HDFC Ergo Home Insurance

4 / 5 based on 23 User Reviews

HDFC Ergo Home Insurance Overview

A joint venture between India’s leading Housing Finance Institution, HDFC Ltd and ERGO International AG, the primary insurance entity of Munich Re Group. HDFC Ergo General Insurance Company provides multiple insurance plans like Travel Insurance Plans, Health Insurance Plans, Motor Insurance Plans, Personal Accident Plans, Home Insurance Plans for Individuals and Property, Marine and Liability Insurance for the corporate sector too which are tailor made and customer friendly and completely transparent. Now, we will have an overview of HDFC Ergo Home insurance plans.

 As the saying goes “being secure is always better than being sorry” and is appropriate in case of where home is concerned as this is one of the prime belonging in any individual’s life . Home is one place where valuable time is spent with loved ones and hence it requires complete and full proof protection from all the associated risks of manmade as well as nature.  HDFC Ergo Home insurance plans have all encompassing Home Insurance Plans which protects the house in every possible way.

Why any one should go for HDFC Ergo Home insurance plans?

There are couple of reasons as to why one should avail Home Insurance Plans from HDFC Ergo Insurance Company; these can be summarized as follows:

  • Home Insurance Plans covering the risks and related loss from burglary, theft, fire, lightning, explosion, implosion, flood, etc.
  • The plans cover for prized possessions and other valuables too.
  • The plan coverage is upto 5 years.
  • Discount upto 25% and additional discount for security features.
  • An exclusive cover for home owners with long term coverage.
  • This plan provides full guard to the property and its contents as well.
  • All the plans come with attractive add-ons which help to customize the plan.
  • All plans come with low cost premium under the plans with rebates.
  • Flexibility to choose between two plans :
    • Part I-Coverage against Fire together with some other Perils i) Building and ii) Contents.
    • Part II- Burglary and Housebreaking.

Various Plans

Part I - Coverage against Fire together with some other Perils i) Building and ii) Contents.

  • The plan covers loss against burglary, theft, fire, lightning, explosion, implosion, flood, inundation, storm, riots, earthquake, terrorism, larceny, damage by aircraft, strikes and
  • malicious damage, cyclone,  tempest, hurricane, typhoon, impact damage, subsidence and landslide, rockslide, bursting and /or teeming of water tanks, equipment and tube, rocket testing procedure, leakage from automatic sprinkler installations, bush fire, volcanic eruption and other spasm, terrorism,( optional).

The sum insured for the house is based on the Reinstatement Value under this plan. This means that the reconstruction value for the structure is determined by the construction cost. However, the cost of land will not be included. The reconstruction cost is based on the following two parameters which areas under:

  • Built Up area of the house –square feet.
  • Cost of Construction in the locality

The Reconstruction Cost will be Built Up Area of the house * Cost of Construction in the locality.

The sum insured for the contents and its valuables is based on the market value. The market value is arrived at current cost minus an allowance for depreciation in case of loss/ damage. In case of jewellery depreciation is not deducted.

Part II -Cover for Burglary for Contents is not allowed on a standalone basis.

Rates  for Method A (per mile/1000) only for long term cover ( Increase in the base Sum Insured by 10% at the end of every year)                        

Policy Period

3 yrs

4 yrs

5 yrs

Total Fire Section rate ( Part 1a and 1b)

2.04

2.72

3.40

Burglary and Theft Rate

7.20

9.60

12

 

Rates  for Method B (per mile/1000) only for long term discount

Policy Period

1 yr

3 yrs

4 yrs

 5 yrs

Total Fire Section rate ( Part 1a and 1b)

0.68

1.82

2.32

2.78

Burglary and Theft Rate

2.40

6.12

7.68

9.00

 

Eligibility

The eligibility criteria under the plan are as under:

  • Individuals who are residing in flats or independent houses provided that the external walls are of burnt bricks/stone/concrete blocks and RCC/RBC/tiles/ACC roof can apply for the plans.
  • Owners of Home or tenants. However, they can only apply for contents cover for fire and burglary.
  • Multiyear Plan can be availed by house/flat owners only where coverage for building Part  1(a) is compulsory.

Exclusions

  • Loss and damage which arises due to war irrespective of declared or not, assault, aggression, communal or civil riots.
  •  Loss , damage and destruction caused directly or indirectly to the property insured by
    • Emission of energy or infectivity by radioactivity from any nuclear fuel or from any nuclear waste. And also from the radioactive noxious volatile.
      • The plan excludes the loss, damage and destruction caused to the property of the insured due to fumes or by contagion.
      • Loss or damage caused to valued contents like plans, drawings, manuscripts, securities, documents of any kind, stamps, coins, cash/ paper, deeds, ATM and credit cards, bonds, bill of exchange, charge cards, promissory notes or any other books of accounts and explosives.
      • Loss/ damage/ destruction to livestock, motor vehicles and articles of consumable nature.
      • Loss/ damage/ destruction to items like jewellery, curios, antiques, work of art, guns , stamp collection , coins, pictures and medals for an amount above Rs 10000/- until and unless the same has been specifically mentioned in the plan.
      • The plan excludes the loss and damage which is caused to electrical appliances, tools, fixture or fitting which arises out of excess running, more pressure, self more heat, electrical problem.
      • The plan excludes all expenses above 3 % and 1% of the architects, consulting engineer’s fees and surveyor’s fees.
      • The plan also excludes loss by theft through or post the incident of any of the mentioned insured perils other than the three thins which are riot, strike and malicious damage.
      • Loss of income or any other important or indirect loss and damage of any kind.
      • Cooperative societies are not eligible to take long term plans for entire society or building.
      • Under Construction properties are not covered under this plan.

Claims

  • One can call at the toll free number of company to register a claim at the earliest.  The following details are to be furnished:
    • Nature of loss.
    • Location of loss.
    • Amount of loss
    • Policy Number.
  • FIR will be needed for compulsorily for Malicious Damage Riot and Strike Terrorism, Burglary, Theft.  But the same is not needed for flood, storm, lightning, subsidence, earthquake, Impact Damage due to Aircraft Losses.
  • A company appointed Surveyor will contact the insured person within 48 hours of time and the claim form is sent to the correspondence address within 7 working days time. Thereafter the claim will be processed at the earliest.

Standard Fire and Special Perils Insurance Plan.

The main features and benefits of the plan are as follows:

  • The plan covers the loss or damage arising out of Fire and allied perils with an option to cover Terrorism and earthquake under one single plan. The coverage’s under the plan are as follows:
    • Fire
    • Lightening
    • Implosion
    • Explosion
    • Aircraft Damage
    • Riot, strikes and Malicious Damage.
    • Storm, Cyclone.
    • Impact Damage.
    • Typhoon, Tornado, Hurricane, Tempest Flood and Inundation.
    • Subsidence, Landslide and Rockslide as well.
    • Satiated and or abundant of Water Tanks, Apparatus and Pipes.
    • Bush Fire.
    • Rocket experiment functions.
    • Leakage from Automatic Sprinkler Installations.
    • The plan covers for the Structure as well as the Contents of the house.
    • The plan covers for fire, lightning, explosion, flood, inundation, storm, riots, earthquake, terror campaign, strike.
    • The plan tenure is for 15 years.
    • One can avail discount under this plan is 50%.
    • Under this plan, the Sum Insured can be increased by 10% at the end of each year.
    • A perfect and tailor made long term plan for the coverage of the hypothecated properties.
    • One has the flexibility to choose between 2 plans one is for coverage for increased Sum Insured at the end of each year under long term plan and the other is the Fixed Sum Insured under long term discount.
    • One can get instant online policy without any documentation.

Add On Covers under the plan

The following are the Add on Covers:

  • Terrorism ( at additional premium)
  • Earthquake which is inbuilt.

Sum Insured and Premium under the plan.

  • The building is on the Reinstatement basis.
  • Content and other Personal Effects on Replacement Value of insured item.
  • Personal Effects- Market Value which is Replacement Value less depreciation.

Premium depends on the plan tenure, type of plan and add on covers opted for.

Exclusions under the plan

  • Loss and  damage which arises due to war irrespective of declared or not , assault, aggression, communal or civil riots.
  •  Loss , damage and destruction caused directly or indirectly to the property insured by
    • Emission of energy or infectivity by radioactivity from any nuclear fuel or from any nuclear waste. And also from the radioactive noxious volatile.
      • The plan excludes the loss, damage and destruction to stocks in Cold Storage building which is caused by alteration in temperature.
      • Loss/ damage/ destruction to items like bullion, precious stones, curios, work of arts stamp collection s for an amount not less than above Rs 10000/-goods held in trust or commission, plans, drawings, manuscripts, securities, documents of any kind, stamps, coins or paper money, cheques, books of accounts, computer system, explosives until and unless the same has been specifically mentioned in the plan.
      • The plan excludes the loss, damage and destruction caused to the property of the insured due to fumes or by contagion.
      • The plan excludes the loss and damage which is caused to electrical appliances, tools, fixture or fitting which arises out of excess running, more pressure, self more heat, electrical problem.
      • The plan excludes all expenses above 3 % and 1% of the architects, consulting engineer’s fees and surveyor’s fees.
      • The plan also excludes loss by theft through or post the incident of any of the mentioned insured perils other than the three thins which are riot, strike and malicious damage.
      • Loss of income or any other important or indirect loss and damage of any kind.
      • The plan also excludes the loss and damage directly or indirectly due to an earthquake, volcanic upsurge or other tremors of nature.
      • The plan excludes the loss and  damage to the property, if moved to any building and to any other place other than what is mentioned  to be insured, except the machinery and equipment which has been removed on a temporary basis for upkeep, clean-up, reinstatement or like other functions for a period not beyond 60 days.
      • Cooperative societies are not eligible to take long term plans for entire society or building.
      • Under Construction properties are not covered under this plan.

Eligibility

The eligibility criteria under the plan are as under:

  • Individuals who are residing in flats or independent houses provided that the external walls are of burnt bricks/stone/concrete blocks and RCC/RBC/tiles/ACC roof can apply for the plans.
  • The plan can be availed by the flat owners or house owners only.

Claims

  • One can call at the toll free number of company to register a claim at the earliest.  The following details are to be furnished:
    • The nature of loss.
    • The location of loss.
    • The approximate amount of loss
    • The Policy Number.
    • Email at care[at]hdfcergo[dot]com
    • FIR will be needed for compulsorily for Malicious Damage Riot and Strike Terrorism, Burglary, Theft.  But the same is not needed for flood, storm, lightning, subsidence, earthquake, Impact Damage due to Aircraft Losses.
    • A company appointed Surveyor will contact the insured person within 48 hours of time and the claim form is sent to the correspondence address within 7 working days time. Thereafter the claim will be processed at the earliest.
    • Documents required for claim are as under:
      • Claim form.
      • First Information Report (FIR) OR  Charge Sheet -a notarized copy
  • List of items that are lost in the incident along with purchase bill and related receipt (if any).
  • Occupancy Certificate( notarized copy)
  • Fire Brigade Report( notarized copy)
  •  Invoices if the same is available for contents.
  •  Repair Bills in original.

HDFC Ergo Home Insurance - FAQs

1. How to pay premium? What are the modes of payment available?

HDFC ERGO General Insurance offers three modes for payment of premium

  • You can sign a debit mandate at time of signing the policy, thus your premium will be deducted automatically from the bank account
  • By cash or cheque collection and
  • By direct online payment

2. How can I check policy status for HDFC Ergo home insurance?

The right way to check the status of the policy is from the corporate website. Login into your website with user ID and password, and right-click on the policy number and get the details of the status of it.

3. What is the policy renewal process for HDFC Ergo home insurance?

If you have filled an auto debit mandate, the policy will be renewed automatically.

Alternatively, renew the policy online by logging into e-Portal  with valid login details. Pay via debit/credit card or Net banking and print you e-Payment receipt.

4. What is the company’s process to settle claim for HDFC Ergo home insurance?

The company does not usually take more than 3 days for minor theft or accidents. They claim that they will settle all the cases within 7 days. You will have to submit the documents of proof and the claims form to the officer. Upon satisfactory evaluation, the claims amount will be deposited via NEFT in the policyholder’s bank account.

5. What is the policy cancellation process for HDFC Ergo home insurance?

Cancellation of the policy is possible any time. You will have to go to the site and order for cancellation. You can also put up a mail. After a short documentation process, the policy will be cancelled and you will receive an intimation message.

HDFC Ergo Home Insurance Reviews

TOTAL REVIEWS (23)
Lokesh
Kharagpur
July 22, 2016

Security for House

Insurance plan for home is very much important as any other policy. I have hdfc ergo home insurance plan which protect my house and my family too. It covers maximum expenditures done on home while recovery from any damages. The inbuilt health plan is also there for the family according to terms and conditions of the insurance policy.

Damini
Lonavla
July 07, 2016

Home Insurance

Home insurance is very much needed in this risky world. The home insurance of mine is fantastic which covers maximum expenditure. Policy coverage is good claims are high. The burglary, theft, housebreaking causes lost is reimbursed by the company.

Tarun
Guwahati
June 24, 2016

Good Service

The home insurance plan of mine is nice with some good benefits like premium is low. Policy coverage is high and claims are good. The damage from theft, burglary, housebreaking etc are reimbursed by the insurance policy. Service is good and many valuable belonging are secure including with house.

Vishal
Mumbai
June 13, 2016

Perfect Plan

I get home insurance plan from hdfc ergo general insurance. The benefits are many and it reduces lots of tension of theft, burglary and housebreaking. The company reimburse the loss of the policyholder. The premiums are low and the policy coverage is high ~89%. Claiming is really very easy because the service is fast which is facilitate by the executives and the staff members. Daily updates regarding policy is mailed to my email address.

Bhupesh
Pondicherry
June 13, 2016

Superb Policy

I got very nice policy, hdfc ergo home insurance plan. The premium is low and the policy coverage is high. Home insurance plans covers the loss from burglary, fire and natural calamities. The plans cover for jewellery, valuable art work and other valuables too. Executives facilitate good service. Internet service is good, renewal get easy due to this service.

Nirmal
Bhiwani
June 13, 2016

Fantastic Plan

HDFC ERGO home insurance plan I purchase and happy with it service. The premium is low and the policy coverage is high ~90%. Service is fast and on time which provided by the executives and staff of the company. Good future investment which reduces my taxes too. House is save from burglary, theft, housebreaking and the loss is reimburse by the company. Good plan.

Manish
Ooty
June 13, 2016

Quality Investment

I buy hdfc ergo home insurance plan. The policy coverage is good. Simple and hassle free plan enrollment with no documentation required. Complete protection of jewelery and other valuable ornaments against burglary, theft, housebreaking. The premium is low and the claims are high. I really like your service.

Eklavaya
Chandigarh
June 13, 2016

Awesome

I purchase hdfc ergo home insurance policy. The policy coverage is good ~89%. The premiums is low and the claims are high. There are many benefits through this policy. Many items and belongings are insured in the plan. Service is fast which is facilitate by the executives and the staff members. Good job.

Raghav
Faridabad
June 13, 2016

Trustworthy

Finally got a home insurance plan from hdfc ergo general insurance. Policy coverage is good ~90% and the claims are high. Premium of the plan is low which is good point. The service provided by the staff of the company is very fast and on time. Nice policy and fair terms and conditions. I like the policy.

Tarun
Haldwani
June 13, 2016

High Coverage

My home security is with hdfc ergo home insurance plan. The policy is great which have low premiums and the returns are high. The belongings like glass plates, cycle, etc. are insured in the plan. The service you provided is fast and always on time. Good service and behaviour is serve from executives and staff members. Updates are mailed to my email address.

Yogesh
Vellore
June 13, 2016

Power Plan

My house is secure with hdfc ergo home insurance plan. The policy coverage is high and the premium is low. Service is fast which is facilitate by the executives and staff members. Good number of items and belonging included in the policy. Daily updates regarding policy is send to me timely. I like the policy and its terms and conditions.

Umakant
Thane
June 13, 2016

Above Average

The hdfc ergo home insurance plan is not what I expected. The service is slow and the premium is high. Policy coverage is low and claims take much time to sanctioned. Please improve the policy and yes the internet service is okay. Not satisfactory for me. Please improve your policy plan.

Ishant
Panipat
June 13, 2016

Quality Investment

I got hdfc ergo home insurance plan. The policy is very good which has low premium. The policy coverage is high ~88% and the claims are good. Service is fast which facilitate by the executives and staff of the company. Good future investment which reduces my taxes. Updates of the policy is send to me regularly.

Prabhjot
Mangalore
June 13, 2016

Trustable Policy

Recently I buy a house, now I purchase hdfc ergo home insurance plan. My home insurance has many benefits and I took it in very low premium. The policy coverage is high ~85% and the claims are high too. Service provided by you is fast and the behaviour of the staff members is nice. Me and my family members are happy with your services.

Lokesh
Nilgiris
June 13, 2016

Responsive Faculty

I purchase hdfc ergo home insurance plan. The policy coverage is high ~86% and the policy claims are high too. The claiming procedure is very simple because the executives and staff members facilitate the best services and the behaviour is also nice and calm. Good investment and the terms and conditions is the fair.

Karan
Howrah
June 13, 2016

Super Plan

Good home insurance plan provided by hdfc ergo general insurance. The premium is low and claims are good. Claims easily sanctioned due to fast service facilitate by executives and staff members. This plan covers the accidental loss or damage caused due to personal baggage which the insured person or his family member carries while travelling anywhere in India. Good future investment which I like.

Jayant
Moradabad
June 13, 2016

Excellent Policy

I have hdfc ergo home insurance plan which is really good plan. The policy coverage and claims are high and the premium is low. Service is fast and on time. Many more things are secure including the house in this policy. Daily updates are mailed to me. Good service, I like it.

Hemant
Nasik
June 13, 2016

Not Satisfactory

The policy plan I have buy is hdfc ergo home insurance plan. The premium is high but the returns are not so high. Service is bit slow which is facilitate by the staff members. The internet service is not good, Interface is clumpy. Please improve your insurance policy. Not satisfied.

Gaurav
Raipur
June 13, 2016

Really Good Plan

My hdfc ergo home insurance plan is fantastic. The policy coverage is high ~80% and the claims are even better. Service is fast which is facilitate by the executives and staff member. Daily updates are send to me regularly. Good future investment which secure lots of belongings too. I like the policy.

Dinesh
Kalyan
June 13, 2016

Better Plan

The hdfc ergo home insurance plan is the best. The policy is great with good coverage ~89% and the claims are high. The service facilitate by the executives and the staff members is fast. The house insure from many damages and many items and belongings are also secure in the policy plan.

Saurabh
Delhi
June 13, 2016

Average Plan

I purchase hdfc ergo home insurance plan. The policy provide good service which is fast and on time. Good policy coverage approx. 87% and claims are even better. The updates regarding policy is mailed to me regularly. Good future investment. Daily updates regarding policy is mailed to me.

Abhinav
Agra
June 13, 2016

Nice

My hdfc ergo home insurance plan is good. The service is good which provided by the executives and due to this claiming get easy. Policy coverage is high and premium is low. Claims are good, many belongings are insure in this plan with house. Good investment for future it reduces taxes too.

Mudassar
Mumbai
May 13, 2016

Good Service

I purchase hdfc ergo home insurance plan. The policy coverage is high ~90% and the policy claims are high too. The claiming procedure is very simple because the executives and staff members facilitate the best services and the behaviour is also nice. Good investment and the terms and conditions is the best.