the Surveyor and the Surveyor Submits the Final Report within 7 days to the Insurer.
- The Claim will be processed within 7 days by the Claims Department on receipt of Documents from the Surveyor.
Furthermore, details about ICICI Lombard Home policy one can check the below brochure
FAQ’s of ICICI Lombard Home Insurance Policy
How can we renew home insurance policy?
You can renew your policy by visiting the nearest branch. Alternatively, you can also visit icicilombard.com and renew your home insurance policy instantly.
What is the procedure for assessing the value of my home structure and its contents?
- The value of your home structure assessed as per the area of your home multiplied by the rate of construction per. sq. feet, as on the date of taking the policy. For example, if your home is 1000 sq. feet and the construction rate per sq. feet is Rs. 800/-, then the sum insured for your home’s building structure is Rs. 8,00,000.
- On the other hand, the contents are assessed on the market value of the items. This means that if there were a loss, the claim would be paid on the value of purchasing a similar new item, less depreciation for the usage.