Current Location : Delhi/NCR (Change)
Welcome Guest | Login | Register
0 on 5 from 0 ratings

Overview

The house holders’ package policy is designed tornprovide its customers a complete home protection plan. The policy coversrnvarious risks and contingencies experienced by householders. Apart fromrnprotection for property, it provides protection for domestic and electronicrnappliances and interests of the Insured and his family members. The policyrnoffers affordable premium and attractive rebates.

Coverage

Covers structure and contents of house, Coverrnagainst Fire and allied perils, Burglary & Theft, electronic appliances,rnprecious items such as jewelry, pedal cycles, plate glass, baggage insurancernand personal accident insurance.

About Bajaj Allianz House holders Package Policy

Key Featuresrn

·        rnProvides protection for property,rndomestic and electronic appliances, interests of the insured and their familyrnmembers in a single policy

rn

·        rnAffordable premium

rn

·        rnAttractive rebates

rn

·        rnWaiver of under-insurance* (* conditionsrnapply)

rn

 What does the policy cover?

rn

Fire can cause huge damages to building and contents of therninsured premises, which can affect your finances. We provide a policy whichrncovers dangers such as:

rn

The comprehensive policy covers the following sections:

rn

1) Fire and Allied Perils :

rn

·        rnFire, Lightning, Explosion/Implosion, Aircraftrndamage, damage from rail/road vehicle or animal, Riots, Strike and MaliciousrnDamage, Storm, Cyclone, Flood, Earthquake, Landslide including rock slide,rnMissile testing operations, Leakage from automated sprinkler installations andrnbush fire

rn

·        rnThe sum insured (Value denoted for insurance)rncan be either on:

rn

o  rnREINSTATEMENT VALUE basis (Which is the valuernfor replacing the item with a new item of same type and make). At the time of lossrnthe claim will be settled without applying depreciation. In effect you will berngetting new for old

rn

o  rnMARKET VALUE basis (Which is the reinstatementrnvalue less depreciation depending on the age of the item). At the time ofrnloss,the claim will be settled after applying depreciation

rn

o  rnThe electronic equipments/TV etc. which you wishrnto cover under the respective section need not to be insured under this sectionrnbut can be covered under Electronic Equipment Section.

rn

o  rnFor wall units and similar furniture, which arernfixed to the walls, the sum insured to be included in the value of thernbuilding, if the building is insured

rn

Main Exclusions:

rn

·        rn5% of the claim amount for every claim arisingrnout of Act of God perils

rn

·        rnDamage due to terrorist activities

rn

Note: Terrorism Cover Extension can be opted by paying extrarnpremium

rn

2) Burglary & Theft:

rn

This policy provides you the peace of mind you need byrnproviding a cover against :

rn

·        rnThe damage caused to contents of the insuredrnpremises due to burglary and theft

rn

·        rnProtection provided on first loss basis i.e. 40%rnof the total value of contents along with list of value needs

rn

·        rnThe total sum insured should be the market valuernof the property

rn

Main Exclusions:

rn

Loss of livestock, motor vehicles, pedal cycles and moneyrnstamps (Unless specifically declared.) Burglary/Theft where any member of therninsured's family is the principal

rn

3) Jewellery and/ or Precious Items:

rn

Jewellery today has become an integral part of our lives forrnany occasion. We provide a policy which safeguards this asset by covering anyrnjewellery possessed by the insured.

rn

Valuation Certificaternis required:

rn

·        rnIf the value of individual item in this sectionrnexceeds 10% of the sum insured or otherwise liability shall be restricted torn10% of the sum insured

rn

·        rnIf the sum insured is Rs. 5 lacs or more orrnwhere the value of the individual item exceeds Rs. 5,000/-

rn

Main Exclusions:

rn

Loss or damage due to cracking, scratching or breakage ofrnlens, glass, gramophone records or other items of fragile nature

rn

Theft from car, except from a fully enclosed saloon carrnhaving all doors, windows and other openings securely locked and fastened

rn

4) Plate Glass:

rn

If the fixed plate glass at the insured premises getsrndamaged during the policy period, then we will cover it against the accidentalrnbreakage, provided details of the plate glass along with its value is provided.rn

rn

Main Exclusions:

rn

·        rnBreakage during removal, alterations or repairsrnon the insured premises

rn

·        rnDisfiguration, scratching or damage of glassrnother than fracture  extending throughrnthe entire thickness of the glass

rn

·        rnBreakage of glass that is not completely andrnsecurely fixed

rn

 

rn

5) Breakdown of Domestic Appliances:

rn

This policy covers the following:

rn

·        rnWe will cover the Domestic Appliances such asrnair conditioners, refrigerators etc. in the insured premises against accidentalrnelectrical or mechanical breakdown. The list and values of items to be coveredrnshould be indicated

rn

·        rnLosses, which can be repaired, will be settledrnby paying the repair cost without applying any depreciation (except for partsrnwith limited life). For total losses, depreciation at the rate of 10% per yearrnup to a maximum of 50% will be applied depending on the age of the item. Itemsrnmore than 10 years old will not be insured.

rn

Main Exclusions:

rn

·        rnWillful act or gross negligence of the insured

rn

·        rnLoss or damage for which manufacturer orrnsupplier is responsible

rn

·        rnLoss or damage caused due to wear and tear

rn

·        rnMobile phones or similar communication devices

rn

The Insured shall bear 1% of the sub-limit of the SumrnAssured, against the Domestic Appliance, or Rs. 50/-, whichever is higher, inrnrespect of every claim.

rn

6) Electronic Equipment:

rn

You can insure your Computer, TV and VCR against all risksrnof sudden physical loss.

rn

·        rnSum insured is to be on reinstatement valuernbasis

rn

·        rnLosses, which can be repaired, will be settledrnby paying the repair cost without applying any depreciation (except for partsrnwith limited life). For total losses, depreciation at the rate of 10% per yearrnfrom date of manufacture up to a maximum of 50% will applied depending on thernage of item

rn

·        rnThird party liability arising out of use of TVrnis also covered under this section

rn

·        rnItems more than 10 years old will not be insured

rn

Note: List of items & their values to be covered are tornbe provided.

rn

Main Exclusions:

rn

·        rnLoss or damage for which manufacturer orrnsupplier is responsible Loss or damage caused due to wear and tear, gradualrndeterioration, climatic conditions, rust, corrosion and insects

rn

·        rnCosts incurred in connection with functionalrnfailures

rn

·        rnLoss or damage caused by willful acts or willfulrngross negligence of the insured or Insured's family

rn

·        rnThe Insured shall bear the first 10% or Rs.rn2,500/- (Whichever is higher) for claim concerning computers and the first 10%rnor Rs. 500/- (Whichever is higher) for claim concerning any other item ofrnElectronic Equipment

rn

·        rnTerrorism Cover Extension can be availed byrnpaying extra premium against terrorist damages

rn

7) Pedal cycles

rn

Pedal cycles are commonly found on the road and also exposedrnto maximum risk due to constant accidents. This policy offers you the followingrnbenefits :

rn

·        rnPedal cycles can be insured against all risksrnsubject to standard exclusions

rn

·        rnThird party liability, arising out of the use ofrnpedal cycle is also covered

rn

Main Exclusions:

rn

·        rnLoss or damage caused by over loading, strain orrnmechanical breakdown

rn

·        rnDamage to accessories by theft if unless pedalrncycle is stolen at the same time

rn

8) Baggage Insurance:

rn

The current lifestyle includes a lot of touring but there isrnalways a strong possibility of losing your baggage during your travel. Now yourncan enjoy your tour peacefully as the policy pays you, in respect of any lossrnregarding your baggage while on holiday / tour anywhere in India.

rn

Main Exclusions:

rn

·        rnThe policy doesn't cover theft from car exceptrnfrom fully enclosed saloon cars having all the doors, windows and otherrnopenings securely locked

rn

·        rnLoss to money, securities, jewellery orrnvaluables, travel tickets, cheque, share certificates and articles ofrnconsumable nature

rn

9) Personal Accident Insurance:

rn

Accidents are sudden and often result in large financialrnimplications.

rn

Our policy makes provisions to protect such losses byrncovering:

rn

·        rnThe coverage is broadly divided in 3 types

rn

Basic : Death + Children‘srnEducation Bonus

rn

-Maximum SI 100 times of monthlyrnincome subject to maximum of Rs 25 lakhs