Additional Benefits
Expenses incurred on removal of debris up to 1% of the claim amount
Expenses incurred on Architect, Surveyors and consulting fees up to 3% of the claim amount
Householders Package Policy
Home is where the heart is and that is exactly what the Householders Package Policy protects!
Magma HDI's "Householders Package policy" is devised to cater to the overall requirement of you as a House owner. Under this policy, we have combined a number of contingencies, which are normally covered as separate policies.
Coverage in the form of various optional sections
Fire & Allied perils - Building & Contents
- This section covers structure of the Building
- Contents excluding money and valuables can also be covered under this section
- Covers your property against loss or damage due to below perils:
- Fire
- Lightning
- Explosion / Implosion
- Aircraft Damage
- Riot, Strike, Malicious and Terrorism Damage
- Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
- Impact Damage
- Subsidence and Landslide including rock slide
- Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
- Missile Testing Operations
- Leakage from Automatic Sprinkler Installations
- Bush Fire
Burglary & Housebreaking
- This section covers loss or damage by actual or attempted burglary and/or robbery during the policy period in respect of all contents covered under Standard Fire & Special Perils section.
All Risk (Jewellery & valuables)
- This section covers loss damage to your jewellery and other valuable items including precious stones etc. whilst kept or lying in your house or whilst worn during the travelling and/or in any social function occasioned by fire, theft, robbery or any other fortuitous event.
Plate Glass
- This section covers accidental loss or damage to Plate Glass/ Neon Sign/ Glow Sign
Electronic Equipment
- This section covers loss of or damage to your personal computers, Television, Audio/ video
Breakdown of Domestic Appliances
- This section covers the Domestic Appliances/ machines such as Air conditioners, Refrigerators against the risk of unforeseen and sudden mechanical and/or electrical breakdown.
Employee's Compensation
- This section protects you against any legal liability which your domestic helps or his/her legal heir may bring against you due to injury and / death suffered by them during and out of employment suffered in the premises covered under the policy.
Public Liability
- This section covers you against legal liability including the defence cost incurred by you in respect of accidental bodily injury to third parties and/or accidental loss and/or damage to property belonging to third parties.
The policy does not cover the following:
- Misrepresentation, mis-description, or non-disclosure of any material information.
- Damage which is pre-existing in nature.
- Manufacturing defects in electrical, mechanical, and electronic items.
- Loss or damage to any Insured Property removed from your home to any other place.
- Loss of earnings, loss by delay, loss of market.
The above exclusions are indicative in nature, for detailed exclusions please refer to the policy wordings
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Home insurance package policy will typically constitute coverage for the structure, its contents, liability of the house owner in case bodily injury to a third party and personal accident. Best home insurance company in India will typically have a comprehensive product, customer oriented servicing machinery, a robust claims settlement process and unwavering commitment towards fair assessment. House insurance in India is competitively priced and benefits outweigh the cost. Indians have multiple options to choose from and irrespective of the location, and with a little help, one will be able to find the best home insurance policy in India, suiting their needs.