What is Home Insurance

The shelter is one of the three fundamental necessities of a person’s life. A home has to be protected the way it protects us. For this reason, the Insurance Regulatory and Development Authority of India (IRDAI) has introduced a standard home insurance plan that offers coverage against the perils and risks that your home is exposed to.

In its latest released press on 4th January 2021, the IRDAI has issued guidelines for protecting the house. It has been announced that the Special Fire and Special Perils (SFSP) Policy that was provided earlier under All India Fire and Tariff (AIFT), 2001, will be replaced by the following standard insurance products and the general insurers that have been offering the policies for fire and allied perils insurance will be offering the newly launched insurance products from 1st April 2021. Those products are as follows.