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Flood-Related queries on Home Insurance Cover Royal Sundaram HomeShield Classic covers all eventualities

11 August, 2005

A vast number of Mumbai's population suffered considerable damage to household property belongings like televisions, computers, refrigerators, music systems, DVD players, beds, furniture, clothing, jewellery etc articles that had been painstakingly bought over the years after measured budgeting in the relentless rains that engulfed Mumbai and neighbouring areas on July 26, 2005.

Most of the loss could have been covered through a simple householder policy issued by most general insurance companies. HomeShield Classic is a comprehensive package of insurance benefits from Royal Sundaram designed to cover contents of the home against all possible kinds of risks - fire, earthquake, terrorism, storm, flood, cyclone, burglary and breakdown of appliances.

In Mumbai, claims intimations are being received on a toll-free number (1600 345 8899) and a unique Royal Sundaram Customer Service number (9444 44 8899), as well as through Royal Sundaram's Agents and Distribution Partners. The Company has set up a quick response team, headed by a Senior Vice President, at Mumbai, which receives the intimation, appoints surveyors wherever required, and makes immediate decisions to settle the claims. Additional surveyors have been deployed for speedy service.

In order to facilitate a better understanding of its home insurance cover, Royal Sundaram has prepared a document in response to the numerous customer queries arising out of the Mumbai rains over the past 10 days:
1. I am not able to locate my policy document. Would you insist on the original policy for settling my claim?
No. We would not insist on original policy. However, the process could be easily facilitated if the policy number is available.

2. What is my coverage?
It depends on the coverage opted by you. The policy in general provides coverage for building, contents, appliances, jewellery, computers etc.

Royal Sundaram offers a variety of covers for householders it can be a simple coverage of building or a package policy, where each of the items you may wish to insure should be specifically declared or our Home Shield Classic policy, which covers your building as well as contents.Home Shield Classic Policy, you need not declare each and every item, the contents and appliances up to a fixed limit is automatically covered.
3. I have the Home Shield Classic policy. What do you cover as Contents?
Clothing, linen, furniture & fixtures, curtains, utensils and crockery will be covered under Contents with item wise sub limit.

4. I have the Home Shield Classic policy. What do you cover as Appliances? Television, Refrigerator, Washing machine, Microwave Oven, Music System, VCR/VCP, DVD Player will be covered under Appliances with item wise sub limits.
5. My electrician says my fridge is not repairable. Would you accept his version or would you insist on authorized service dealers certificate?
Our surveyor would guide you in this regard depending on the nature and extent of damage.

6. Would my claim bill be settled in full?
Subject to the sum insured being adequate, where the coverage is on Reinstatement Value basis, the entire repair cost or replacement cost would be payable. Where the coverage is not on reinstatement value basis, we would deduct a suitable amount towards depreciation, depending on the age of the property. A small amount would be deducted as excess on the loss to the contents other than building.
7. Are my food grains / kitchen articles covered?
If you have opted to cover this by specifically declaring, then these items would be covered.

8. How do we go about for an Estimation of Construction / painting?

Please obtain the estimation / quotation from suitable agency and discuss with us /surveyor the estimation should be in respect of the same features of the item damaged, and any improvement / enhancement would not be payable.

9. Will doors and windows form a part of the structure / construction?
The doors and windows will form part of the building. Hence, if the building is covered under your policy, the doors and windows will also be covered.

10. What is to be done after the surveys?
Our surveyor would leave suitable instructions in respect of repair or replacement of item damaged. Draw up your estimate of loss and hand it over to us. After repair / replacement send us your final bills.

 Where the admissible loss is more than Rs. 20,000/- we would provide you an on account assistance (where a certain percentage of the amount is initially paid and the balance is reimbursed on presentation of bills up to an allowed amount).

Note to Editors:

Royal Sundaram Alliance Insurance Limited is a joint venture between Sundaram Finance and Royal & SunAlliance, where the latter holds 26 per cent of the venture in accordance with IRDA regulations. It was the first Non-Life Insurer to be awarded a licence by IRDA.

For further information contact:

Saradamani Dey
Royal Sundaram Alliance Insurance Company Ltd.

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