Personal Insurance

Home/Householder's Insurance

Highlights

It is a packaged policy which provides a range of covers that are required for a common householder.Property valuation is done by multiplying the built up area of the property with the cost of construction per square feet.

Insured has to get his household contents as per their market value and Electrical Items on replacement value. Even if you have rented your property you can cover the contents of the house against fire & allied perils, Burglary and/or housebreaking, hold-up, mechanical and electrical breakdown of appliance etc.

Moreover if you are also looking to cover the structure of your building (home), we can provide you an additional policy of Standard Fire and Special Perils policy covering your building structure. This policy will additionally cover your building structure against loss due to fire and allied perils.

Key Benefits

You have the option of taking a Standard Fire and Special Perils policy if you want to insure the property while it is under construction.

Once the construction is complete, you may opt for householder Policy to cover your content of the house against fire & allied perils, Burglary and/or housebreaking, hold-up, mechanical and electrical breakdown of appliance etc with addition of host of value added features.

Your possessions as well as that of family members permanently residing with you are covered. In addition, you can declare possessions belonging to guests at home as 'goods held in trust,' and purchase insurance for them.

The proposer is entitled to 15% discount for opting more than four section and 20% discount on premium for opting more than six section respectively, excluding Tariff Sections premium i.e. Fire & Allied Perils Section and Public Liability & Workman Compensation Risks Section, but for Section discount all Sections (Tariff & Non-Tariff sections) is considered.

No health check up is required. The householder policies can be bought on line using credit, debit cards as well as net banking .

Covered

There are Ten Sections under Householder's Package Policy :

• Section I : Fire & Allied Perils
• For House Building.
• For t household contents.


• Section II :
  Burglary & Housebreaking including larceny or theft (Contents only)


• Section III : All Risk against valuable items.


• Section IV : Plate Glass Cover ( fixed )


• Section V : Breakdown of domestic appliance.


• Section VI : Television Sets (All Risk ) cover


• Section VII : Pedal Cycle (All Risks) cover.


• Section VIII : Baggage Insurance


• Section IX : Personal Accident Insurance


• Section X :
  Public Liability & Workman Compensation Risks.

Only Section I-B (Fire & Allied Perils) cover against household contents is compulsory. In addition to this the proposer has to opt any two more section from remaining Nine Sections.

Exclusions

The Company shall not be liable in respect of-

• Excess applicable in each section.
• Loss or damage due to terrorism activities unless otherwise specifically included..
• Loss or damage caused by depreciation or wear and tear and consequential losses.
• Loss ,Damage, liability or expenses whether direct or indirect occasioned by happening through or arising from any consequence of war, Invasion, act of foreign enemy, hostilities (whether war be declared or not), Civil War, Rebellion, Revolution, Insurrection warlike operation, military or usurped power or Civil commotion or loot or pillage in connection therein.
• Accident arising due to carrying of illegal activity and or any kind of unlawful act. .Loss or damage or liability arising out of violation of any Rules and Regulations of the Govt. or Statutory authorities.
• Loss or damage directly or indirectly caused by or arising from or inconsequence of or contributed to by nuclear weapon materials.
• This insurance does not cover loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by ionizing radiations or contamination by radio activity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel or from any nuclear weapons, materials. For the purpose of this exclusion only the combustion shall include any self sustaining process of nuclear fusion.

Note : Policy details given are indicative, not exhaustive. Please contact your nearest Arunaya office for further details.