Householders Insurance Policy

Householders Insurance Policy is a comprehensive package policy that protects householders from a wide gamut of potential risks and perils. It covers almost all your personal belongings and household possessions, including furniture, domestic equipment, electrical appliances, furnishing, food and drink, some valuables and cash up to a certain limit, against loss or damage. Applicants can either choose a comprehensive cover where all the 10 sections will get covered or the specific sections in which they want coverage. Public sector companies require one to take the coverage of a minimum of three sections, of which the first two sections, namely fire coverage and burglary, are mandatory.

In the present times, the householder's insurance policy available in the market features, 'new for old' cover. In such a case, the policyholder gets full cost of replacing an old item with a new one if it is damaged or stolen. However, some items, for example clothing and bedding, are not usually covered on a new for old basis. There are some householder's insurance policies that provide lump sum money in case, the applicant or his/her spouse dies as a result of a fire, theft, or an accident in the home. Household contents insurance policies do not usually cover personal possessions taken out of the home. However, by paying an extra sum, applicants might be able to get cover for such items as well.

Formalities
The householder's insurance policy, being a package policy, requires only one proposal form to be completed instead of separate proposal forms for individual policies, thus doing away with the tedious procedure associated with individual policies. Applicants are required to submit the completed proposal form giving full details of the property to be insured, full value of jewelry and individual values of each item to be given. In case the applicant opts for more number of sections, a discount in the premium is allowed for non-tariff covers. Know more about the contents of householder's insurance policy and how to make the right choice.

Contents Of Householders Insurance Policy
The householder's package policy includes 10 sections. Apart from the below mentioned section, the policy also covers perils, such as floods, cyclone, lightening, explosion, riots, strikes, damage to electrical & electronic equipment due to breakdowns/short circuits and even accidental injury to your family members or even your driver/maid-servant.

Choosing Household Contents Insurance
At the time of getting household insurance, you need to work out how much insurance you actually need/require. Calculate the cost of replacing the cost of all your possessions, in a crisis-situation. Instead of signing the deal with the first insurer, the best bet would be to get quotes from several and then, evaluate the best deal.