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In this article, you will find all the basic information about the Bharat Griha Raksha insurance policy that you can purchase. The policy provides insurance cover for your home building and home contents. Insurance makes you free from worries of upcoming damages to your house.

Insurance Covers

  1. Home Building Cover- that covers any loss, damage, fire, calamities, or destruction of your home building.
  2. Home Contents Cover- that covers articles or things in your home.
  3. Optional covers-
    1. Cover for valuable contents on agreed value basis
    2. Personal Accident Cover
home loan policy

According to policy, what are the Dos and Dont's

  1. While filling up the proposal form-
    • Read the instructions in the proposal form carefully before filling up the details.
    • Understand the basis for arriving at the sum insured for both home building and home contents before filling up the details. It is also explained in the sum insured section.
    • Fill up the proposal form completely and answer all the questions carefully.
  2. Your obligations during the policy period-
    • Take care to prevent theft, loss, or damage to your home building and home contents.
    • Inform if there is any change in circumstances such as change of address, details of additions or alterations to Home Building, etc
    • Do not allow unauthorized persons to occupy Your home building.
  3. Your obligations when you have a claim-
    • Give notice of loss to the policy provider, as required
    • Inform the respective authorities, as required.
    • Make true and full disclosures in your claim form.
    • Give all documents supporting the claim.
home-insurance

Sum Insured

For Home Building

The maximum amount we pay under this insurance policy is the sum insured which is based on the prevailing cost of construction of your home building. at the commencement date of the policy. Premium is calculated with reference to the amount of sum insured.

If you have purchased a policy of more than one-year duration, the sum insured will automatically increase each year by 10% for home building cover. There will be no additional premium for this increase.

For Home Contents

The insurance policy has inbuilt cover for the General contents of your home equal to 20% of the sum insured for home building subject to a maximum of rupees 10 lakhs if you have opted for both some building and home contents cover. You can choose a higher sum insured by declaring it in the proposal form and paying an additional premium.

If you have purchased only home contents cover, you have to declare the sum insured for general contents. This policy covers general contents that are usual in any home i.e., furniture and fittings, television sets, telephones, electronic items, antennas, water storage equipment, air conditioners, kitchen equipment, and other household items.

Optional covers

You must apply for these insurance covers, and pay an additional premium. It covers Valuable contents of your home such as jewelry, silverware, paintings, works of art, etc. It provides the waived requirement of valuation certificate if the sum insured opted is up to rupees 5 lakh and individual item value does not exceed rupee one lakh.

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