IDFC FIRST Bank Home Insurance Solutions

Protect your home because there’s no place like it.

Home Insurance Solutions
Cover against Natural and Man-made Calamities
Structure Cover – Reinstatement Value
Content Cover – Market Value

ICICI Lombard Home Insurance

  • You can choose to buy insurance for only the building (structure) of your home, or only the contents (belongings) or both.
  • The policy covers the losses to the structure and/or contents of your home due to specified natural and man-made calamities.
  • The following fire and special perils are covered:
  • Fire
  • Lightning
  • Impact Damage
  • Aircraft damage
  • Explosion / implosion
  • Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
  • Riot, Strike, Malicious Damage
  • Subsidence and Landslide including Rockslide
  • Bursting and/or overflowing of water tanks, apparatus and pipes
  • Missile testing operations
  • Leakage from automatic sprinkler installations
  • Bush Fire
  •  Earthquake Cover
    • Under the earthquake cover, the policy covers loss or damage (including loss or damage by fire) to any of the property Insured by this policy occasioned by earthquake including Landslide / Rockslide resulting therefrom but excluding flood or overflow of the sea, lakes, reservoirs and rivers caused by Earthquake. Sum Insured for this cover is identical to the Sum Insured against the risk covered under main policy except for the value of the plinth and foundations of the building(s)
  •  Terrorism Cover
    • Under the terrorism cover, the policy covers loss or damage to any of the property Insured by this policy caused by resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss.
  • Optional covers
    • Additional expenses of rent for alternative accommodation

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Frequently Asked Questions

How can you renew your home insurance policy?

You can renew your policy by visiting the nearest branch. Alternatively, you can also visit and renew your home insurance policy instantly.

What are the losses/ perils covered under this policy?

Home insurance covers natural and man-made calamities.

  • Fire
  • Lightening
  • Explosion/Implosion
  • Aircraft Damage
  • Impact Damage
  • Riot, Strike, Malicious and Terrorism Damage
  • Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
  • Subsidence and Landslide including Rockslide
  • Bursting and/or overflowing of water tanks, apparatus and pipes
  • Missile Testing Operations
  • Leakage from Automatic Sprinkler Installation
  • Bush Fire
  • Earthquake


Man-made calamities

  • Burglary and Theft
  • Cover for Terrorism
  • Optional Cover for "Additional rent for Alternate Accommodation"


What is the procedure for assessing the value of my home structure and its contents?

The value of your home structure is 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.

I live on rent, why would I require insurance?

We have an option to cover your Contents. Our comprehensive Home Insurance policy covers your.

• Household appliances
• Jewellery
• Furniture & fixtures
• Personal items at your home against fire and allied perils


I live in a building insured by my society. Would I need to take additional Insurance?

The insurance that your society provides may offer you a limited cover and generally includes only structure and not contents. You should buy home content insurance cover for your belongings if building structure of your house is insured by the society.

Is my home insured if my wife uses a part of it (room) for conducting coaching classes?

No. Home used for business purposes are not covered.

What are the exclusions of this policy?

The company is not liable to make payment for:

  • Any loss or damage by the insured and/ or insured’s domestic staff direct or indirect involvement in an attempted burglary.
  • Any loss or damage on account of loss of livestock, motor vehicles, pedal cycles, money, securities for money, stamp, bullion, deeds, bonds, bills of exchange, promissory notes, stock or share certificates, business books, manuscripts, documents of any kinds, ATM debit or credit cards, unless previously specifically declared by the company.
  • Any loss or damage to any property that is illegally acquired, kept, stored which is subject to forfeiture.
  • Any loss or damage occurring while insured’s home is unoccupied, for a period of more than 30 days consecutively and if the insured failed to inform the company about the same.


What if I sell the property during the insured period?

You can cancel the policy and get the premium back.

If three people share an apartment can each one take a separate home insurance policy?

Yes, for their part of the asset.

What are the exceptions against cover within the purview of the Householder's Insurance Policy?

Under Section 1 (B) the Householder's Insurance policy, any loss or damage suffered to the following is treated as an exception and cannot be claimed.

• Consumable articles
• Money/ Securities/ Stamps/ Stamp collection
• Bullion and Livestock
• Motor vehicles and Pedal cycle
• Deeds/ Bonds/ Bills of exchange/ promissory notes/ Shares
• Books/ Manuscripts
• Loose precious stones, Jewellery and valuables

How do we get the valuation done of our property?

The contents are covered on market value i.e. the cost of buying a similar new item after deducting appropriate depreciation on the basis of the age of the item. This includes household appliances, furniture, jewellery, personal effects and miscellaneous items.

On what basis are the structure and contents insured?

The structure of your home is insured as per the re-instatement value and the contents are insured as per the market value.

How do you differentiate between riots and terrorism cover in case of Home policy?

• Riot refers to the violent disturbance of the public peace by three or more persons assembled for a common purpose.
• Terrorism/ Terrorist activity means use of force or violence harming human life or property, with the objective of pursuing personal or vested interests

What are the documents required for filing a claim?

The following are the basic documents required for filing a claim: 

o    Duly filled and completed Claim form

o    Policy Copy

o    Final bills of repairers

o    Fire Brigade report, FIR, Investigation report of police, if required

o    Any other documents requested by surveyor or claims manager

Why a list of items is not required?

Insurance works on good faith. We as an insurance company trust our customers. Therefore, the specific and detailed listing of your contents is not always necessary when you buy home insurance from us. However, preserving the bills helps in faster claims settlement. In the absence of bills, alternate evidence will be taken into consideration.

If losses are incurred due to an incident like the garden catching fire and spreading to the premises, will it be covered?

Yes, the spread of fire to the insured premises is covered but the fire should not be a deliberate action of the insured.