LIC Homeshield Insurance

What is LIC Homeshield Insurance?

The package is designed to protect the owners of buildings occupied purely as residence and its contents alone (if the owner is a tenant only) against financial loss and damges.

What are the properties that can be covered under LIC Homeshield Insurance?

  • Residential Buildingconstructed entirely of concrete (Class A) and those of other types of construction except light materials and located in subdivisions and villages all over the country and other residential areas with predominance of Class A buildings.
  • Contentscomprising of household appliances, furniture, fixtures and fittings and personal effects (except cash and jewelries).

What are the coverages under LIC Homeshield Insurance?

  • Fire/Lightning
  • Earthquake Fire/Shock
  • Typhoon
  • Flood
  • Extended Coverage (Smoke, Vehicle Impact, Falling Aircraft Explosion)
  • Riot, Strike and Malicious Damage
  • Broad Water Damage
  • Accidental Bursting and/or Overflowing of Water Tanks, Pipes and Apparatus
  • Robbery and Burglary (Subject to declaration of covered items. Limit: 10% of contents sum insured, maximum of PhP 200,000)

What are the other Additional and Free Benefits of LIC Homeshield Insurance?

  • Rental Income

Pays for the loss of rental income resulting from a covered loss making the building untenantable. Payable to the owner renting out its building.

Limit: Up to three (3) months rental income, subject to a maximum of 5% of the building’s sum insured whichever is lower.

  • Rental Expense

Pays rental expenses for temporary lodging of the insured if the building becomes uninhabitable in view of an insured peril. Payable to the owner of the insured building.

Limit: Up to three (3) months rental expenses, subject to a maximum of PhP 10,000 per month whichever is lower.

  • Removal of Debris

Pays the actual cost incurred by the insured in the cleaning of the debris after a loss. Applicable only to owners of building.

Limit: Up to 5% of the building’s sum insured, subject to a maximum of Php 100,000 whichever is lower.

  • Professional Expense

Pays the actual cost incurred by the insured for professional fees in connection with his/her claim.

Limit: Up to 5% of the building’s sum insured, subject to a maximum of Php 100,000 whichever is lower.

  • Fire Fighting Expense

Pays the actual cost incurred by the insured in extinguishing fire.

Limit: Maximum of Php 25,000

  • Personal Accidental Insurance

Pays the insured or his/her beneficiaries for injuries/death caused by accidental, violent, external and visible means independently of any other causes.

Limit: 10% of the total sum insured, maximum of PhP 100,000 for named insured ages eighteen (18) to sixty-five (65) only.

Note: You can extend the Personal Accident Insurance to your Household Employee/s buy securing and availing of our Kasambahay Insurance.

  • Comprehensive General Liability Insurance

Provides indemnity against legal liability of the insured in respect of death or bodily injury and property damage to third parties.

Limit: Maximum of PhP 10,000 Combined Single Limit and Annual Aggregate.

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