If you search for “Fire Home” or “Home Fire”, Google throws up 8 suggested terms under ‘People also searched for’ – ‘what to do during a fire at home’, ‘where to go in case of fire at home’, ’10 fire safety tips at home’, ‘fire prevention’, ‘fire extinguisher’ ‘house fires’, ‘5 ways to prevent fire at home’ and ‘house fire temperature celsius’!
While some of these terms reflects people’s willingness to take precautionary measures, however that also underlines a societal problem – that none of those 8 terms included people’s willingness to protect the home from natural catastrophic financial impact that these incidences can cause!
Not without reasons, India has one of the lowest home insurance coverages at around 1%, and a single human made disaster or natural disaster can potentially disrupt financial stability!
As recently as January, 2025, a devastating fire incident at a flat in Delhi-NCR led to 4 people of same family loosing life, while the rest two family members survived with severe burns and financial ruins!
“These incidences remind us the fragility of human life; however, it also reminds us enormous toll on surviving members post incident, both emotionally and financially! While it is impossible to fill the emotional void, we have options in hand to survive financially,” said Niharika Singh, Executive Director, Marketing, IFFCO Tokio General Insurance.
Keeping situations, such as earthquake, storm, cyclone typhoon, tempest, hurricane, tornado, tsunami, floods, inundation, lightening, landslide, and act of terrorism, riots, strikes, malicious damage bush fire, forest fire, damage resulting from action of civic authorities, and host of other risk scenario, IFFCO Tokio has launched an insurance policy designed as per guidelines of Insurance Regulatory and Development Authority of India (IRDAI), which comes with de-bundling of fire coverage and insured can choose ‘Basic Fire Cover’, besides opting for other natural and human-made disasters/sections as additional coverage.
This policy also comes with coverage of personal money/ important documents and cards lost under certain circumstances outside insured’s home. While the policy has provision to return the lost money, it also pays for cost incurred in reproducing the lost /damage documents and items like share & stock certificates, deposit receipts, insurance policy, title deeds, manuscripts, passport, driving license, credit card and personal records and certificates.
One of most significant aspect of IFFCO Tokio’s Home Insurance Policy is coverage of damages when you change homes. This feature also includes damages due to fire, lightening, breakage of bridges, overturning of carrying vehicle, derailment or accident and robbery & dacoity.
Loss of jewellery & other valuable items, damages to fine arts, fixed glass and sanitary fittings, breakdown of domestic appliances, portable electronic devices, bicycles, accidental death or disablement of insured and loan payment protection in case of death or disablement, personal liability insurance are some of the standout features of policy.
The policy also takes care of tenant’s liability towards home owner against damages to building, contents given by owners/landlord, electrical installations, over and underground tanks, fixed glass/sanitary fittings and other fixtures, fittings and interior decorations.
As part of its launch bonanza, company is giving flat 10% early bird discount on policy premium to those who buy the policy directly from IFFCO Tokio.
“We hope Comprehensive Home Protector proves to be a helping hand of people in trying times. We have included as many as risks as one can possibly face at home or during shifting of home. Further, we have designed it in such a way that customer is free to choose the risks and pay the premium only for coverage of those risks. Through this policy, we want to make sure that the policy holder buys not just the policy, but the peace of mind,” said Singh.
