Coming in April, a new standard home insurance policy: Should you buy it?
The insurance regulator IRDAI has now mandated a standard cover to protect your house's structure and contents
January 08, 2021 / 09:27 AM IST
Soon, you will be able to buy a standard home insurance cover from any general insurance company, except health insurers, in India. The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines on the standard home insurance policy – Bharat Griha Raksha – that will be available from April 1, 2021. In 2020, the insurance regulator had framed standard clauses for term insurance, health, COVID-19, personal accident, travel and vector-borne diseases covers. A home insurance policy with uniform clauses is the latest in this list. Like in the case of other standardised covers, the premium will be decided by insurers, but clarity is awaited on whether zone and geography-based pricing will be allowed.

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