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Yes, you can insure your home’s appliances under a home insurance policy. Widely used appliances like air conditioners, refrigerator, televisions, dish washer, OTG, geyser, and more can be insured.
Even lesser used home appliances like chimneys, printers, fax machine, etc can be covered under a home insurance policy.
An appliance insurance coverage is usually bought along with a comprehensive home insurance policy. There are also some insurance providers that provide stand-alone appliance insurance policies as well. We will talk about both such companies below.
Your home is your sanctum, and any expense incurred in the safety and security of your home could be considered as money well spent. Here are the most important benefits of appliance insurance:
Mentioned within are some of the general inclusions and exclusions of appliance insurance. The specific exclusions and inclusions will be different from company to company.
Further, an insurance company provides different levels of coverage based on the kind of appliance insurance plan you opt for. The higher the premium you pay, the higher is the coverage.
General inclusions and exclusions include:
Electrical & mechanical break down
Royal Sundaram Home Insurance (Bronze, Silver & Gold Plans)
Kitchen appliances insurance plan
GadgetServ Plan (OneAssist)
Reliance General Insurance
Frequently asked questions
Yes. Mentioned below are some of the stand-alone appliance insurance plans in India:
The premium rate is primarily decided on the location of the property, the valuation of the appliances, and the income of the policyholder.
It could be a good idea to get appliance insurance if the valuation of your appliances is rather large. It could also be a good idea to buy appliance insurance if you live in a place with questionable security.