New Home Insurance

[rohit]

1. Package Policies are generally have various sections to cover Building, Content and other covers like PA, Loan Repayment Cover etc. So its good when you are taking insurance for home where you are living with family.
   
   
2. Fire and Other Peril Policy cover - Fire and Earth quake => The Second one is cheaper option.

[Madhura]

If you are going to live yourself in the new house than take - Home Package Insurance Policy
If you are going to give it for rent than go for - Fire Insurance of Building and fixtures.