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Gruh Suraksha Home Insurance Plan

Home Insurance
 

Get cover of up to Rs 1.7 crores for
contents placed in your home

Section II - Household Articles

This section offers coverage for all the contents placed in your home plus some very useful additional covers which you may require when you go outside the house, like coverage for baggage while on a business trip or protection for the money that you have withdrawn from your bank and are returning home with the same. 

 

Plans & Sum Insured options

This household articles insurance comes to you at customized plan options to suit your unique requirements. You can choose from the below plans, which best matches your sum insured requirement, different section wise. The below chart gives details of the maximum possible SI that you can opt under different sections from the given plan options. (The below is a snap shot of some of the key sections. Please refer to the product benefit table for complete details on all available sections.)
 
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
 

Items Covered:

  • Household contents - Clothing, Linen, Furniture... Know more
  • Household Appliances – Refrigerator, Dish washer, Air conditioner... Know more
  • Jewellery and Valuables - Silver, Gold, Platinum... Know more
  • Third Party Liability - Excluding liability arising out of motor vehicles, Golf Carts & Perambulators... Know more
  • Mobile Equipment’s - Phones, Tablets, Laptops... Know more
  • Baggage - Clothing, Toiletries & Perfumes, Bags and Suitcases... Know more
  • External Equipment’s - DG Set (up to 5 KVA), Solar water heater (Up to a Maximum of 500 liter capacity only)... Know more
  • Temporary Resettlement Expenses - In the event of loss or damage to the building insured under this policy due to operation of an insured peril... Know more
  • Loss of cash - Loss of money in coins and/or currency notes... Know more
  • Personal Accident to Household Staff - In case of death or disability arising out of and consequent (within 12 months)... Know more
  • Employee Compensation to Household Staff - Company will pay for compensation and litigation expenses which Insured... Know more
  • Coverage against terrorism - Terrorism will be offered subject to the policy tenure opted being 1 year only... Know more
 

General Exclusions:

The Company shall not be liable in respect of each and every claim for loss or damage to the insured property by or due to or arising from:
  • The amount of excess as stated in General Excess table of the policy in respect of each and every section.
  • Any costs incurred in connection with the elimination of functional failures unless such failures were caused by an indemnifiable damage.
  • Loss or damage by Burglary and Housebreaking including Theft where any member of your family is involved as a principal or an accomplice.
  • Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever.
  • Loss or damage due to faults or defects existing at the time of commencement of this insurance.
  • Loss or damage due to Cracking, Scratching, Denting and Chipping.
  • Loss or damage due to defects in design, material or workmanship or otherwise for which the manufacturer or supplier of the insured items is responsible either by law or under contract or any amount recoverable under the terms of maintenance agreement.
  • Loss, damage and/or liability caused by or arising out of the willful/unlawful act/conduct/neglect or gross negligence of you or any person acting on your behalf.
  • Radioactive contamination.
  • Any expenses, consequential loss, legal liability or any loss or damage to items directly caused by or contributed to by ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
  • The radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.
  • Loss, destruction, damage, liability or expenses whether directly or indirectly occasioned by or happening through or arising from any consequences of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, mutiny, rebellion, revolution, insurrection or military or usurped power, civil commotion, loot, pillage, seizure, capture, arrests, restraints & detainment.
  • Loss or damage by pressure waves caused by aircraft or other aerial devices travelling at sonic or supersonic speeds.
  • Loss, destruction or damage caused to the insured property by seepage, pollution or contamination irrespective of however been caused.
  • Loss or damage to items of consumable nature.
  • Any kind of loss or damage to data, software or any kind of programming or instruction set.
  • Loss or damage to contents by wear and tear, depreciation, insects, vermin, rodents, pets, animals, moth, fungus, pests, insects or mildew, corrosion, rust, atmospheric or climatic conditions, ingress of water, gradually operating cause, process or cleaning, restoring, renovation dyeing, repair, alteration.
  • Cost of transport to the repair shop and back to the Insured Premises of any insured item arising out of any damage to such item.
  • Loss or damage caused by or arising out of or traceable to erection, repairing or dismantling of the insured apparatus ( not applicable in respect of contents and appliances section under Platinum & Diamond plans)
  • Loss of earnings, loss by delay, loss of market, loss of sentimental value or other consequential or indirect loss or damage of any kind or description whatsoever.
  • Loss, destruction or damage caused to the property insured by burning by order of any Public Authority.
  • Permanent or temporary dispossession resulting from confiscation, commandeering, requisition or destruction by order of the Government or any lawfully constituted Authority.
  • Loss of originality and / or depreciation following repair.
 

Excess amount applicable:

Excess applicable in respect of every section shall be the amount specified in the below-mentioned table. In respect of loss or damage arising out of a single incident to multiple items covered under a single section, the excess amount shall be applicable on the item with the highest value only and not to each and every item.
 
Coverage Excess (each and every claim)
Household Contents 1% of SI (per item limit) subject to a maximum of Rs.10000
Household Appliances 1% of SI (per item limit)subject to a maximum of Rs.10000
All risks for Jewellery & Valuables 1% of SI (per item limit)subject to a maximum of Rs.10000
Third Party Liability (excluding liability arising out of motor vehicles) 1% of SI (per item limit)subject to a maximum of Rs.10000
Mobile Equipment’s 2.5% of SI (per item limit)subject to a maximum of Rs.10000/-
Baggage insurance 5% of SI (per item limit) subject to a maximum of Rs.10000/-
Solar water heater (Upto a Maximum of 500 litre capacity only) Rs.5000/- for sum insured up to Rs.5 lac and Rs.7500/- for sum insured exceeding Rs.5 lac (for breakdown double the excess)
Water treatment plant (Covers Motor & Pump only) Rs.5000/- for sum insured up to Rs.5 lac and Rs.7500/- for sum insured exceeding Rs.5 lac (for breakdown double the excess)
DG Set (upto 5 KVA Only) 2.5% of sum insured
Temporary Resettlement First Rs.250/- arising out of each and every claim
Loss of Cash First Rs.250/- arising out of each and every claim
Personal Accident Nil
Employees Compensation Nil
Terrorism 1% of the claim amount for each and every claim subject to Minimum of INR 10,000 and Maximum of INR 500,000
 

Premium Example:

  Contents si - gold plan Premium for 1 year(Rs) Premium for 3 years(Rs)
Contents 1200000 3360 10080
Appliances 1400000 7140 21420
Jewelry & Valuables 1000000 8000 24000
Third party liability 600000 300 900
Mobile equipmentts 500000 5000 15000
Baggage 500000 3750 11250
External equipments 500000 10000 30000
Temporary resettlement 25000 15 45
Loss of cash 15000 150 450
Total 5740000 37715 113145
Loading for waiver of per item limit. (only for content, appliances, jewelry and mobile equipment's sections)   2360 7080
Premium after loading     120225
Tenure discount @ 15%     18034
Pemium post discount     102191
service tax     15329
Final premium to be paid     117520
 

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