Home insurance in India protects the structure of your house or flat and its contents against fire, natural disasters, theft and similar risks. The Insurance Regulatory and Development Authority of India (IRDAI) introduced a standard home policy, Bharat Griha Raksha, from 1 April 2021, which general insurers offer alongside their own products. Premiums are usually modest compared with the value at risk, which makes cover worth considering for owners, landlords and tenants.
Key takeaways
- Home insurance can cover the building, the contents, or both.
- Bharat Griha Raksha is IRDAI’s standard home policy, with built-in contents cover and no proportional cut for underinsurance.
- Insure the building for its rebuilding cost, not its market price.
- Read the exclusions and keep an inventory with photos and bills.
What home insurance covers
| Cover | What it includes | Who needs it |
|---|---|---|
| Building (structure) | Walls, roof, floors, permanent fixtures and fittings | Owners of houses and villas; apartment owners subject to association cover |
| Contents | Furniture, appliances, electronics, clothing | Owners and tenants |
| Valuables (add-on) | Jewellery, art, curios, declared separately | Anyone keeping valuables at home |
| Alternative accommodation | Rent for a temporary home while yours is repaired after an insured event | Owners who live in the home |
| Personal accident (add-on) | Death cover for the insured and spouse due to insured perils at home | Families wanting a small extra layer |
Bharat Griha Raksha: the standard policy
IRDAI required general insurers to offer Bharat Griha Raksha from 1 April 2021, replacing the old standard fire policy for homes. Its key features, according to the standard wording and insurers’ summaries, are:
- Perils covered: fire, natural catastrophes such as earthquake, flood, storm and cyclone, landslide, riots, terrorism, impact damage, bursting of water tanks and pipes, and theft within seven days of an insured event.
- Automatic contents cover: 20% of the building sum insured, up to ₹10 lakh, without a detailed list.
- No underinsurance penalty: claims are not cut proportionally if the sum insured is lower than the true value, though you are only paid up to the sum insured.
- Rent for alternative accommodation if the home becomes uninhabitable after an insured event.
Insurers can offer their own home products too, with different features. Compare the policy wording, not just the brochure.
Common exclusions
- Deliberate damage and damage from gradual wear, rust or poor maintenance.
- War and nuclear risks.
- Valuables such as jewellery, unless specifically added.
- Electrical or mechanical breakdown of appliances, unless covered by an add-on.
- Losses where the home was left unoccupied beyond the period the policy allows.
How much cover to buy
For the building, the right figure is the cost of rebuilding it today, not what it would sell for. In a city like Coimbatore, much of a property’s market price can be the land, which does not need insurance. Estimate the rebuilding cost from the built-up area and current construction rates; our guide to house construction costs in Coimbatore explains the drivers. For contents, list major items and their replacement values.
Home insurance for flats, villas and rented homes
Apartments
Many associations insure the building’s structure and common areas. Ask for a copy of that policy, then insure your own contents and interiors.
Independent houses and villas
You are responsible for the full structure, compound wall and fixtures. Building plus contents cover is sensible. Browse villas and independent houses if you are still choosing.
Rented homes
Landlords insure the building. Tenants can insure their own contents. If you let out a home, read our guide on rental agreements in Tamil Nadu for how repairs are shared.
Making a claim
- Inform the insurer immediately and, for theft or riot, the police.
- Take photos and videos of the damage before cleaning up, and prevent further loss.
- Submit the claim form, policy copy, FIR where applicable, bills and repair estimates.
- Cooperate with the surveyor’s inspection.
- If unhappy with the outcome, complain to the insurer’s grievance officer, then use IRDAI’s Bima Bharosa portal or the Insurance Ombudsman.
Practical tips for Coimbatore homeowners
- Review the sum insured every year or two, since construction costs change.
- Keep a digital inventory of contents with photos and bills, stored away from the house.
- If your home loan lender offers bundled insurance, compare it with standalone quotes before accepting.
- Tell the insurer about solar panels, lifts or major renovations so they are properly covered.
Frequently asked questions
Is home insurance compulsory in India?
No law requires an owner to insure a home. Lenders usually require the property to be insured while a home loan is outstanding, and apartment associations may insure the building structure.
Does home insurance cover earthquakes and floods?
Standard home policies such as Bharat Griha Raksha cover natural catastrophes including earthquake, flood, storm and cyclone. Check the policy wording for any deductibles.
Can a tenant buy home insurance?
Yes. A tenant can insure their own contents, such as furniture, appliances and valuables. The building structure is the owner’s to insure.
What should I do if my claim is rejected?
First complain to the insurer’s grievance officer. If unresolved, use IRDAI’s Bima Bharosa portal, and you may approach the Insurance Ombudsman within the allowed time.
This article is general information as of September 2026, not legal, tax or financial advice. Rules and rates change; confirm with a qualified advocate, chartered accountant or the relevant department before you act.
References
- IRDAI: Insurance Regulatory and Development Authority of India
- IRDAI Bima Bharosa grievance portal
- Council for Insurance Ombudsmen
- Outlook Money: Bharat Griha Raksha standard home policy
Buying or letting a home in Coimbatore?
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