Need A Financial Product Forums Insurance Suggest cheap home insurance plan for under construction builder flat

This topic contains 1 reply, has 2 voices, and was last updated by  Parmanand Gupta 2 years, 8 months ago.

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  • #47105

    My home loan for a builder flat has been sanctioned by SBI. The property is under construction. SBI has asked me to get a home insurance as it is mandatory. Since I haven’t got the possession and the entire risk lies with the builder, I don’t want to invest my funds in insurance. Please suggest me something with less cost.

    #47106

    Bhavik Jain
    Member

    Purchase an insurance policy from SBI for construction cost only and not for the land. In any unfortunate case, land will remain intact. The only impact will be on building. Insurance on construction cost will reduce your cost.

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