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Dec 05, 2018

Can You Insure One House with Multiple Insurance Policies?

Bajaj Allianz Home Insurance

In India, it is possible to have more than one home insurance policies to insure your most valuable asset. However, people in India are reluctant to buy even a single home insurance policy, despite being aware about the high risks associated with the loss/damage done to property and its contents.

A home insurance policy is of types:

  • A home insurance policy that covers only the structure of the house
  • A home insurance policy that covers the structure as well as the contents present in the house

While there are numerous options to choose from, it is up to you to decide which type of policy will best suit your requirements. A home insurance policy covers the risks of loss/damage done to your home and/or its contents due to any unfortunate event.

Today, the cost of buying and designing your home is very high. Also the expenses related to rebuild or remodel your home after the damage are exorbitant. Thus, having a home insurance policy is of utmost importance. Your home insurance policy can take care of your finances in the following scenarios:

  • Loss/Damage done to your home due to natural disasters such as earthquakes, floods, fire etc.
  • Loss/damage done to your home due to incidents such as theft, burglary and any other accidental damage
  • Loss/damage to content
  • Loss/damage to portable equipment
  • Loss/damage to valuable items such as jewellery and paintings

Having multiple home insurance policies does not guarantee that the exclusions of one policy will be covered by the other policy. Nearly all the home insurance providers in India offer the same inclusions and exclusions, thus it is better to have at least one insurance policy that can be useful in case of any financial setback resulting due to loss/damage done to your home and/or contents.

Unlike health insurance, where cashless claim settlement is an option, a home insurance claim settlementhas to be done via reimbursement process. So, when filing a claim against more than one home insurance company, you need to follow up very closely and monitor which insurance company is settling the claim for which item.

There is also a possibility that if you file the same claim against multiple insurance companies, then one of the insurance company might press fraud charges on you and you might get arrested.

To enhance the coverage of your existing home insurance plan, you can opt for appropriate add-on coverssuch as lost wallet cover, dog insurance cover, temporary resettlement cover, loss of rent cover and more.

While you have the option of purchasing multiple home insurance policies, we recommend that you get at least one policy and protect your finances in case of any unfortunate events.

We at Bajaj Allianz offer My Home Insurance Policy, which can safeguard you from any financial setbacks covering your home and its contents against unforeseen incidents. You can check out the features, benefits and the coverages offered by this policy on our website.



I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

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