Key Highlights
Policy Can be bought by Housing societies and Individual home/flat owners
- Covers risk against Fire, Flood, Earthquake, Lighting, Explosion, Inundation, Storm, Riot, Strike, Terrorism (optional) etc..
- Get Policy online instantly – No documentation required
- Coverage upto 15 years. Housing society can buy it only for one year.
- Coverage from 1 Lakhs to 3.0 Crs
- Discount upto 50%
- Provision for increase in Sum Insured by 10% at end of every year
- Simplified claim procedure
- Mobile app to manage Policy
Features
Given below is the list of key features. For details please refer to the policy wording section.
Policy provides cover against
- Fire
- Earthquake
- Lightning
- Explosion/Implosion
- Aircraft Damage
- Riot, Strike, Malicious Damage
- Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation Loss, destruction or damage directly caused by Storm, Cyclone
- Impact Damage
- Subsidence and Landslide including Rock slide
- Bursting and/or overflowing of Water Tanks, Apparatus and Pipes Missile Testing operations
- Leakage from Automatic Sprinkler Installations
- Bush Fire
- Option to cover Terrorism at a nominal premium
- Covers both Structure & Contents of house
- Structure covers the physical structure of the home flat that can be damaged because of earthquake, flood, fire
- Content covers the belongings inside your home for example furniture, bicycles, Television, refrigerators
- Flexibility to select between 2 plans (a) coverage for increased Sum insured at end of each year under long term policy (b) Fixed Sum Insured basis in lieu of long term discount
- Multiyear Policy can be availed by house/ flat owners only
- Reenters can cover only content and buy policy for one year
- Housing societies can buy policies for one year tenure
General Exclusions
Given below is the list of key exclusions. For detailed terms and conditions please refer to the policy wording section.
- Losses arising out of Burglary, theft. Housebreaking, larceny
- Loss and/or damage arising out of War, Invasion, Act of Foreign enemy, hostilities, etc
- Loss or damage due to nuclear perils
- Damage to property due to Pollution and contamination
- Loss or damage due to wear and tear, gradual deterioration or slowly developing flaws.
- Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature
- Consequential Loss
- Willful Misconduct or Negligence
- Loss and/or damage to jewellery, precious stones, money, bullion or documents of any kind unless specifically declared
- Cost of land
- Co-operative societies cannot take long term policy for entire society building
- Property Under construction cannot be covered under this policy
- Any Loss or damage occasioned by or through or in consequence directly or indirectly due to Earthquake, Volcanic eruption or other convulsions of nature if Earthquake as Add on cover is not opted.
