I recently bought an apartment. Does it make sense to go for home insurance individually? If the whole building comes down, will the insurance company pay me individually? Or is it only the association that can go in for insuring the entire apartment?

Yes it is sensible to have home insurance which should cover

• • Structure

• Contents – furniture/ clothing/ electrical appliances/ refrigerator/ Air conditioner etc.

Yes – you will be paid for sum insured by you. Your association can go in for the insurance of the structure/ common area, boundary wall, DG set, Lift etc. There can be difference of opinion among members of association as due to value addition/ renovation different flat owners may perceive different value for the flat.