Buildings insurance is an insurance policy that covers the financial cost of repairing damage to the physical structure of a property in the event of damage
or theft. This includes the roof, floors and walls, as well as any fitted or permanent fixtures (i.e. a fitted kitchen)
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If you buy a house you should take out buildings insurance when you exchange contracts. If you sell a house you are responsible for looking after it until the sale is completed so you should keep your insurance cover until then.
Buildings insurance isn’t compulsory but it is advisable. Think about how you would afford to rebuild your house if it were damaged or destroyed.
Your lease may say that you should have buildings insurance with a named insurer, or the freeholder may take out insurance and charge you for it.
Your landlord usually takes out the insurance, although you may be responsible for loss or damage to fixtures and fittings. Your household contents insurance may cover this.
Buildings insurance covers the cost of repairing damage to the structure of your property. Contents insurance on the other hand, covers the cost
of replacing your belongings in your home if they are damaged, destroyed or stolen.
Garages, sheds and fences are also covered, as well as the cost of replacing items such as pipes, cables and drains. Buildings insurance usually covers loss or damage caused by: fire, explosion, storms, floods, earthquakes.
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a Building Insurance Plan.
Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: Rs 15,000
Applicant should have the bank specified credit score.
Now apply for a Building Insurance, All you need to do is provide your details below application form.
