Home Insurance: Property Insurance for your home | Royal Sundaram
Our Home Insurance Offers You
This section offers a comprehensive cover for your residential flat/house.








This section offers a comprehensive cover for contents, appliances, jewellery, mobile and external equipment’s and much more.








FAQs
Home Insurance offers protection to the house owner, in the event of physical destruction or damage caused to the home building by fire and allied perils like storm, tempest, flood and inundation. It also offers protection to the loss or damage caused to the household articles placed within the house. Key Features of the Home Building insurance
- Policy can be taken for a longer tenure of up to 20 years.
- Sum Insured should reflect the reconstruction cost, in the event of a total loss.
- Facility to include the financier’s name in the policy.
- Coverage available for contents, appliances, mobile phones, lap top & jewelry.
- No asset declaration or invoices needed at the time of taking the cover.
- Policy can be taken for a tenure of up to 3 years.
Home Building cover and Home contents cover are the 2 types of Home insurance covers that are available in the market today.
- No documentation required for a SI of up to Rs5 crores.
- Coverage available on reinstatement value basis from silver plan onwards.
- Comprehensive cover including fire and allied perils and earthquake.
- Option to opt for Escalation Benefit (10% each year) OR Tenure Discount. (10 to 50%) for long term policies.
- Tenure from 1 to 20 years.
- Terrorism available as an add on cover if the tenure opted is for 1 year.
- 2 add on covers available for Loss of rent and Rent for alternate accommodation.
- Separate SI for compound wall & landscaping.
- Coverage includes loss or damage to doors and windows due to burglary.
- Buildings of age more than 30 years old.
- . Damage caused by depreciation or wear and tear or which are pre-existing in nature or which falls under the terms of a maintenance agreement.
- Loss or damage or collapse of "Building" due to structural defects, latent defects, poor maintenance, workmanship.
- Higher SI options of up to Rs50 lakhs for Contents, Appliances & Jewellery.
- Cover available for Mobile phones, Laptops, I-Pad & I-Pod’s and palmtops up to Rs50 lakhs.
- Coverage for external equipment’s like DG set & solar water heater up to Rs10 lakhs.
- Coverage for temporary resettlement of 1 week up to Rs 50,000/-.
- Coverage for loss of cash up to Rs25,000/-, while returning from bank.
- Optional PA & Employee compensation cover for employees working at home.
- Cover for Paintings and work of art available as a part of the Contents section.
- Policy Tenure from 1 to 3 years.
- Terrorism available as an add on cover if the tenure opted is for 1 year.
- Flexibility to drop per item limit, by paying additional premium in Silver & Gold plans.
- 0 Depreciation cover available in Diamond plan for items up to age of 5 years.
- Comprehensive cover which will include, depending on the sections / plan opted, fire and allied perils, burglary, electrical and mechanical breakdown and accidental damage.
- Items aged more than 10 years in respect of the loss, destruction or damage due to Electrical and Mechanical breakdown.
- Loss of bullion, unset/loose precious stones/ gems not forming part of Jewellery and valuable.
- Loss of Jewellery and valuables whilst being carried as an accompanied baggage.
- Items of age more than 4 years old excepting in the case of Digital/Video cameras where it will be more than 10 years old.
Period on Risk | Rate of Premium to be retained |
Up to 1 month | 25% of Premium |
Up to 3 months | 50% of Premium |
Up to 6 months | 75% of Premium |
Up to 12 months | Full Premium |
- The actual number of years completed will be rounded off to the next year (for instance 4 years 2 months will be taken as 5 years)
- Premium calculated after allowing the discount applicable as per the actual period on risk shall be retained and the balance if any shall be refunded.
You have the option to insure your contents that are placed in this rented place.
- Bronze - Fixed sum insured limits. Coverage on named peril basis with depreciation and per item limit.
- Silver/Gold – Named peril basis with depreciation and per item limit.
- Silver/Gold – Named peril basis with depreciation and with a 10% loading on premium rates for waiver of per item limit.
- Platinum - All risks basis with depreciation and without per item limit.
- Diamond – All risks basis with zero depreciation and without per item limit (Applicable only when the age of the insured item is up to 5 years. Where the age of the insured item exceeds 5 years, depreciation shall be applicable)
- Claim form
- Fire brigade Report (if applicable)
- Estimate of repairs/replacement
- Invoices, bills, receipts of final payment to repairer
- Any other document as sought by the surveyor
- Claim form
- Meteorological Report
- Newspaper cuttings if any
- Estimate of repairs/replacement
- Invoices, bills, receipts of final payment to repairer
- Any other document as sought by the surveyor
- Claim form
- Newspaper cuttings if any
- Estimate of repairs, replacement
- Invoices, bills, receipts of final payment to repairer
- Any other document as sought by the surveyor depending on the nature of the claim.
- Duly completed Claim form
- Statement on sequence of incidents leading to loss together with details of items stolen
- First Information Report filed with Police showing item identifications like description of items, date of incident and estimate of loss.
- Loss estimate and Basis of arriving at the loss estimate
- Invoice/Bills in original
- Final Police Report
- Non-traceable Certificate issued by Police authorities
- Newspaper cutting if any reporting the incident
- Letter of indemnity
We will appoint a surveyor, who will visit your home and do an estimate of loss. He will prepare and submit a report on the estimate of loss, which will become the basis of the loss settlement.
S.No | Plan | Amount of resettlement |
1 | Bronze | 10000 |
2 | Silver/Gold | 25000 |
3 | Platinum/Diamond | 50000 |
- Fire, Lightning, Explosion/Implosion
- Aircraft Damage
- Riot, Strike and Malicious Damage
- Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, and Inundation
- Impact damage by any Rail / Road Vehicle (other than vehicles belonging to the Insured person/ employees of the Insured person/any occupier of the Insured Premises) or Animal.
- Earthquake (Fire and Shock), Subsidence and Landslide including Rock slide
- Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
- Missile testing operations
- Leakage from Automatic Sprinkler Installations excluding loss, destruction or damage caused by
- Repairs or alterations to the buildings or premises
- Repairs, Removal or Extension of the Sprinkler Installation
- Defects in construction known to the Insured.
- Bush Fire excluding loss, destruction or damage caused by Forest Fire.
- Terrorism (Optional) and
- Burglary
Plans | Max available SI for Contents, Appliances & Jewellery sections | Mobile Equipment’s Section | External Equipment’s Section | Total SI for items placed at home falling under these sections. |
Bronze | Rs 1,25,000 | Nil | Nil | Rs 1,25,000 |
Silver | Rs 15,00,000 | Rs 2,00,000 | Nil | Rs 17,00,000 |
Gold | Rs 45,00,000 | Rs 5,00,000 | Rs 5,00,000 | Rs 55,00,000 |
Platinum | Rs 75,00,000 | Rs 7,50,000 | Rs 7,50,000 | Rs 90,00,000 |
Diamond | Rs 1,50,00,000 | Rs 10,00,000 | Rs 10,00,000 | Rs 1,70,00,000 |