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Bharat Griha Raksha Policy
Dec 11, 2023

Features And Benefits Of Bharat Griha Raksha Policy

The Bharat Griha Raksha policy is a home insurance plan designed to provide insurance coverage to the insured’s home building and home contents. If the building and/ or items insured under the plan suffer physical loss, damage, or destruction due to unexpected events during the policy period, the insurer will pay compensation as specified in the policy wordings. * The Bharat Griha Raksha home insurance policy provides protection against a host of unforeseen events that can cause havoc to one’s house and drain one’s finances. With the support of this general insurance plan, one can enjoy better peace of mind, knowing that their finances are secured and that their home is covered against multiple unfortunate events. * Claims are subject to terms and conditions set forth under commercial insurance policy. How exactly does the Bharat Griha Raksha home insurance policy help the policyholder? Let’s understand.

Features and Benefits of the Bharat Griha Raksha Policy

Before opting for any plan, one must know the essential points regarding it. Here is a list of the same for the Bharat Griha Raksha home insurance policy:
  1. The policy provides home building cover *

The policy covers physical loss, damage, or destruction to the insured’s home building due to any insured event as listed in the policy. By home building, the policy refers to the building consisting of a residential unit, having an enclosed structure and a roof, basement, and used as a dwelling place. Additional structures within the home building may also be covered as specified in the policy schedule. The fees for the architect, surveyor, and consulting engineer, as well as the cost of removing debris, loss of rent (if applicable), and rent for alternative accommodation, are also covered as described in the concerned clauses of the Bharat Griha Raksha policy. Claims are subject to terms and conditions set forth under commercial insurance policy.
  1. The policy provides coverage for home contents *

If any physical loss or damage to, or destruction of, the general contents of the home occurs due to an insured event, then the cost for the same will be covered up to the limits specified in the policy. Certain valuable items are not covered under this policy unless an optional cover for the same has been opted for by the policyholder. Claims are subject to terms and conditions set forth under commercial insurance policy.
  1. Additional covers are also available with the policy *

There are optional covers as well as add-ons available if the insured wishes to increase their financial protection. Let’s look at them: Optional covers  Under this, one can opt for the following:
  1. Cover for valuable contents on agreed value basis (available under home contents cover) - Here, a value may be agreed upon by the policyholder and the insurer for certain valuable contents based on vital documentation. If such valuable contents are damaged or suffer a total loss, the compensation shall be paid, subject to limits stated in the policy.
  2. Personal accident cover : If an event or an insured peril has caused damage to the policyholder’s home building cover and/ or home contents and also causes an unfortunate demise of the policyholder or their spouse, adequate compensation shall be paid. The compensation shall be as specified in the policy.
If the insured passes away, the PA cover under this general insurance policy shall continue for the spouse until the policy expires. Add-ons  The policyholder can opt for increased financial protection by choosing add-ons available within the policy’s scope and offered by the insurer. If you opt for add-ons, the details for the same shall be available in the policy document. Claims are subject to terms and conditions set forth under commercial insurance policy.
  1. Multiple events are covered under the policy *

Now that one may be clear on what is covered under the Bharat Griha Raksha policy, let’s look at the events against which the coverage is applicable. Some events covered include:
  1. Fire, explosion and implosion
  2. Lightning, earthquake, volcanic eruption, or other such convulsions of nature
  3. Storm, cyclone, typhoon, tempest, hurricane, tornado, flood, and inundation
  4. Subsidence of the land on which the home building stands, landslide, and rockslide
  5. Bush fire, forest fire, and jungle fire
  6. Impact damage of the kind, i.e., damages caused due to impact of, or collision caused by external physical objects as specified in the policy
  7. Missile testing operations
  8. Riots, strikes, malicious damages, and acts of terrorism (as per the terrorism clause of the policy)
  9. Bursting or overflowing of water tanks, pipes, and apparatus
  10. Leakage from automatic sprinkler installations
  11. Theft within 7 days from the occurrence of, and as a result of the above insured events.
Claims are subject to terms and conditions set forth under commercial insurance policy.

Important Points to Note About the Bharat Griha Raksha Policy

All coverages and events are subject to terms and conditions. Each coverage may have its own set of terms, conditions, and exclusions. Furthermore, general conditions and exclusions of the policy shall also be applicable. Bharat Griha Raksha is an MSME insurance plan that can provide comprehensive protection to one’s property. It is advised to consult an insurance expert before proceeding.   * Standard T&C apply. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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