What home and travel insurance cover
Home insurance and travel insurance protect very different things, but both deal with sudden, expensive events that most families never budget for. A home policy pays to repair or rebuild your house and replace belongings damaged by fire, floods, storms, earthquakes and similar perils. A travel policy pays for medical emergencies and disruptions while you are away, in India or overseas.
Both are general insurance products regulated by IRDAI, and features, sub-limits and exclusions vary from one insurer's policy to another.
How home insurance works in India
IRDAI introduced a standard home policy, Bharat Griha Raksha, so buyers have a common baseline to compare against. Insurers also sell their own packages with wider add-ons. A few points matter more than the brand name:
- Structure vs contents. The building is insured for its reconstruction cost. Contents are insured separately, and high-value items such as jewellery need to be listed.
- Owner or tenant. Owners can cover both; tenants usually cover contents only.
- Policy period. Many insurers allow multi-year home policies, which spares you a renewal every year.
Illustrative: a 1,200 sq ft flat in Indore may sell for far more than it would cost to rebuild, because the price includes land. Insuring the market price means paying for cover you can never claim.
How travel insurance works
Hospital bills overseas can be many times what the same treatment costs in India, and a single admission can wipe out savings. Travel plans come in a few shapes:
| Plan type | Suits |
|---|---|
| Single trip | Holidays and family visits |
| Annual multi-trip | Frequent business travellers |
| Student | Long courses abroad, often with study-interruption benefits |
| Domestic | Longer trips within India |
Senior citizens can usually buy cover too, though age bands affect the premium and some benefits.
Things to compare before you choose
- Sum insured and sub-limits. For travel, match the medical limit to the cost of care at your destination. For home, check the limits on jewellery, electronics and cash.
- Deductibles. A small excess on every claim lowers the premium but adds to your share of each loss.
- Exclusions. Adventure sports, pre-existing illness, a house left unoccupied for long periods, wear and tear.
- Claim route. For travel, the assistance partner's reach where you are going; for home, the survey and documentation process.
- Add-ons. Burglary, accidental damage to electronics, rent for alternative accommodation, trip curtailment.
Our team compares these across insurers so you can see what each policy actually pays, not just what it costs.
