Home Insurance

Home insurance provides a comprehensive protection  to cover all the house hold products and house property against damages . This also gives an individual a liability coverage against accidents at home or on the property.
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Fire and Allied Perils

In this Section your residential building as well as various types of contents are covered against fire, explosion, bursting/overflowing of water tanks, riots, strikes, malicious damage, earthquake, flood, cyclone, landslide etc.

Exclusions:
  • Livestock or pets or any other living creature.
  • Stamps, bullions, or unset precious stones.
  • Money, securities, bills of exchange, promissory notes, stocks and share certificates etc.
  • Electrical/electronic equipment, machines, by overrunning, excessive pressure, short-circuiting, self-heating etc.                                   

Burglary and other Perils

This Section covers the same properties as in Fire and Allied Perils Section against housebreaking, burglary, robbery or dacoity and also impact damage by falling trees/electric poles/lampposts, breakage or collapse of television or radio aerials /satellite dishes and damage by civic authorities in prevention of fire.

Exclusions:
  • Damage to the property caused by theft and/or larceny without use of force/ violence or theft attempted by policy holder or his directors, Partners or employees whether as principal or accessory.
  • Damage caused whilst the premises remains Unoccupied for more than 60 days in continuation.   
  • Damage caused as a result of felling or lopping of trees by policy holder or on his behalf etc.
  • Damage to the satellite dish or aerial itself etc.                                                                                        
                                                                                                                                                                                                                 

All Risk

This Section covers valuable items such as jewellery, items of gold, silver and other precious metals or stones, watches, clocks, photographic equipment's, video cameras, telescopes, microscopes, cameras, musical instruments, sporting equipment's including guns against accident or misfortune anywhere in India.

Fixed Glass and Sanitary Fittings

This Section covers accidental breakage of fixed glass and sanitary fittings in your premises including cost of frames, painting etc. and also accidental damage to goods of your home caused by such breakage

Exclusion:
  • Breakage or damage during removal, alteration and repairs in or around the Premises.
  • Disfiguration or scratching or damage of Glass or Sanitary Fittings.
  • Consequential loss due to breakage of glass .
  • Breakage of Glass or Sanitary Fittings which are not completely and securely fixed.

Electronic Equipment

This Section covers loss or damage to electronic equipment's like computers, fax machines, accessories etc. including data carrying material which are installed in your home.

Exclusion:
  • Damage due to faults/defects existing at the commencement of this insurance.
  • Any cost required for alteration or improvement.
  • Damage to consumable items.
  • Damage for which the manufacturer or supplier is responsible either by law or under contract.
  • Any cost arising from false programming, punching, labeling or inserting, inadvertent cancelling of information or discarding of data and from loss of information caused by magnetic fields etc.

Home Entertainment Equipment, Portable Computer/Mobile Phones and Pedal Cycle

This Section cover loss or damage to television/video equipment installed in your home, portable computer, mobile phone and electronic diary including data carrying material by accident or misfortune anywhere in the world. 

This Section also covers your pedal cycle against accident or misfortune including third party legal liability for accidental injury, death or property damage caused by the pedal cycle.

Exclusion:
  • Mysterious or unexplained disappearance of insured items.
  • Theft not reported to Police within 24 hrs of discovery thereof and a written Report obtained.
  • Damage due to overloading, strain, mechanical breakdown or wear and tear.
  • Damage caused by or arising from the leakage, spilling or exploding of liquid oils or materials of a like nature or articles of a dangerous or damaging nature

Breakdown of Electrical/Mechanical Appliances

This Section covers sudden and unforeseen electrical or mechanical breakdown of electrical or mechanical appliances installed in your home such as air conditioners, refrigerators, washing machines upto 7 years of age.

Exclusions:
  • Damage resulting from overload experiment requiring imposition of abnormal conditions.
  • Damage due to deterioration of or wearing away of any item.
  • Gradually developing flaws, defects or cracks .
  • Damage due to willful act or negligence of Insured, his employee or director.
  • Damage to consumables etc.

Personal Accident

This Section covers you and your family members against accidental bodily injury leading to disablement (either permanent or temporary) or death along with free additional benefits such as damage to clothing, dead body carriage cost, ambulance charges, loss of employment benefit, education fund for children and rehabilitation cost for insured person to adjust to injuries as well as modification cost of house or vehicle following such injuries.

Exclusions:
  • Committing or attempting suicide or intentional self-injury
  • Being under the influence of intoxicating liquor or drugs.
  • Engaging in aviation other than travelling as a bonafide  passenger.
  • Pregnancy or childbirth, veneral disease or insanity or HIV related illness.
  • Committing any breach of law with criminal intent etc.

Loan Payment Protection

This Section provides protection for repayment of equated monthly installments (EMIs) for loans against various assets such as home, vehicle, consumer durables etc. belonging to you or your family in case of total disability of the insured person due to sickness or injury upto a maximum period of 12 months.

Baggage

This Section covers loss or damage by accident or misfortune to baggage belonging to you and your family members being carried on a journey anywhere in the world for holiday or business purpose.

Exclusions:
  • Theft not reported to Police within 24 hrs of discovering and a written Report obtained.
  • Damage due to cracking, scratching or breakage of lens or glass.
  • Damage caused by moth, mildew, vermin or any process of cleaning, dyeing, repairing etc.
  • Theft from any unattended vehicle except from car of fully enclosed saloon type having all the doors, windows and other openings securely locked and properly fastened.

Liability

This Section covers you against liability to general public for accidental death, bodily injury or property damage as well as liability to your employees for any injury or death arising out of and in course of employment with you under the Workmen's Compensation Act etc. This Section also covers your legal liability as a tenant under Tenancy Agreement to your landlord for damage to building, electrical installations and other fittings of your home due to perils covered under Section 1 and 2 of this Policy.

 Exclusions:
  • Injury or Damage to property caused by products other than food or beverages sold or supplied by the person insured or on his behalf to visitors for consumption on his premises.
  • Liability in respect of any domestic employee who is not a Workman.

Increased Living Expenses

This Section covers the costs incurred by you following damage to your home by perils covered under Section 1 leading to your home being rendered inhabitable. The costs covered are cost of evacuation for you, your family and domestic employees, emergency medical treatment cost upto certain limits following injuries sustained during damage to your home, cost of hiring furniture and other household goods, cost of removal of home contents, emergency accommodation at hotel/guest house following damage to your home.

At no extra charge we also cover catastrophic emergency expenses to take care of daily food, clothing and shelter following complete damage to your home by fire, earthquake, flood & storm perils and mortgage discharge fees if there is a total loss of your home under Section 1 of the Policy. 

Exclusion

1. This Policy does not cover (not applicable to policies covering dwellings) 
  • The first 5% of each and every claim subject to a minimum of 10,000 in respect of each and every loss arising out of “Act of God perils” such as Lightning, STFI, Subsidence, Landslide and Rock slide covered under the policy 
  • The first 10,000 for each and every loss arising out of other perils in respect of which the Insured is indemnified by this policy 

2. Loss, destruction or damage caused by war, invasion, act of foreign enemy hostilities or war like operations (whether war be declared or not), civil war, mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, rebellion, revolution, insurrection or military or usurped power


3. Loss, destruction or damage directly or indirectly caused to the property insured by
  • Ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel
  • The radio active, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof

4. Loss, destruction or damage caused to the insured property by pollution or contamination excluding
  • Pollution or contamination which itself results from a peril hereby insured against. 
  • Any peril hereby insured against which itself results from pollution or contamination 
 
5. Loss, destruction or damage to bullion or unset precious stones, any curios or works of art for an amount exceeding ` 10000/-, manuscripts, plans, drawings, securities, obligations or documents of any kind, stamps, coins or paper money, cheques, books of accounts or other business books, computer systems records, explosives unless otherwise expressly stated in the policy.

6. Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature. 

7. Loss, destruction or damage to any electrical machine, apparatus, fixture, or fitting arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self heating or leakage of electricity from whatever cause (lightning included) provided that this exclusion shall apply only to the particular electrical machine, apparatus, fixture or fitting so affected and not to other machines, apparatus, fixtures or fittings which may be destroyed or damaged by fire so set up. 

8. Expenses necessarily incurred on (i) Architects, Surveyors and Consulting Engineer's Fees and (ii) Debris Removal by the Insured following a loss, destruction or damage to the Property insured by an insured peril in excess of 3% and 1% of the claim amount respectively. 

9. Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever. 

10. Loss or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the perils covered.

11. Loss by theft during or after the occurrence of any insured peril except as provided under Riot, Strike, Malicious and Terrorism Damage cover. 

12. Any Loss or damage occasioned by or through or in consequence directly or indirectly due to earthquake, Volcanic eruption or other convulsions of nature.

13. Loss or damage to property insured if removed to any building or place other than in which it is herein stated to be insured, except machinery and equipment temporarily removed for repairs, cleaning, renovation or other similar purposes for a period not exceeding 60 days. 




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