The home insurance policy insures the structure of your home for its reconstruction value (and not for market value). Reconstruction value is defined as the cost incurred to reconstruct the home if it is damaged. On the other hand market value is a combination of cost of land, demand & supply scenario, etc

As you want to know about coverage areas of the ICICI Lombard Home Insurance so below I am telling you about this:

The policy covers the losses to the structure and contents of your home due to any natural and man made calamities.

-The calamities covered are:
Fire
Riot, strike & malicious damage
Explosion & implosion
Earthquake
Lightning
Storm, cyclone, tempest, tornado, hurricane, flood & inundation
Damage due to impact by vehicles
Missile testing operation
Subsidence, landslides and rockslides
Leakage from automatic Sprinkler installations
Aircraft damage
Bursting and/or overflowing of water tanks, apparatus and pipes

-Burglary cover (only for contents): The contents of your home are also covered against loss due to burglary or an attempted burglary. It also covers loss of jewellery, silver articles and precious stones kept under lock and key, up to 25% of the total content sum insured or Rs. 1 Lac, whichever is lower.

-Terrorism cover - Covers any damages and losses to the structure and / or contents of your home due to acts of terrorism.

-Additional expenses of rent for alternative accommodation

The maximum coverage is up to Rs. 1,00,000 for up to 6 months. The cover is available only if you are insuring the structure of your home.

Key Benefits
- Comprehensive cover - Covers both structure and contents of your home.
- Avail 15% discount on a 3 years home insurance policy and 25% discount on 5 years policy.
- Optional covers available - Terrorism and Additional expenses of rent for alternative accommodation.
- Alternate Covers - A Home Insurance cover allows you to avail an optional cover for alternative rent & Terrorism cover.