Home Insurance

Home insurance is also known as household insurance, house insurance, homecare insurance or homeowners insurance.
This policy provides comprehensive cover for home structure (dwelling), contents and associated liability risks. This policy basically covers loss or damage to the building structure, contents stored (such as furniture, decoration, antique, jewelry, laptop, clothing, electronic equipment etc.; and extended to cover liability arising out of the property.
Following is the full list of coverage under a home insurance policy;

• Fire & Lightening
• Burglary or Armed Robbery or Break-in
• Rain, Flood, Storm, Cyclone
• Earthquake
• Impact Damage
• Aircraft Damage
• Water Damage
• Malicious Damage
• Natural Disaster
• Explosion
• Riot & Strike Damage
• Accidental Glass Breakage
• Accidental Damage to Underground Tanks
• Third Party Liability

Your house is your most valuable possession that also provides shelter to you and your family. It contains all your belongings, comfort and beautiful memories. It is sensible to make sure risks to your house are manages efficiently.
Home insurance may also be a mandatory requirements for a mortgaged property for loan or while leasing a property. Such requirements are usually imposed by banks or financing companies.
If your house is damaged by a covered event such as fire, storm, rain or earthquake; household or home insurance policy can help pay for the repairs or replacement. But if this policy would not have been in place, you may have to pay out of pocket for repairs or find other resources to help rebuild your home. Imagine worst scenario, where you could lose entire investment with no recovery options. Buying Home insurance is the wisest decision any homeowner or tenant could take.

No, it is actually one of the cheapest insurance policies out there. Premium for household insurance policies start from PKR 2,500. Although the premium depends on the quality of construction, value, content store, area of house, the maintenance of the building and previous history of losses.

Yes, you can buy home insurance as tenant. As tenant you have duty to protect the property of the landlord under your custody, hence the insurance is a necessary protection. However, it depends on the rental agreement.
Nevertheless, it must also be noted that a tenant owns everything other than the building structure and fixtures, hence a significant financial interest exists for owned property such as furniture, personal belongings, electronics, cash, jewelry etc.
A policy with contents and liability (excluding building structure) can also be purchased.

Claims are processed and settled by insurance company once the appointed surveyor has conducted survey of the damaged property and submitted to insurer. During the process, to ensure fair treatment with customers, Comet acts on your behalf and assist in claims process until the settlement is received by our customers (if engaged from Claims Support section on the website). Comet has also made insurance claims process easy and less time consuming for it’s customers. As soon as you become aware of the incident that could be valid claim, take the following immediate action;
Claims Process

• Notify your insurer immediately by means specified on the policy. You can also notify Comet by any of the following ways;
• Call our 24/7 Customer Service Centre on 0334-26638-21
• Chat with our Customer Service Centre
• Register claim on Claims Support section
• Send us an email on customerservice@cometinsure.com
• Our Customer Service Centre assists in completion of claim form and required documents.
• Our representative will accompany insurer’s appointed surveyor to conduct survey.
• We get your claim settled by insurer.

Claim Advice

• Do not discard, move, change condition of the damaged property until inspected by the insurer’s appointed surveyor and advised in writing.
• Do not admit liability in case third party is involved.
• Do not leave the damaged property unattended at any time.
• Take speedy and all reasonable measures to avert or minimize any loss/damage (i.e. act as if the property is uninsured)
• Maintain efficient inventory of items stored during the year and lost in the incident.

• Any consequential loss.
• Damage due to Ionizing radiations or contamination or combustion of nuclear fuel.
• Damage due to radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.
• Any loss or damage or liability, whether directly or indirectly by reason of, or in connection with war, invasion, act of foreign enemy, hostilities or warlike operations (whether war has been declared or not), civil war, rebellion, revolution.
• Any loss destruction or damage directly occasioned by pressure waves caused by aircraft and other aerial devices travelling at sonic or supersonic speeds.
• Refer to the policy document for complete set of exclusions.