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Post Complaint On IndianMoney If You Are Cheated In Home Insurance Research Team | Posted On Tuesday, November 27,2018, 06:44 PM

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Post Complaint On IndianMoney If You Are Cheated In Home Insurance



A House is probably the most expensive investment a person makes in his life. Many people put all their savings in buying or constructing a house or apartment. Once the house is constructed, it is exposed to natural perils and damages. Calamities come unannounced and can cause irreparable damage to your house. A home insurance plan can secure your house against natural calamities like earthquake, floods and storms.

What is home insurance?

A Home insurance policy is a form of property insurance that covers losses or damages to house structure and contents. If you finance your house through a loan, your lender most likely will require you to have home insurance in case of damages caused by unforeseen circumstances like fires or natural disasters.

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Post Complaint On IndianMoney If You Are Cheated In Home Insurance

Exclusions in Home Insurance:

Most of the home insurance policies have certain exclusions. Listed below are the most common exclusions:

  • Loss or damage caused due to wear and tear.
  • Loss of cash (home content insurance).
  • Loss or damage caused by war, invasion, hostile acts of a foreign country.
  • Loss or damage caused by nuclear war.
  • Loss, destruction or damage caused to any electronic equipment due to over-running or excessive pressure.

What are the benefits of availing a home insurance plan?

A home insurance policy comes with benefits that add convenience to your life and finances. Given below are some of the benefits of availing a home insurance plan:

  • Householder’s Package Policy covers both the contents and the structure of your home.
  • The home content insurance secures assets from any damages or natural perils.
  • The insurance policy can be availed at comparatively lower premium rates than other insurance policies.
  • Having home insurance allows people to stay financially prepped in case of unforeseen circumstances.
  • Timely insurance payouts allow families to go through the rebuilding process quickly, helping them to move on and get back to their daily lives.

SEE ALSO:Post your complaint on if you are cheated while buying property

How to file a home insurance claim?

Insurance companies have deadlines within which an individual must inform the company on the loss. You can inform the company either by calling or through SMS or e-mail. You have to lodge an FIR before you file a claim and you need to submit the copy of the FIR to the insurance company. Apart from the copy of the FIR, you will also need to submit other documents. They are:

  • Medical Officer’s Certificate for death or disability
  • Investigation report by police (FIR)
  • Suppliers original invoice for replacement
  • Invoice of owned articles, if any
  • Repair estimates
  • Court summons

These are some basic documents that must be submitted to claim the insurance. The insurance company may ask for additional documents at the time of claim settlement.

How people get cheated in home insurance?

There are ample cases of people reportedly getting cheated in home insurance. There are various insurers in India that offer different plans as per individual needs. Listed below are a few points that you must keep in mind before buying a home insurance policy:

SEE ALSO:IndianMoney Describes How to File Complaints When Your Financial Rights are Infringed

Premium and coverage: Carefully evaluate the different risks that your house may go through in the future. Consider the geographical condition of the area and make sure your home insurance covers these risks. If you buy a policy without checking the kind of risks covered by the policy, then it’s of no use. Consequently, you feel cheated. Also check if the home insurance premium fits your budget.

Claim settlement ratio: A good insurance company is judged by the time it takes to settle claims. The very purpose of insurance will be defeated, if you do not get a claim when required. Do not buy policies from insurers with low claim settlement ratio. Always make sure to check the claim settlement record of insurers before zeroing in on the insurer.

Mis-selling home insurance: Sometimes your insurance agent or bank will try to convince you to buy a home insurance plan. Make sure to read the terms and conditions of the policy and the exclusions thoroughly, before investing. Your bank or agent may not disclose the terms or the exclusions and you might feel cheated later on.

SEE ALSO:Post Complaints On Indianmoney If You Are Cheated In Health Insurance

How you can post complaint on indianmoney if you are cheated in Home Insurance? is a free online consumer complaints portal of, which registers consumer complaints online and helps to resolve it. If you have been cheated by your insurer or if you do not receive any response from them, you can post your complaint on complaints portal Visit the website and fill in the required details and we will help you to resolve the issue with your insurer.

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