Loss of rent for landlords, liability cover for tenants

Home insurance policies being launched nowadays are highly modular. In SBI General's Flexi Home Insurance, for instance, the purchase of only fire cover is mandatory.

- HIMALI PATEL

Home insurance policies being launched nowadays are highly modular. In SBI General's Flexi Home Insurance, for instance, the purchase of only fire cover is mandatory. Customers can thereafter select whatever covers they need. Landlords and tenants need to be aware of the covers that are relevant for them.

Must-have covers for landlordsLandlords must insure the structure of their building. "It should be insured against perils such as fire, earthquake, storm, flood, landslide, riot, terrorism, and so on," says Subramanyam Brahmajosyula, chief product and marketing officer, SBI General Insurance.

Contents insurance is essential if the property is furnished. "The cover could include furniture, appliances, and other items belonging to the landlord," says Ashwini Dubey, head of home insurance, Policybazaar.