Why Un-Occupied Homes or Home Office is not covered in India?

As a thumb rule, an Un-occupied Home or Home-Office is not covered in India. However, ICICI Lombard General Insurance Home Insurance will cover your un-occupied property up-to 30 days where as Bajaj Allianz will cover it for 4 months. The Logic is simple. According to Risk Under-writing norms, an Un-Occupied home has far greater risk compared to an occupied home.

Insurers believe that when the house is unoccupied for long then the chances of burglary, theft and other Risks multiply. Unoccupied Homes also invite tramps and unauthorized occupants who may leave fire unattended. And in case of fire, when the home or office is unoccupied, it might be for a considerable period of time before the fire is detected and by that time it may get unmanageable.

This non-cover condition for non-occupancy is applicable for fire insurance, shop insurance, Office Package Policy too.

So, if you want to really want to cover your home during your planned vacation over 30 days, you are strongly advised to inform your Broker and Insurance company at-least 10 days in advance about your absence and return date. It is always good to put the travel notice in writing to avoid any lapse. Also get a written confirmation from the company, clearly stating that your property is covered during the un-occupancy period. Don’t worry, your Insurance Broker will do this paper work for you. Another reason, why you should deal with a dependable Broker?

To convince your insurance company about the precautions taken by you, you could state that you have made arrangements such as informing your neighbors to pay a visit to your residence once in a week. Also you could install burglary and fire alarms and communicate the same to your insurer.

If these are some of the steps you have taken, the Insurance Cover Exclusions are relaxed to a large extent. Else you may not benefit from your householders policy when you need it the most. Of Course, if your family member is staying or your permanent care-taker is staying back in your house while you are away, then you are fully covered.

As always, please read the fine prints on Inclusions and exclusions before buying your choice Home Insurance.

Buy Insurance. Stay Safe.

Manish Jaiswal
Bonsai Insurance Broking Pvt. Ltd.

for - www.InsuranceMall.in/Blog