Bajaj Allianz Bharat Griha Raksha Policy

At a Glance

New Standard Fire product introduced by IRDA for covering Dwellings & Co-Operative Societies.

• Single policy offering risk coverage for Home building, contents, valuables and Personal accident
• Enhanced coverages, Innovative add ons
• Personal Accident upsell opportunity
• Dwellings policy can be offered on long term basis max up to 10 years tenure.
• Individual Buildings and Content
• Apartments / Flats and Contents
• Housing Societies
• Only Content
• Long Term Policies for Buildings / Apartment / Flats upto 10 years
• Jewelry, silverware, paintings, works of art etc., as an add-on

Covers

Sum Insured – Home Building and Contents shall be insured on Reinstatement/Replacement value basis.

For Home (residential) structure including Fittings and Fixtures

Carpet Area of the structure in square meters X Rate of Cost of Construction at the Commencement Date

(The Rate of Cost of Construction is the prevailing rate of cost of construction of Home Building at the Policy Commencement Date as declared by Insured and accepted by Insurer and shown in the Policy schedule.)

For Valuable Contents-Sum insured on Agreed Value Basis shall be available on declaration of the details and submission of a Valuation Certificate

Features & Benefits

Loss of Rent - For Tenant, we pay differential rent for alternative accommodation. Owner and gave your house on rent, we pay loss of rent for the amount and duration opted

A built-in cover - For Contents of equal to 20% of the Sum Insured for Home Building Cover subject to a maximum of ₹ 10 Lakh,

Option to choose higher SI - for content on declaring the same with details by paying additional premium

Building - Cost of Construction : Amount required to construct Building at the time of Loss

Cost on Commencement Date

• For residential structure including Fittings and Fixtures:  Carpet Area of the structure in square metres X Rate of Cost of  Construction at the Commencement Date
• For additional structure:

Amount based on the prevailing rate of Cost of Construction at  the Commencement Date as declared by  insured and agreed by  insured

Escalation Buliding - Long Term Policy: Auto escalate @ 10% pa for a maximum of  100% of the Sum Insured at the Policy Commencement Date  without additional premium

Example: A Sum Insured of ₹10 Lakh at policy inception shall escalate to ₹11 Lakh by 1st policy anniversary, ₹12 Lakh by 2nd  policy anniversary, ₹13 Lakh by 3rd policy anniversary and so  on, with the maximum being ₹20 Lakh without additional  premium.

Annual Policy: Sum Insured shall be automatically increased each  day by an amount representing 1/365th of 10% of Sum Insured  at the Policy Commencement Date

Example: For Building if Sum Insured is 50 Lakh and 10% of Sum Insured 5 Lakh and 5 Lakh/365 is 1370, for Every completed day building value will be escalated by 1370

Add On Cover- Cover for Valuable Contents on Agreed Value Basis

• Jewelry, silverware, paintings, works of art etc.
• On agreed value basis
• Valuation certificate is WAIVED if SI opted is up to ₹ 5 Lakh and individual item value does not exceed ₹ 1 Lakh

Personal Accident - If insured peril causes damage to Home Building  and/or Contents, also resulting in: Insured’s or his/her spouse death. Compensation of ₹5 Lakh per person

Add On Coverage: -Snow Damage , Accident Damage, EMI Protection, Deliberate Damage, Growing Plants, Crops & Trees, Landscaping, Incidental Damages, Immediate Repairs,

Perils Covered -  14 Perils cover Fire, Explosion or Implosion, Lightning, Earthquake, volcanic eruption, or other like convulsions of nature, Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Tsunami, Flood and Inundation, Subsidence of the land on which Your Home Building stands, Landslide, Rockslide, Bush Fire, Forest fire, Jungle fire, Missile testing operations, Riot, Strikes, Malicious Damages, Acts of terrorism, Impact damage of any kind, i.e., damage caused by impact of, or collision caused by any external physical object (e.g. vehicle, falling trees, aircraft, wall etc.), Bursting or overflowing of water tanks, apparatus and pipes, Leakage from automatic sprinkler installations, Theft with in 7days of occurrence of an insured peril

In-Built Covers

• Home contents automatically cover for 20% of building SI max up to 10lacs
• Architect, surveyor, consulting engineer fees 5% & debris removal cost 2% of claim amount
• Loss of rent & rent for alternate accommodation
• Escalation for Home Building Cover:
  1. Long-Term Policy: 10% per annum for a maximum of 100% of SI at the Policy Commencement Date
  2. Annual Policy: Each day automatic increase of amount representing 1/365th of 10% of SI at the Policy Commencement date

Add-On Covers (On payment of additional premium)

• Cover for Valuable Contents on Agreed Value Basis
• Personal Accident cover (Accidental Death) for insured and spouse Rs 5lacs per person due to insured perils causing damage to home building or contents.

Disclaimer

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Royal Sundaram General Insurance Company Limited (IRDA of India Regn.No.102) CIN: U67200TN2000PLC045611 having the Registered office address at No.21, Patullos Road, Chennai - 600002. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. Bajaj Allianz Bharat Griha Raksha Policy with UIN-IRDAN113RP0009V01202021 is a Home Insurance product underwritten and issued by Royal Sundaram General Insurance Co. Limited.The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. ISNP registration valid.

The contents and product information of this web site are given strictly for your convenience and is indicative in nature and ‘as is’ received from the Insurer. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance. Bank does not guarantee that this website reflects latest amendments/ information at all times or at any time. Bank shall have no liability to the customer for any loss or damage of any kind incurred for reliance on the content and product information available on this website.

For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. Tax benefits are available as per the prevailing tax laws, which are subject to change.

Contact our 24-hour toll free customer service helpline number 1-800-209-4555 / 1-860-267-1234 or our overseas customer service number 91-44-66854555 or write to us at [email protected]. Visit us at: www.dbs.com/in

UIN: IRDAN113RP0009V01202021

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