Skip to main content

Bharat Griha Raksha Policy

 

Bharat Griha Raksha Policy

 

Wealth Creation is the in thing today across generations. Monetizing one’s knowledge, gaining expertise and putting it to use are defining every individual. Earning money is an easier task as there are many quarters, avenues from where money can flow in today. Securing already created wealth is most advisable and insurance is the best approach to do so.

Insurance cover will minimize the loss due to unexpected unforeseen circumstances. Whether it is property, appliances stocks, with insurance cover it can be safely insured. The Bharat Griha Raksha policy is specially designed to suit the insurance needs of a householder. It covers the building, contents, PA cover and is an apt cover to immediately insure hard earned assets.

What is the cover?

Bharat Griha Raksha policy: Under this policy, insurer agrees to pay for the loss suffered when unexpected events cause physical loss, damage or destruction of the building of your home & contents

The Bharat Griha Raksha policy covers:

a. Building: The building structure of your home.

b. Contents: Furniture, fixtures in your home.

Ø  Where home building is also covered, general contents are automatically covered for 20% of the sum insured of the home building subject to a maximum of ₹ 10 lakh (rupees ten lakh)

Ø  At least one of the above 2 covers is compulsory

c. Optional cover: The following optional covers are available under the policy on payment of additional premium

Ø  Cover for jewelry, silverware, paintings, works of art etc. can be covered under this optional cover.

Ø  Personal accident cover: If the insured peril causes damage to your home building and/or contents also results in the death of either you or your spouse, a compensation of ₹ 5 lakh (rupees five lakh) per person would be payable.

 

What are the unexpected events which policy covers?

Insurance covers physical loss or damage, or destruction caused to insured property by the following unforeseen events occurring during the policy period.

1. Fire

2. Explosion or implosion

3. Lightning

4. Earthquake, volcanic eruption, or other like convulsions of nature 

5. Storm, cyclone, typhoon, tempest, hurricane, tornado, tsunami, flood and inundation

6. Subsidence of the land on which your home building stands, landslide, rockslide

7. Bush fire, forest fire, jungle fire

 8. Impact damage of any kind,

9. Missile testing operations

10. Riot, strikes, malicious

11. Acts of Terrorism

12. Bursting or overflowing of water tanks, apparatus and pipes.

13. Leakage from automatic sprinkler installations. .

14.Theft within 7 days from the occurrence of and proximately caused by any of the above

     Insured events

Who can buy the cover?

The owner or the leased tenant who has an interest in the property and is using as residence can buy the cover.

Ø  There is an automatic cover for general contents for 20% of the sum insured for home building cover subject to a maximum of ₹ 10 lakhs (rupees ten lakh),

Ø  Underinsurance does not apply to the Bharat Griha Raksha policy.- If your sum insured calculated on the basis of the information that you have provided to insurer is less than the actual value at risk, the difference will not affect the amount payable.

Ø  this policy ends when insurer pay the whole sum insured of any cover or item insured.

Duration of Cover

One can opt for duration up to 10 years.

Premium payable would depend on the Sum Insured and covers opted.

 

Conclusion:

This policy is best suited to home buyers who avail Home loans.The interests of the Financier, Owner are duly taken care off by the policy.

We at Zen Insurance assist in choosing the right Insurance Cover .Please contact us for assistance.

 Disclaimer:   

Zen Insurance is an IRDAI registered broker which facilitates quick & accurate insurance broking services. We deal with only regulator approved products of insurers. We do not underwrite the products

 

 

Comments

Post a Comment

Popular posts from this blog

PERSONAL ACCIDENT INSURANCE

  PERSONAL ACCIDENT INSURANCE Personal accident insurance covers death, disablement, bodily injuries to the Insured resulting solely and directly from accident caused by external violent & visible means within 12 months of its occurrence . Accident may include events like: ·          Rail/Road/ Air accidents ·          Injury due to any violent collision/ fall ·          Snakebite, ·          Burn Injury, Drowning, Poisoning etc. Who can buy this policy? Individuals Members of Family Members of Groups Organizations What is the cover? Table I    Death cover Table II     Death and Permanent Total Disablement Table III Death Disablement & Temporary Total Disablement Other Features are: l   Free look Period:   I nsured will be allowed a period of at least 15 days from the date of receipt of the policy to review the terms and conditions of the policy and to return the same if not acceptable. l   Cumulative bonus: Compensation payable shall be i
Post a Comment
Read more

Insurance policies for human resources in an organisation

                                           Of all the capitals invested in an industry, human capital is the top most. Human resource is largely acclaimed to be the wealth behind a successful organisation. Employees are the real cogs in the wheel who keep the industry running despite setbacks. In such a scenario, employee retention assumes significance which in itself is a huge task. A disgruntled employee can mar a company's reputation or  impede the seamless progress of a business. We hear a lot of organisations facing employee attrition  i.e losing talented, high-performing, high value employees. Employers must engage the employees and prevent attrition with various programmes and employee benefits such as: Training and development  Award and rewards While there are numerous factors for employee attrition, a poor compensation scheme or lack of proper employee benefit program are major reasons. Another factor for employee attrition is the way companies treat their employees when
Post a Comment
Read more

SURETY INSURANCE

      Surety Insurance                        Surety; the word itself means caution and is familiar to all ages. Even a layman would know that it is about finance and money. Surety Insurance is the latest addition to the insurance market. Surety insurance provides an assurance to the project owner in the form of a Surety Bond that the contractor would complete the project as per the agreed terms and conditions. Who can buy: Surety Insurance Contracts may be offered to infrastructure projects of government/private in all modes such as construction companies in India that cover road projects, housing/commercial buildings and other projects of Government/Private. Surety Insurance contracts shall be issued only to specific projects and not clubbed for multiple projects. Geographical Area: Surety Insurance contracts shall be issued for projects only in India. Further, the payment of premium for the risk covered under the surety insurance contracts shall also be made in Indian ru
Post a Comment
Read more