Structure Cover– This is for the structure of your home. The compensation under this cover will be paid to repair damages to the structure caused by specified natural and man-made calamities.
Contents Cover– This is for the possessions you have inside your home. If these are damaged or burgled, then the insurance covers the loss you incur for the same
You can take either one of these covers individually or opt for both to make sure you are covered comprehensively. The Home Insurance Policy of ICICI Lombard has a comprehensive range of covers to protect your home.
Covers losses to the structure of the house and the contents due to any specified natural and man-made calamities.
Terrorism (Structure and/or Contents) It covers losses to the structure of the house and the contents due to acts of terrorism.
Building / Structure of your Home The structure of your home is covered on a Reinstatement Value basis. This is the cost of rebuilding your home with a similar new construction. It does not cover the market value of your home as the land and the status value of the particular location also adds to this price. Only the cost of construction of the house is covered as land is indestructible.
Contents The contents are covered on ‘Market Value’ basis, i.e. the cost of buying a similar item of the same age. This includes household appliances, personal effects and miscellaneous items. For jewellery and furniture, value is appropriately arrived at in consultation with a valuator.