In today’s world, owning a home is no longer just a dream. It is a necessity that comes with a great deal of responsibility. With the ever-increasing cost of living and the possibility of natural disasters, it’s important to protect your most valuable asset—your home and the people that live inside it by buying a home insurance policy.
Bharat Griha Rakshak is an insurance policy designed to provide comprehensive coverage for your home and its contents. Whether it’s natural disasters, theft, or fire, our homes are often vulnerable to various risks. With this policy, you are guaranteed to have financial security in the event of any unforeseen circumstances that may arise.
Who is eligible for the policy?
- The Bharat Griha Rakshak Policy is available to individuals and families in India who have permanent residence in India. Individuals and families must be above 18 years of age and have valid identity proof such as Aadhar Card, PAN Card, Driving License, etc.
- Individuals who are currently living as a tenant in India.
What does the policy cover?
Bharat Griha Rakshak policy provides coverage for your home and its contents against any loss or damage due to:
- Natural calamities such as fire, flood, hurricanes, landslides, earthquakes, forest fires, etc.
- Explosion or implosion
- Lightening
- Missile testing operations
- Strikes, riots, malicious damage, etc.
- Bursting of pipes, water tanks
- External activity, like falling trees, walls, and aircraft
- Theft (has to be informed within 7 days of the event)
- Terrorist activity
What does the policy exclude?
Exclusions under the Bharat Griha Rakshak policy include:
- Any damage caused by normal wear and tear
- Losses resulting from nuclear disasters
- Destruction of property due to war, invasions
- Any damages caused due to the deliberate acts of the insured
- Damage because of pollution and contamination
- Loss due to the disappearance and removal of the property
- Reduction in the market value of the property
- Loss or damage to unset precious stones, manuscripts, plans, and drawings
Benefits of the Policy
The Bharat Griha Rakshak policy offers several advantages to policyholders.
- Comprehensive Protection- Bharat Griha Rakshak policy provides comprehensive home insurance coverage for your home and personal possessions against losses due to unexpected events such as fire, burglary, earthquake, storm, flood, etc.
- It covers the structure of the home, its contents, parking space, water tanks, sheds, furniture, electrical appliances, and other items. The cover for home contents is 20 % of the sum insured of the building, subject to a limit of Rs 10 lakhs.
- The policy also offers coverage for additional living expenses in case of any damage to the home and any legal liabilities arising from an accident or injury caused to a third party on your property.
- It also offers coverage for the loss of rent due to the destruction of the property by insured perils.
- Additional cost advantages– Buying home insurance has the added benefit of providing coverage for the cost of repair or replacement of the insured items, architect, surveyor, and consultant engineer fee (5% of the claim), and cost of removing the debris (2% of the claim) from the site.
- Optional covers– The Bharat Griha Rakshak policy also provides optional covers-
- Cover for valuables like jewellery, silverware, paintings, artworks, etc., on an agreed value basis.
- Personal accident cover in which compensation of Rs. 5 lacks would be paid in case the event results in the death of either you or your spouse.
- Affordability– One of the most significant advantages of the Bharat Griha Rakshak policy is its affordability. The policy is designed to be accessible to people of all income levels, making it a great option for budget-conscious homeowners. Buying a home insurance policy also offers a range of discounts on premiums, making it even more affordable.
- Financial Stability -The Bharat Griha Rakshak policy is an ideal choice for homeowners seeking comprehensive home protection along with financial stability during times of uncertainty.
- Flexible plans– The policy offers a range of flexible plans that can be easily accessed and offers low premium payments.
- Add on benefits -Finally, the Bharat Griha Rakshak policy also offers a range of additional benefits to the policyholders. These include discounts on home improvement projects and access to a 24-hour helpline for any questions or concerns. Buying home insurance also offers a range of additional services, such as legal advice and assistance in the event of a dispute.
How to file a claim in Bharat Griha Rakshak home insurance?
To file a claim under Bharat Griha Rakshak policy, you must notify the insurance company immediately and provide your policy number. Then you should fill out the claim form within 30 days of the incident and provide the following documents-
- Age proof – PAN Card, Voter ID, Driving License, Passport, etc.
- Address proof – PAN Card, Voter ID, Driving License, Passport, etc.
- Proof of ownership of the property – Property Deed, Ownership Certificate, Lease Agreement, etc.
- Description of the loss
- Photographs of the property
- Evidence of the event and your loss
- Copy of Electricity Bill for Proof of Address
- Bank Details for Claim Settlement
Your home is your most prized possession, so it is important to ensure it’s protected. With Bharat Griha Rakshak Policy, you can rest easy knowing that your home is covered against any unforeseen loss, damage, and destruction. It provides protection up to a sum insured that you can choose depending on your needs and budget. So secure your homes today by buying a home insurance policy.
Disclaimer: The above information is for illustrative purposes only. For more details, please
refer to the policy wordings and prospectus before concluding the sales.