My Home Insurance Policy

WHY BAJAJ ALLIANZ MY HOME INSURANCE?

Home is where your heart belongs. Your house is the center of your world, a priceless investment and a vault for a thousand memories, all bundled into one. This makes your home an unrivalled asset. However, there could be times when your abode would be vulnerable to many a risk and contingency.
At Bajaj Allianz, we understand the need to safeguard your home and have accordingly come up with the unique My Home Insurance All Risk Policy that is specially designed to provide formidable coverage to your house, the contents inside it and other valuables.

As your preferred home insurance solutions provider, protecting your home is our priority. And that is why; we bring you the simple yet extensive insurance cover you deserve that is also affordable at the same time.

What about renewal?

Renewing your home insurance policy is a necessity, for this simple step of yours will restore the sum insured and kickstart comprehensive coverage all over again. However, it s good to know the little nitty gritty of it.

At Bajaj Allianz, our renewal process is convenience redefined. However, we retain the right to refuse a renewal on grounds of moral hazard, misrepresentation or fraud.

[Policy Information]

WE OFFER A WHOLE LOT WHEN IT COMES TO MY HOME INSURANCE POLICY

KEY FEATURES
My Home Insurance policy is applicable for all home owners, landlords, and tenants of a rented house with its range of features:

Contents cover:
This policy covers loss/damage to your furniture and fixtures, electronic items, kitchen items, clothing and personal belongings as well as other products that you have insured.

Portable equipment cover:
This policy covers any accidental loss or damage to ÃÆ'Æ'Æ'ÃÆ'‚¢ÃÆ'Æ'¢ÃÆ'¢â‚¬Å¡ÃÆ'‚¬ÃÆ'Æ'‹ÃÆ'…“portable equipment anywhere in India. This cover can be extended globally by paying an additional premium.

Jewelry and valuables cover:
This policy covers accidental loss or damage to jewelry and valuables. anywhere in India. This cover can be extended globally by paying an additional premium.

Curios, works of art and paintings cover:
This policy covers accidental loss or damage to ÃÆ'Æ'Æ'ÃÆ'‚¢ÃÆ'Æ'¢ÃÆ'¢â‚¬Å¡ÃÆ'‚¬ÃÆ'Æ'‹ÃÆ'…“curios, works of art and paintings whilst stored or lying in your building. The valuation of the items will be done by a government-approved valuer and approved by us.

Burglary cover:
This policy covers your home against loss from burglary and theft.

Building Cover:
Damages to your building (be it an apartment or a standalone building), contents, jewelry and valuables can be very unsettling. Besides, should you have a flair for art and painting, any loss in this regard can leave a bad taste in your mouth as well. As much as we would be sorry for your loss, we want to assure you that we have got your back so that you don have to bear the brunt alone.
Our building cover also covers you for emergency purchases of food, clothing, medicines and daily essentials worth up to Rs. 20,000/-.

Worldwide Cover:
We will provide extensive coverage within India and try to minimize your losses to the best of our abilities. Upon payment of a nominally higher premium, we will be happy to extend you Worldwide Coverage for portable equipment jewelry and other valuables.

GET ADDITIONAL PROTECTION FOR YOUR HOME AND ITS CONTENTS WITH OUR WIDE RANGE OF ADD ON COVERS
Your Home Is Special And We Want To Add Value To Its Protection With Our Various Add-On Covers:

Loss Of Rent CoverIn case your rental property gets destroyed due to some peril, and your tenant vacates it for which you stop receiving the rent, we will compensate you for the amount lost till the time the property remains unfit to live in.

Key And Lock Replacement CoverIf your house is broken into, or the keys of your house or vehicle get stolen, we will reimburse the expenses of the locksmith.

Atm Withdrawal Robbery CoverIn case you get robbed right after you withdraw money from the ATM, we will compensate you for the amount lost due to the robbery.

Loss Wallet CoverIf your wallet gets lost or stolen, we will pay you the replacement cost for it as well as the cost of application for lost papers and cards that were present in the wallet.

Dog Insurance CoverIf your pet dog dies due to accident and/or diseases contracted during the period of insurance, we will pay you the fixed amount for your loss.

Public Liability CoverIf you use or occupy a place for residential purposes, and someone gets injured or their property gets damaged, public liability cover will pay the cost that may be incurred to fix those damages.

Employee's Compensation CoverIn case an employee meets with an accident and gets injured during his employment period, he will be compensated for it.

[IMPORTANT POINTS TO NOTE BEFORE BUYING MY HOME INSURANCE]

INCLUSIONS

1. Loss or damage to buildingWe will indemnify you in respect of
the accidental loss or damage to building based on the plan selected by
you.
2. Loss or damage to contentYou will be compensated in case of
loss/damage to your furniture and fixtures, electronic items, kitchen
items, clothing and personal belongings as well as other products, which
you have insured at the time of purchasing the policy
3. Loss or damage to portable equipment anywhere in IndiaWe will
indemnify you in respect of the accidental loss or damage to portable
equipment anywhere in India. However, on payment of additional home
insurance premium, the coverage for portable equipment may be
extended to worldwide
4. Loss or damage to jewelry and valuablesWe will indemnify you in
respect of the accidental loss or damage to jewelry and valuables
anywhere in India. However, on payment of additional home insurance
premium, the coverage for jewelry and valuables may be extended to
worldwide
5. Loss of or damage to "curios, works of art and paintings" whilst
stored or lying in your
Building
We will indemnify you in respect of the accidental loss or damage to curios, works of art and paintings whilst stored or lying in your building. The valuation of the same shall be done by the government approved value and approved by us

EXCLUSIONS

1. Voluntary deductibles, as mentioned in the policy, will have to be borne
by you
2. Any misrepresentation or non-disclosure of information is not
encouraged
3. Pre-existing damages (to building or its contents) will not find a place in
our coverage checklist
4. Should the building sustain damages, as a result of structural defects or
poor workmanship, we will not be able to help you out
5. Should the contents sustain damages resulting from depreciation,
natural wear and tear or one that is caused by human activity (careless
handling, defective workmanship and the likes), we will not be able to
entertain your claim
6. Manufacturing defects in electronic, electrical and mechanical items are
the manufacturerÃÆ'¢â‚¬â„¢s fault
7. Consumable articles and goods will sustain damages over time. We
suggest you take them in your stride
8. If you wish to go ahead with any modification or alteration that is not
approved by the manufacturer, donÃÆ'¢â‚¬â„¢t forget to factor in the risks
because we wouldnÃÆ'¢â‚¬â„¢t be able to help
9. Breakage, cracking or other internal damages of portable equipment
(watches, glass, cameras, crockery, musical instruments) will not be
covered by the All Risk Insurance Policy
10. Damages and losses to money, securities, business documents,
manuscript and debit/credit cards can be very unsettling. As much as
we feel for you, we will not be able to cover you
11. You take the expensive artefact in your hands to give it a long, hard
look. However a split second later, it falls from your hands and breaks
into pieces. We all have been there, and we feel your agony. But we
will not be able to do much. Actually, nothing at all
12. Mysterious disappearance and unexplained losses are baffling. Even to
us. Reason why our coverage will not kick in

[Know your sum insured]

Sum Insured for Building
On Agreed Value Basis
Sum Insured = Total sq. feet (as mentioned in the Sale Deed) * Price/sq. feet (for specified location)

Sum Insured = Total sq. feet (as mentioned in the Sale Deed) * Price/sq. feet (for specified location)
Area of the building (sq. feet) * Present day cost of construction in the locality * (1+Escalation % chosen)

On Indemnity Value Basis Area of the building (sq. feet) * Present day cost of construction in the locality * (1+Escalation % chosen) * (1 ÃÆ'¢â‚¬â€œ Depreciation at 2.5% P.A x Age of building, with final depreciation rate not exceeding 70% in aggregate).

Sum Insured for Contents
On New for Old Basis
This represents Replacement Value of insured items by a new item of same kind and capacity (without allowance for wear and tear, and depreciation)

On Indemnity Basis
This figure is based on the Replacement Value of insured items as New (without allowance for modification, wear and tear, and depreciation).

Sum Insured for Jewelry and Valuables
For jewelry and valuables that are valued up to Rs. 2 lakh 50 thousand for Gold Plan, Rs. 5 lakh for Diamond Plan, and Rs. 10 lakh for Platinum Plan, you will have to provide a list of the items with full description and market value.

You will have to furnish a valuation report from the valuer that has been approved by Bajaj Allianz. Sum Insured will be on two bases: Full sum insured and loss limit basis.
Loss limit options include:
1. 25% of total sum insured
2. 40% of total sum insured

Sum Insured for works of art, painting and curios
Sum insured will be on Agreed Value Basis, based on valuation report from the valuer that has been approved by Bajaj Allianz.

What sets us apart?
Amid a range of other policies that are doing the rounds in the market, there are features to our policy that set us apart from our peers and rivals alike. After all, your need for safety (read insurance) is our command.
* My Home Insurance All Risk Policy provides coverage to your house, and
the contents inside it that you deem valuable for a period.
* You may have a penchant for jewelry. Or maybe you are an art
aficionado. Whatever the need, we have got you covered through thick
and thin. With our All Risk Insurance Policy, get coverage for your jewelry,
works of art, paintings, curios and other personal valuables under a
single cover.
ThatÃÆ'¢â‚¬â„¢s because insuring them preserves your legacy for the next
generation.
* Over a period of time your home takes on a distinct identity that reflects
your taste and personality. Choosing to protect one household item
over the other can become a difficult proposition. ThatÃÆ'¢â‚¬â„¢s why we do not
ask for a list of contents from you, in case the sum insured exceeds Rs. 5
lakh.
* Travel might suddenly feature on your priority list, be it for business or
leisure. We know how unnerving it can be if you lose or end up
damaging precious valuables or equipment. The agony just piles faster
if the damage is caused while you are still on foreign shores. Keeping
this thought in mind, we have designed our policy to provide worldwide
coverage for your jewelry, valuables and portable equipment upon
payment of a nominally higher premium.

So the next time you think of travel, think of Bajaj Allianz.

* We will restore the entire sum insured for contents in a policy year it
gets exhausted because of a claim. All you need to do is let us know. We
will take care of the rest.
* Should your contents, jewelry, paintings, works of art, curios and other
valuables have been insured for less than their true value on Agreed
Value Basis, we will be happy to waive off the Condition of Average.

We love to go the extra mile to secure your belongings!
Our All Risk Policy is tailored to suit your needs. Exactly why you can sign up for it for anywhere between a day to 5 years.