Apartment / House Insurance in India - NRI

mere999 · Oct 7th, 2007, 07:47

Hi

We are planning to relocate to India.

Right now we have 2 apts one is being rented out and the other has personal contents as we are slowly planning to relocate to India.

Both the apartments are in the same building.

Would appreciate if anyone could please give us a name of a good insurance company.

1.Does one have to itemized the contents?

2.Also does the apartment insurance cover any water damage, theft, fire and do they cover the liability of the other apartments like they have in N. America?

3. Do they give coverage for owners living overseas.

I saw a suggestion of online purchase of icici insurance has anyone taken it - any suggestions would be appreciated.

Kind regards

capt_mahajan · Oct 7th, 2007, 09:20

I would go with the old public sector insurance companies.. National Insurance, New India Insurance, United India and Oriental.

Somehow I don't trust the private insurance companies too much.. they seem to be keen to sell, but their representatives don't know much. I also suspect their procedures in the event of a claim will be less than acceptable.

Your qs

1. Itemised is good for high value stuff, electronics etc
2. They do cover water, theft and fire, plus others. Liability of other apartments, unsure what you mean, but I dont think so.
3. I think they will cover owners living overseas, but not sure

One of the websites, what you want is a Fire Policy (if the apartment belongs to you) and a Householder's Insurance policy.. they are easily combined.
http://www.niacl.com/faq-property.asp

mere999 · Oct 12th, 2007, 21:34

Thank very much for your suggestion, yes i never thought about it that way.
kind regards

mere999 · Oct 17th, 2007, 22:20

Hi
I read somewhere that
icici lombard has home / apt insurance and have their offices overseas anyone taken insurance throught them.
please let me know
kind regards

capt_mahajan · Oct 17th, 2007, 23:15

icicilombard wouldnt be my first choice (as indicated in the earlier post) but they are a very well known private insurance company.

I have bought short term overseas medical insurance from them.

mere999 · Oct 18th, 2007, 20:26

thankyou Captain Mahajan for your prompt reply appreciate it
kind regards

capt_mahajan · Oct 18th, 2007, 20:33

To clarify, I have bought medical insurance from ICICIPrudential. In terms of service and reliability there will be no difference between that and ICICILombard, they are just tie ups.

Prudential and Lombard are foreign entities ICICI has tied up with for insurance products and unit linked insurance plans in India.

ICICI itself is into banking and other financial products. Very well known, may well be the largest private insurer in India.

mere999 · Oct 18th, 2007, 20:46

Thank you Capt Mahajan
Yes they have offices here in N. America so it is a bit conviennient. Becos when i am in India i dont seem to have the time.
thank you again
kind regard

Oct 7th, 2007, 07:47	#1
mere999 Member Join Date: Jun 2007 Location: Canada Posts: 63	Apartment / House Insurance in India - NRI Hi We are planning to relocate to India. Right now we have 2 apts one is being rented out and the other has personal contents as we are slowly planning to relocate to India. Both the apartments are in the same building. Would appreciate if anyone could please give us a name of a good insurance company. 1.Does one have to itemized the contents? 2.Also does the apartment insurance cover any water damage, theft, fire and do they cover the liability of the other apartments like they have in N. America? 3. Do they give coverage for owners living overseas. I saw a suggestion of online purchase of icici insurance has anyone taken it - any suggestions would be appreciated. Kind regards

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Oct 7th, 2007, 09:20	#2
capt_mahajan (in charge of navel affairs) Join Date: Sep 2005 Location: India Posts: 10,113	I would go with the old public sector insurance companies.. National Insurance, New India Insurance, United India and Oriental. Somehow I don't trust the private insurance companies too much.. they seem to be keen to sell, but their representatives don't know much. I also suspect their procedures in the event of a claim will be less than acceptable. Your qs 1. Itemised is good for high value stuff, electronics etc 2. They do cover water, theft and fire, plus others. Liability of other apartments, unsure what you mean, but I dont think so. 3. I think they will cover owners living overseas, but not sure One of the websites, what you want is a Fire Policy (if the apartment belongs to you) and a Householder's Insurance policy.. they are easily combined. http://www.niacl.com/faq-property.asp

Oct 12th, 2007, 21:34	#3
mere999 Member Join Date: Jun 2007 Location: Canada Posts: 63	Thank very much for your suggestion, yes i never thought about it that way. kind regards

Oct 17th, 2007, 22:20	#4
mere999 Member Join Date: Jun 2007 Location: Canada Posts: 63	Hi I read somewhere that icici lombard has home / apt insurance and have their offices overseas anyone taken insurance throught them. please let me know kind regards

Oct 17th, 2007, 23:15	#5
capt_mahajan (in charge of navel affairs) Join Date: Sep 2005 Location: India Posts: 10,113	icicilombard wouldnt be my first choice (as indicated in the earlier post) but they are a very well known private insurance company. I have bought short term overseas medical insurance from them.

Oct 18th, 2007, 20:26	#6
mere999 Member Join Date: Jun 2007 Location: Canada Posts: 63	thankyou Captain Mahajan for your prompt reply appreciate it kind regards

Oct 18th, 2007, 20:33	#7
capt_mahajan (in charge of navel affairs) Join Date: Sep 2005 Location: India Posts: 10,113	To clarify, I have bought medical insurance from ICICIPrudential. In terms of service and reliability there will be no difference between that and ICICILombard, they are just tie ups. Prudential and Lombard are foreign entities ICICI has tied up with for insurance products and unit linked insurance plans in India. ICICI itself is into banking and other financial products. Very well known, may well be the largest private insurer in India.

Oct 18th, 2007, 20:46	#8
mere999 Member Join Date: Jun 2007 Location: Canada Posts: 63	Thank you Capt Mahajan Yes they have offices here in N. America so it is a bit conviennient. Becos when i am in India i dont seem to have the time. thank you again kind regard

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