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Nimit89
02-11-2013, 01:41 PM
I live in a housing society in Mayur Vihar, Delhi and the housing association already has an insurance policy for the society. I don't know the coverage under this policy. Should I go and buy another home insurance for my flat? I have a query - Who will be paying me the claim in case of claim - my insurance or housing association one?

Rahul
26-11-2013, 04:28 PM
Normaly housing society buy insurance for common assets. So for the personal stuff you can buy a separate home insurance policy.

It depends upon the type of the claim if its for common assets than both the insurance company will share the claim, if it's your asset than your insurance company will pay the claim.

Manish_Kumar
30-11-2013, 07:45 PM
Also check this thread - Link (http://www.policywala.com/forum/showthread.php/2289-Two-home-insurance-policies-one-bought-by-society-and-second-one-myself)

gibl
21-08-2014, 05:47 PM
Keep in mind that the best insurance quotes does not always mean the most costly and the other way around. Also recall that the cheapest insurance can have numerous inclusions also. Insurance is not just paramount for the prosperity of your family, but it is also a need in many states.

Green_Life
25-08-2014, 03:00 PM
The policy that your housing association is providing covers your flat from any kind of damage due to any natural calamities or against fire, but it doesn't include coverage for the loss of valuables. A typical home insurance policy not only covers your house from damage but also provides coverage for loss of any valuables that you have kept within the house. A good example of Home Insurance includes coverage against Loss or damage to your building, damage or theft of electrical/electronic appliances, damage or theft of jewellery/ornaments, cameras, laptops etc. Apart from the above always look for a policy that covers Protection against EMI liability so that you don't need to give up your home under any tough situation, and the insurer pays of your EMI liability till the time you cope up with the tough situation

himalayan
01-09-2014, 12:13 PM
The home insurance policy provided by the society is different from the policy plan you take from any insurance company because it covers your assets, luxury things and many more so it is good to buy an individual home insurance policy for your safe future.