Long Term Home Insurance

Protect it with SBI General's Long Term Home Insurance Policy. You spend your lifetime in dreaming about a home of your own. You take the help of financial institutions to fulfil your dream. Along with the pleasure of fulfilling your dream come the liability and the responsibility of paying for the same over the next few years. At SBI General, we make things easy for you to protect your dream home. With SBI General's Long Term Home Insurance Policy, you can truly enjoy the home you have just acquired

Key Feature

  • You can buy the Policy upto a period of 30years
  • In-built coverage for earthquake


  • SBI General's Long term Home Insurance Policy is designed for covering loss or damage caused to the building used as residential homes due to fire and special perils. Covers destruction of or loss/ damage to the insured property by any of the following perils :
  • Fire
  • Lightning
  • Explosion / Implosion (excluding boilers , economizers, pressure vessels)
  • Aircraft Damage
  • Riot, Strike and Malicious Damage
  • Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
  • Impact Damage
  • Subsidence and Landslide including Rockslide
  • Bursting and/ or Overflowing of water tanks, apparatus and pipes
  • Missile Testing Operations
  • Leakage from Automatic Sprinkler Installations
  • Bush Fire
  • Earthquake (Fire and Shock)
  • Further, on payment of additional premium, Terrorism Cover can be opted.
  • Disclaimer: The above information is only indicative in nature. For details of the complete coverage please contact our nearest office and refer to the policy document.
  • Duration - The recommended Plan option is a minimum of 3 years as it will optimally protect your dream home against any eventualities. The maximum duration one can take is 30 years.
  • The rate of premium shall depend upon the Location and Period of Insurance Policy.


  • We would like you to be familiar with some of the major exclusions under the Policy. This will ensure you are not put to any kind of inconvenience while making your claim. At SBI General, we endeavour to make our Policy as transparent as possible
  • Major exclusions under the Policy are in respect of loss or damage due to:
  • Willful acts or gross negligence
  • Destruction/Damage by own fermentation, natural heating or spontaneous combustion
  • Explosion/Implosion damage to boilers, damage caused by centrifugal forces
  • Forest fire
  • War and nuclear group of perils
  • Unspecified precious stones, cheques, currency, documents, etc. unless specifically declared
  • Consequential losses
  • Theft during/after operation of peril
  • Pollution and contamination
  • Volcanic eruption or other convulsions of nature
  • Burning of Property by Public Authority
  • Electrical and Mechanical Breakdown


  • Q. What happens to the Home insurance policy if the insured house is sold?

    A. From the time the transfer of ownership becomes effective, the policy stands cancelled and the insured ceases to be an insured under the policy. We will then refund the premium for the balance of the insured period.

  • Q. Can I cancel the policy during the period of insurance?

    A. Yes, however refund of premium shall be on long term policy cancellation rules. Please go through the policy terms & conditions for complete details.

  • Q. What is not covered under this policy?

    A. General exclusions are willful acts & negligence, Own fermentation, natural heating, spontaneous combustion, forest fire, war & nuclear group of perils, consequential losses, theft, pollution & contamination.

  • Q. Can I increase or reduce the Sum Insured after inception of the policy?

    A. Mid- term increase/ decrease in Sum Insured shall be allowed on pro- rata basis for the balance period.

  • Q. If I have a home insurance policy with two different companies will I be benefited by both?

    A. If you have a policy with two insurance companies, at the time of claim both the insurance companies will pay on proportionate basis.

Product Code - SBG-OT-P13-48-V01-12-13   Disclaimer: The above information is indicative in nature, for more details on complete coverage and terms and conditions, please contact our nearest office and also read the policy document and sales brochure carefully before concluding a sale.