Buy home insurance policy that compensates on reinstatement basis

Revise your sum insured periodically so that it keeps pace with inflation

home insurance

Sanjay Kumar Singh

Listen to This Article

On August 29, 2023, the National Consumer Disputes Redressal Commission (NCDRC) upheld prior rulings in the New India Assurance versus Dip Bahadur Chettri case. The case highlights the need for home insurance buyers to select this policy carefully.   

Highlights of the case

Chettri bought a home insurance policy with a sum insured of Rs 10 lakh, valid from July 2005 to July 2020, for his house in Darjeeling. An earthquake in September 2011 damaged the building, rendering it unfit for residence. The sub-assistant engineer of Darjeeling Municipality assessed the damage at Rs 32,12,514. The insured submitted a claim in December 2011.

First Published: Sep 08 2023 | 8:04 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to