That is correct guys. If you have a existing Home Loan from ICICI make sure that it is Insured by calling the customer care. Even I would say the customer care reps do not know much about it. Looks like there is no transparency from ICICI regarding if Home Loan is insured or not. Definitely go for a written confirmation from them if they tell you that yes it is Insured. I have also taken a Home Loan from ICICI way back in 2003 but I do not have any of the Docs that tells me if it is Insured or. I am sure it is not as I do not have any written confirmation on it and thus would be engaging Lombard on it (better to pay a small amount per month to cover your mammoth Home Loan EMIs, at least you are assured that ur family does have a roof and need not to pay when u r not there with them...)
