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Household Appliances

Household Appliances
 

Policy Tenure from 1 to 3 years.

Items covered:

 
Under all plans:
 
Appliances would mean the following appliances kept in the insured’s premises.
Group I
Television (any type)
Refrigerator
Washing Machine
Geyser
Microwave Oven
Group II
Music System
VCR/VCP, DVD Player
Vacuum Cleaner  
Mixer grinder
Food Processor 
Electric chimney
Dish washer
UPS (including batteries)
Home Theatre system
Inverter (including batteries)
Group III
Air conditioner, Air cooler
Personal Computer, Internet Equipment’s (modem, router, Wi-Fi) and equipment’s like printer, faxes, scanner etc.)
Sports / Fitness  equipment & gear / Sauna & Spa equipment
 
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Sports Equipment and Gear would mean and include any equipment related to Tennis, Badminton, Soccer, Hockey, Cricket, Billiards, Table Tennis & Golf only.
Fitness equipment and gear would mean and include Gym equipment, weights etc.
 

Perils covered (Named perils) under Bronze, Silver & Gold Plans:

A)   Fire & Allied Perils.
B)   Burglary & Housebreaking including theft.
C)   Electrical and Mechanical breakdown.
 

Under Platinum and Diamond Plans:

Coverage shall be on All Risks basis subject to specific and general exclusions.
 

Important Exclusions applicable for this section:

1.Items aged more than 10 years in respect of the loss, destruction or damage due to Electrical and Mechanical breakdown.
 
2.Damage to batteries due to drain out without the operation of an insured peril is excluded.
 

Specific Conditions applicable to Appliances section:

1.  Any claim per item payable under this section shall be subject to depreciation as per the following table.
Group Minimum per item per year Maximum per item
I 10% 50%
II 20% 70%
III 10% 75%
 
2. In respect of Bronze, Silver and Gold Plans, the limit per item in respect of this section shall be restricted to the actual value or 10% of the sum insured under this section as specified in the Schedule of the policy, whichever is lower. Further, wherever waiver of per item limit has been opted by payment of additional premium and endorsed in the policy, “Limit per item” shall not apply under Silver and Gold Plans.
 
3. In respect of Bronze, Silver and Gold Plans, the maximum liability of the Company in the event of admissible claim of any one item/s following a loss or damage shall be the actual value or 10% of the sum insured under this section as specified in the Schedule of the policy, whichever is lower. Further, wherever waiver of per item limit has been opted by payment of additional premium and endorsed in the policy, “Limit per item” shall not apply under Silver and Gold Plans.
 

Basis of coverage

1.Bronze - Fixed sum insured limits. Coverage on named peril basis with depreciation and per item limit.
 
2.Silver/Gold - Named peril basis with depreciation and per item limit.
 
3.Silver/Gold - Named peril basis with depreciation and with a 10% loading on premium rates for waiver of per item limit.
 
4.Platinum - All risks basis with depreciation and without per item limit.
 
5.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)

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