Every basic house is made up of four walls, some doors, a few windows and a roof. Similarly, your policy is made up of various elements that will protect your home. The cover is spread out over four comprehensive categories.
Fire and Allied Perils
- Maximum Sum Insured (SI) for the structure of your home is Rs. 25 Lakh. You can use the following pointers to calculate the SI on your own:
- 1) Multiply the ‘built-up area’ of your home with the current construction cost per square foot.
- 2) Exclude the cost of the land from the calculation of the SI.
- 3) Include the construction of any compound wall for the home.
- Cover for household goods like furniture durables, clothes, utensils and such against losses resulting from the following threats:
- Explosion / Implosion
- Aircraft damage
- Riots, strike
- Landslide, flood and inundation, earthquake
- Impact damage
- Cover for jewelry (gold, silver, precious metals and stones) and other valuable items against damage or loss due to an accident or misfortune that occurred, while present within the premises covered under the policy. Please note that the SI for the jewelry is limited to 25% of the SI for ‘Fire & Allied Peril – Other contents’ subject to maximum of Rs. 2 lakhs.
- Cover against damage or loss due to fire. Apart from this, damage or loss due to terrorism and earthquake are built into the policy.
Burglary and Housebreaking
Compensation of up to Rs. 2 lakh for loss or damage to the items in your house against any theft, burglary, larceny and housebreaking.
Cover for jewelry (gold, silver, precious metals and stones) and other valuable items against damage or loss due to theft, burglary, larceny and housebreaking. Please note that the SI will be equal to what is selected for the ‘the Fire & Allied Peril – Jewelry’ section.
Domestic Mechanical and Electrical Appliances
- Under this, you get cover for domestic mechanical and electrical appliances (up to 10 years old) against any mechanical and electrical breakdown.
- Choice of items that you want to cover under the following categories
- Domestic Electrical and Mechanical appliances:
- Washing Machine
- Air conditioner
- Vacuum Cleaner
- Domestic Electronic appliances
- Music System
- DVD Player
Please note that the value of your appliance will match the current replacement value of the new appliance of the same model.
- Choice of cover for electronic items like computers, music systems or other domestic electronic appliances against fire & allied perils, burglary, breakdown etc. Items like mobile phones, iPods, Laptops and Tablet Computers are not part of this cover.
- Cover for one or multiple television systems in the house. If you have more than one system, calculate your SI based on their total value. The systems that are considered under this cover are:
- Plasma Screens
- Flat Screens
Under this cover, you are entitled to receive compensation in case of accidental death or permanent total disablement following an accident. You can cover yourself and your family members (aged from 5 to 70 years).
The package offered to your and your family members will follow this kind of structure:
- Maximum Sum Insured (SI) for self and/or spouse, if earning, can be the SI opted for under "Fire and Allied Peril – Other Content" for each person.
- Sum Insured for a non-earning spouse will be 50% of the earning member or Rs. 1 lakh, whichever is less.
- Children, aged between 5 years and 25 years, will have an SI of 25% of the earning member or Rs. 50,000 per child, whichever is less.