Know Your Home Insurance Clauses When Buying An Apartment

During the process of buying an apartment, you’ll encounter many new aspects like applying for home insurance. If you have absolutely no idea on what home insurance is and what it covers, you need not worry – because only when you buy an apartment will you face all these issues!

What is Home Insurance?

Home insurance is a form of property insurance that provides coverage to all types of houses. A house is an asset, and it is one of the biggest assets that a person can hold. Houses are excellent investment options that people normally buy for being financially secure throughout their lives. When it comes to home insurance, there are two parts that need to be covered overall – the entire building, and the contents within the building.

When you apply for home insurance for your apartment, you can opt for either one among these two. You can either just get insurance cover for the building, or you can get all the interiors covered along with the building as well!

Knowing Your Insurance Can Make Things Easier

Knowing Your Insurance Can Make Things Easier

Insuring The Building

Home insurance for buildings will cover compensations for losses faced due to natural catastrophes like storms, tempests, fires, floods, lightning and landslides. The cover for your apartment in Hyderabad will also cover other unforeseen events like strikes, riots, and damages caused to your apartment due to acts of vandalism or terrorism. Any forms of explosion or implosion will also be compensated for, under this type of home insurance. Sometimes water tanks or other apparatus like pipes can burst due to an increase in water pressure, and these instances will also be compensated for. Damages caused due to earthquakes will also be covered when you get adequate home insurance for your apartment in Hyderabad.

Insuring The Contents

You can opt for a home insurance plan that covers both your building and the contents within the building, when you opt for insurance for your apartment in Hyderabad. The insurance will cover all appliances and electrical and electronic goods within the premises. Furniture, jewelry and clothing items will also be covered, although this may vary with each insurance plan depending on the provider. Such items will be compensated for when you get a similar item without compromising on the features. These household contents will be covered based on some restrictions and conditions – the items need to be inside the premises during the instance of damage.

A List of What Home Insurance Policies Cover

Apart from the building itself, and its extended structures like parapets, balconies, railings, and other sections, the contents within the building that are covered are:

  • Electrical appliances and items like tape recorders, air conditioners, refrigerators, DVD players, washing machines, television sets, and computers.
  • Other household articles that can be found in any apartment like clothing, furniture, carpets, fixtures, and linen.
  • Jewels worn by members of the family when they are within the premises of the house. Your jewelry will be covered by the insurance policy even when worn outside and stolen or snatched.

The amount is settled after deducting the depreciation value of the product from its original rate. Home insurance covers also household items, and houses that are used for business practices will not be covered under this type of insurance.


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This article aims at collating and providing information for benefit of ApnaComplex customers and blog readers. While ApnaComplex has taken every care to ensure the information is accurate, we suggest to please use it only as a guidance for further discussion and action with help of relevant professionals. If you need professional advise on this topic and any other property related matters, please send your request through our contact us form. You may post your questions/inputs in the Comments section below and we will try and get them answered through relevant subject matter experts.

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