About Building Insurance
Building shall mean Flat or Apartment used for Resedential purpose owned by the Insured located in a multi storied Building and also Independent building used for residential purposes which is not of Kutcha Construction. The Building shall include the superstructure including doors , windows, electrical and plumbing works.It does not include any fixtures and fittings and other interiors.
Plans & Premium
This building 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.
Sum Insured upto
Sum Insured between
No documentation required for a SI of up to Rs 5 crore.
Seperate lower rate for emerging affordable housing segment under Bronze Plan. ( 0.40 per mille rate for a SI up to Rs 15 lakhs)
Option to opt for Escalation Benefit (10% of increase in Sum Insured each year) OR Tenure Discount (10% to 50%) for long term policies.
Tenure from 1 to 20 years
Terrorism available as a add on cover if the tenure opted is for 1 year
Earthquake (Fire and Shock), Subsidence and Landslide including Rock slide
Building - Claim Procedure
In the event of an incident that may give rise to a claim under this Policy, You must notify the Company immediately over phone or email us at firstname.lastname@example.org or provide written intimation and shall within 14 days thereafter furnish to the Company detailed particulars of the amount of the loss or damage together with such explanation and evidence to substantiate the claim as the Company may reasonably require.
Lodge a complaint with the Police forthwith in the event of theft and Burglary and take all practicable steps to apprehend the guilty person or persons and to recover the property lost.
|Age||Above 18 years|
|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|
Ten years and above