| 1. What does Householders Policy cover for me? |
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| 2. Group Discounts and General Exclusions |
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| 1. Fire & Allied Perils: |
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Fire can cause heavy damages, which can affect your finances. We
provide a policy which covers dangers such as:-
- Building and contents.
- Fire, Lightning, Explosion/Implosion, Aircraft damage, damage
from rail/road, vehicle or animal, Riot/Strike, Storm, Cyclone, Flood,
Earthquake, Landslide including rock slide, Missile testing
operations, Leakage from automated sprinkler installations and
bush fire
- The sum insured (Value denoted for insurance) can be either on:-
- REINSTATEMENT VALUE basis (Which is the value for replacing
the item with a new item of same type and make). At the time of
loss the claim will be settled without applying depreciation. In
effect you will be getting new for old
- MARKET VALUE basis (Which is the reinstatement value less
depreciation depending on the age of the item). At the time of
loss, the claim will be settled after applying depreciation
- Electronic equipments/TV etc. which you wish to cover under
the respective section need not to be insured under this section
- For wall units and similar furniture, which are fixed to the walls,
the sum insured to be included in the value of the building, if the
building is insured
Exclusion:-
- 5% of the claim amount for every claim arising out of Act of God perils
- Damage due to terrorist activities
Note: Terrorism Cover Extension can be opted by paying extra premium |
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| 2. Burglary & Robbery:- |
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This policy provides you the peace of mind you need, it protects you from:- |
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- The damage caused due to housebreaking and thefts
- Protection provided on first loss basis i.e. 40% of the total value of
contents along with list of value needs
- The total sum insured should be the market value of the property
Exclusions:-
- It excludes loss of livestock, motor vehicles, pedal cycles and money
stamps (Unless specifically declared). Burglary/House breaking
where any member of the insured's family is the principal.
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| 3. Jewellery and Precious Stones:- |
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Jewellery today has become an integral part of our lives for any
occasion. We provide a policy which safeguards this asset by covering:-
Any jewellery possessed by the insured.
Valuation Certificate is required:-
- If the value of individual item in this section exceeds 10% of the sum
insured or otherwise liability shall be restricted to 10% of the sum
insured
- If the sum insured is Rs. 5 lacs or more or where the value of the
individual item exceeds Rs. 5,000/-
Exclusion on loss or damage caused to / from:-
- Crackling, scratching or breakage of lens, glass, gramophone
records or other items of fragile nature
- Car, except from a fully enclosed saloon car having all doors, windows
and other opening securely locked and fastened
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| 4. Plate Glass:- |
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When any fragile items like fixed plate glass, get damaged during the
policy period. We cover it against:-
- The accidental breakage but the details of plate glass along with the
value is to be provided
Exclusions:-
- Breakage during removal, alterations or repairs on the insured
premises
- Disfiguration, scratching or damage of glass other than fracture
extending through the entire thickness of the glass
- Breakage of glass is not completely and securely fixed
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| 5. Domestic Appliances:- |
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Breakdown of any domestic appliance or equipment can hinder in the
running of your day to day life. This policy covers the following:
- Air conditioners; refrigerators can be covered against, accidental
electrical or mechanical breakdown. The list and values of items to be
covered should be indicated
- Losses, which can be repaired, will be settled by paying the repair cost
without applying any depreciation. For total losses, depreciation, at
the rate of 10% per year up to a maximum of 50% will be applied
depending on the age of the item
- Items more than 10 years old will not be insured
Exclusions on loss or damage for the following:-
- Willful act or gross negligence of the insured
- For which manufacturer or supplier is responsible
- Caused due to wear and tear
- Mobile phones or similar communication devices
The Insured shall bear 1% of the sub-limit of the Sum Assured, against
the Domestic Appliance, or Rs. 50/-, whichever is higher, in respect of
every claim |
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| 6. Electronic Equipment:- |
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You can insure your Computer, TV and VCR against all risks of
breakdown under this policy.
- Sum insured is to be on reinstatement value basis
- Losses, which can be repaired, will be settled by paying the repair cost
without applying any depreciation. For total losses, depreciation at
the rate of 10% per year up to a maximum of 50% will applied
depending on the age of item
- Depending on the item, a deductible is applicable for every claim
- Third party liability arising out of use of TV is also covered under this section
- Please do not insure any item which is more than 10 years old
Note: Exclusion on loss or damage for the following:-
- Manufacturers or suppliers are responsible for
- Resulting due to wear and tear, gradual deterioration, Climatic
conditions, rust, corrosion and insects
- Costs incurred in connection with functional failures due to willful act
or gross negligence of the insured
- Pre-existing faults within the knowledge of the insured
- Any loss due to terrorist activities
- The Insured shall bear the first 10% or Rs. 2,500/- (Whichever is
higher) for claim concerning computers
- And the first 10% or Rs. 500/- (Whichever is higher) for claim
concerning any other item of Electronic Equipment
- Terrorism Cover Extension can be availed by paying extra premium
against terrorist damages
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| 7. Pedal Cycles:- |
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Pedal cycles are commonly found on the road and also exposed to
maximum risk due to constant accidents. This policy offers you the
following benefits:-
- Pedal cycles can be insured against all risks subject to standard
exclusions
- Third party liability, arising out of the use of pedal cycle is also
covered
Exclusions:-
- Any accident or loss caused in connection with pedal cycle used for
hire outside India
- Damage to accessories by theft if Pedal cycle is stolen at the same time.
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| 8. Baggage Insurance:- |
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The current lifestyle includes a lot of touring but there is always a strong
possibility of losing your baggage during your travel. Now you can
enjoy your tour peacefully as the policy pays you, in respect of any loss
regarding your baggage while on holiday / tour
Exclusions:-
- The policy doesn't cover theft from car except from fully enclosed
saloon cars having all the doors, windows and other opening securely
locked
- Loss to money securities, gold and silver ornaments, travel tickets,
cheque, share certificates and articles of consumable nature
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| 9. Personal Accident Insurance:- |
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Accidents are sudden and often result in large financial implications.
Our policy makes provisions to protect such losses by covering:-
- You and your family members under this section. Details of each person along with the amount insured for them has to be mentioned
- Amount insured is restricted to 60 times the monthly income. For non
working spouse and children above 18, insurance is limited to
Rs. 1 lac and for children below 18 its limited to Rs. 50,000/-
- In case of unfortunate event of Permanent Disability as explained in
the schedule, 125% of the amount insured will be given
Temporary Disability Benefits: In case of complete inability to
engage in your employment for a temporary period, the company
will pay 1% of the amount insured or Rs. 5,000/- which ever is lower
per week up to a maximum of 100 weeks. For non-working spouse,
this will be restricted to Rs. 1,000/- per week and for children this
extension is not available.
Permanent Partial Disability: In the event of accidental bodily
injury causing permanent partial disability within 12 months of the
accident, the following benefits will be given:-
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PPD Table(%) |
| An arm at the shoulder joint |
70 |
| An arm above the elbow joint |
65 |
| An arm beneath the elbow joint |
60 |
| A hand at the wrist |
55 |
| A thumb |
20 |
| An index finger |
10 |
| Any other finger |
5 |
| A leg above the mid-thigh |
70 |
| A leg upto mid-thigh |
60 |
| A leg upto beneath the knee |
50 |
| A leg upto mid-calf |
45 |
| A foot at the ankle |
40 |
| A large toe |
5 |
| Any other toe |
2 |
| An eye |
50 |
| Hearing loss in one ear |
30 |
| Hearing loss on both ears |
75 |
| Sense of smell |
10 |
| Sense of taste |
5 |
In case of additional payment of premium, you will receive:-
Hospital Confinement Allowance: In the event of an accepted claim
for accidental injury sustained by you / an insured family member,
requires immediate hospitalization, the company will pay you a daily
allowance of Rs. 1,000/- for each day the person is admitted, up to a
maximum of 30 days from the date that such accident was sustained.
Exclusion for Accidents:-
- Caused by suicide, mental dysfunction, alcoholism strokes,
epileptic fits, intentional, unlawful or criminal act, engaged in
hazardous sports, or aviation (other than as a passenger)
- Pregnancy, miscarriage, abortion, or complications arising out of
any of the foregoing VD/HIV/AIDS related illness
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| 10A) Public Liability / 10B) Workmen's Compensation:- |
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Sometimes our actions can cause injuries or property damages to
third parties. In such cases coping with the liability can result in a
large financial burden. We cover such risks.
- You are free to select the sum insured under this section up to
a maximum of Rs. 10,00,000/-
For Workmen compensation the details of the persons who are
to be insured with the annual wages to be declared.
Exclusions on liability for the following:-
- Assumed by agreement unless such liability would have attached
to the insured notwithstanding such agreement
- Arising out of deliberate or willful non-compliance
with any statutory provisions connected with fines, and penalties
- In connection with any motor vehicles, watercraft & aircraft
- Any interest imposed in connection with Workmen's
Compensation Act
- Animals, kept for commercial or agricultural purposes
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| Group Discounts:- |
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Following discounts can be given in the premium for opting more
Sections:-
Five/Six sections - 15% on all sections except Section 1
Seven or more - 20% on all sections except Section 1 |
| General Exclusions:- |
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This policy does not cover loss or damage
- Caused by war or allied perils
- Nuclear radiation and the like
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