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Your quest to find the answers to your queries about home loans now ends here. It takes a whole lifetime of savings to build a house and one cannot predict a natural calamity like earthquake. In recent times we have seen what disaster an earthquake or any other natural calamity such as floods, landslides and torrential rains can wreck. Hence home insurance is very important. Home insurance policy also protects against other hazards like gas cylinder explosion, fire due to electric short circuit as well as man-made disaster like burglary. Home insurance policy can be divided into two parts:

• Building structure
• Contents inside the home

Insurance Covers for a Building Structure are:

• The Fire and Special disaster cover

  This is a comprehensive packaged cover that covers damages to the structure of home due to

  • Fire.
  • Storm, tempest, flood & inundation.
  • Riot, strike & malicious damage.
  • Lightning.
  • Explosion & implosion.
  • Aircraft damage.
  • Damage due to impact by vehicles.
  • Bursting and/or overflowing of water tanks, apparatus and pipes.
  • Missile testing operation.
  • Leakage from automatic Sprinkler installations.
  • Bush fire.
• Earthquake Cover

  Covers damages to the structure of your house due to earthquake.

• Terrorism Cover

  Covers damages to the structure of your house due to acts of terrorism.

• Insurance Covers for Contents Inside the Home

  This cover is only for damages or loss of the contents inside the home -electronic and electrical goods, furniture and fixtures, clothing, jewelry and any other contents inside the home. The covers that can be taken for the contents are as follows:

  • The Fire and Specials Perils Cover.
  • Earthquake Cover.
  • Burglary.
  • Loss / damage to contents due to burglary or an attempted burglary.
  • Loss of jewelry, gold ornaments, silver articles and precious stones kept under lock & key.

Please note these requirements are for Indian Citizens.

• Salaried Individuals.
• Self-Employed/Businessmen.
• If a flat is purchased from the builder.
• If the property is being purchased is in Cooperative Society.
• If constructing on own land.

Salaried Individuals

• Salary Slip/Form 16 a.
• A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bill.
• A photocopy of Investments (FD Certificates, Shares, any fixed asset etc. or any other documents supporting the financial background of the borrower).
• A photocopy of LIC policies with the latest premium payment receipts (if any).
• Photographs (as applicable).
• A photocopy of bank statement for the last six months.

Self-Employed/Businessmen

• A brief introduction of Business/Profession.
• Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.
• A photocopy of advance Tax payments (if applicable).
• A photocopy of Registration Certificate of establishment under shops and Establishment Act/Factory Acts.
• A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).
• Bank statements of Current and Saving accounts for the last 6 months.
• A photocopy of Certificate of Practice (if applicable).
• A photocopy of any bank loan (if applicable).
• A photocopy of the first and last pages of the Ration card or a photocopy of PAN/Telephone/Electricity Bill.
• A photocopy of LIC policy (if applicable).
• A photocopy of investments (FD Certificates, Shares, any other fixed asset).