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My Home Insurance Policy

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What’s in it for you?

 Covers your home against loss from fire, burglary and natural calamities

Cover for jewellery, valuables, works of art

Coverage term options from 1 day to 5 years

Why Bajaj Allianz My Home Insurance?

Home is where your heart belongs. Your house is the centre 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.

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 ‘portable equipment’ anywhere in India. This cover can be extended globally by paying an additional premium.

  • Jewellery and valuables cover

    This policy covers accidental loss or damage to ‘jewellery 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 ‘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, jewellery 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’t 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 jewellery and other valuables.

Watch this video to know more about our My Home Insurance policy.

To register the claim

1)  Surveyor is appointment and conducts a visit for loss assessments

2)  The claim is registered in our system and a claim number is issued to the customer

3)  A survey is conducted within 48-72 hours (case to case basis) and a list of required documents is provided is to the customer. The customer then has 7-15 working days to arrange the same.

4)  After the receipt of documents, the loss adjuster submits the report to Bajaj Allianz General Insurance Company

5)  On the receipt of the report and documents, the claim is processed within 7-10 days(depending of type of loss) via NEFT

Click here to register your claim online.

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LET’S SIMPLIFY HOME INSURANCE, SHALL WE?

Who is eligible to buy My Home insurance policy?

My Home Insurance policy is applicable for all as follows:

A) Homeowners who own a property that is not more than 30 years old can purchase our My Home Insurance policy.

B) Tenants living in a rented accommodation, as well as others who do not have home ownership, can insure their contents of the property occupied by them.

How to assess the value of my home structure and its contents?

It is important to assess the value of your home structure and its contents properly before purchasing a house insurance policy, just to make sure that you are not under or over insured. This could affect the claim amount in case of a loss, or you might end up paying more premium then what you are supposed to pay. To simplify the value assessment process, we have broken down the factors into three different basis for structure, and two different basis for content which you can choose from, as per your requirement:

Agreed value basis: You can cover the structure of your property on the value agreed upon with us that could be higher than the market value. This is applicable only for structure and not content.

Reinstatement basis: If you decide to purchase the home insurance policy under reinstatement value basis, there will be no depreciation imposed at the time of claim and you will be paid the total cost of replacement depending on the sum insured. This is applicable only for structure and not content.

Indemnity value basis: Indemnity value basis, commonly known as market value basis is a method used to insure structure that considers the depreciation amount as per the age of the building, at the time of claim. This method can also be applied when insuring content.

New for old basis: When this method is chosen for insuring content, the item damaged beyond repair will be replaced with a new one or we will pay out the cost for replacement of the item in full, regardless of its age. 

What is My Home Insurance?

Your dream home deserves to be protected. Our My Home Insurance policy is a very affordable financial tool designed to cover your home and its contents against natural and man-made calamities such as earthquakes, floods, fire, theft, burglaries and any other risks it might be prone to.

What is property insurance?

Property insurance is a policy offered to homeowners who wish to cover their property structure as well as its contents, which will protect them against financial losses caused due to incidents such as fire, burglary, flood, theft, etc. You can also cover only the contents of the house that you have rented for living purpose.

What are the exclusions under My Home insurance policy?

Bajaj Allianz My Home insurance policy covers several perils due to which damages can be caused to your property and its contents. However, there are certain conditions under which they cannot be covered such as pre-existing damages to the structure and content, defective workmanship, manufacturing defects in mechanical and electrical items, improper handling of contents, loss or damage directly or indirectly in consequence of war, invasion or act of foreign enemy hostilities, mysterious disappearance and unexplained losses, and loss or damage to the insured property or to the general public arising out of immoral or unethical use.

What losses are covered under My Home insurance policy?

My Home Insurance policy covers you against any losses to your property and/or content from all risks, predominately covering fire, burglary, theft, accidental damage and natural calamities. You also get coverage for the works of art, jewellery and other valuable items in your home. If your property is unlivable for a certain period due to any of the perils mentioned above and it needs repairs, you will get the benefit of renting an alternative accommodation until the property is fixed again.

What are the documents needed to file a claim for My Home Insurance?

The documents needed for home insurance claims depends on the peril due to which the damage was caused since that can be presented as evidence. If there was a fire, you would need to present a fire brigade report along with the claim form duly filled and signed, whereas, if there was a theft, an FIR would need to be lodged and its details should be provided to us. In any case, the claim form is required to process the claim.

How do I calculate my sum insured?

You can calculate the sum insured for your home and its contents either on an agreed value basis, reinstatement basis or an indemnity basis.

Can I increase my sum insured (SI)?

Yes, you may increase the sum insured for your home during the tenure of the policy by opting for an escalation clause at an extra premium not exceeding 25%. For example, the SI is Rs 10 lakh and you opt for an escalation clause of 25%. The SI increases day by day and on the last day of the policy, the SI will be Rs 12.5 lakh.

Note: Escalation clause is available only on building SI chosen on the basis of reinstatement and indemnity basis.

How do I cover jewellery, curios and works of art?

The sum insured for jewellery, curios and works of art shall be decided based on the valuation of the items be done by a government-approved valuer and approved by us.

Can I cover curios if I travel with them?

No, curios can only be covered when they are stored or present in your building.

Can I cover my entire building or society under My Home Insurance policy?

No, an entire society or building cannot be covered under My Home Insurance plan.

What is the type of properties that aren’t usually covered by home insurance policies?

The following type of properties are not covered under our My Home Insurance policy:

·         Under construction property

·         Land and plots

·         Shops and other commercial spaces

·         ‘Kutcha’ constructions

·         Residences that also double up as offices and vice-versa

Our happy customers!

Radha Ganesan

It was good experience with sales manager while purchasing the product.

KARTHIK S

Sales executive was very informative, suggested the best policy for my home. Excellent support received.

RATTAN KOTWAL

Very Efficient service and back-up of Home Insurance.

Securing your house is just a click away.

Customise your policy for total protection

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 cover

In 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.

Temporary resettlement cover

In case your house gets destroyed due to some incident such as fire, floods, etc and you need to move to an alternate accommodation, we will indemnify you for the transport and packing costs.

Key and lock replacement cover

If 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 cover

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

Lost wallet cover

If 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 cover

This cover will protect you from the cost of medical expenses for any diseases or accidents your pet may contract during the insurance period.

Public liability cover

If 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 cover

In case an employee meets with an accident and gets injured during his employment period, he will be compensated for it.

All you need you know about My Home Insurance coverage

Important points to note before buying my home insurance

  • Inclusions
  • Exclusions

Loss or damage to building

We will indemnify you in respect of the accidental loss or damage to building based on the plan selected by you.

Loss or damage to content

You 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

Loss or damage to portable equipment anywhere in India

We 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

Loss or damage to jewellery and valuables

 We will indemnify you in respect of the accidental loss or damage to jewellery and valuables anywhere in India. However, on payment of additional home insurance premium, the coverage for jewellery and valuables may be extended to worldwide

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 

Read more

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

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Voluntary deductibles, as mentioned in the policy, will have to be borne by you

Any misrepresentation or non-disclosure of information is not encouraged

Pre-existing damages (to building or its contents) will not find a place in our coverage checklist

Should the building sustain damages, as a result of structural defects or poor workmanship, we will not be able to help you out

Should the contents sustain damages resulting from depreciation, natural wear and tear or one

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

Manufacturing defects in electronic, electrical and mechanical items are the manufacturer’s fault

Consumable articles and goods will sustain damages over time. We suggest you take them in your stride

If you wish to go ahead with any modification or alteration that is not approved by the

If you wish to go ahead with any modification or alteration that is not approved by the manufacturer, don’t forget to factor in the risks because we wouldn’t be able to help

Breakage, cracking or other internal damages of portable equipment

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

Damages and losses to money, securities, business documents, manuscript and debit/credit

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

You take the expensive artefact in your hands to give it a long, hard look.

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

Mysterious disappearance and unexplained losses are baffling. Even to us. Reason why our coverage will not kick in

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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)

On Reinstatement Value Basis
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 – 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 Jewellery and Valuables
For jewellery 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.

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 jewellery. 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 jewellery, works of art, paintings, curios and other personal valuables under a single cover.

That’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. That’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 jewellery, 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, jewellery, 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. 

My Home Insurance BUILDING INSURANCE (STRUCTURE)
Agreed Value Basis
(Flat/ Apartment)
Reinstatement Value Basis
(Flat / Apartment / Independent Building)
Indemnity Basis
(Flat / Apartment / Independent Building)
CONTENTS INCLUDING PORTABLE EQUIPMENTS New For Old Basis (Excluding Jewellery and Valuables, Painting, Works of Arts and Curios) PLATINUM PLAN -I
Flat/Apartment Insurance - Agreed Value Basis + Contents - New For Old
DIAMOND PLAN -I
Flat/Apartment/Building- Reinstatement Value Basis + Contents - New for Old Basis
GOLD PLAN -I
Flat/Apartment/Building - Indemnity Basis + Contents- New for Old Basis
Indemnity Basis (Excluding Jewellery and Valuables, Painting, Works of Arts and Curios) PLATINUM PLAN -II
Flat/Apartment Insurance - Agreed Value Basis + Contents - Indemnity Basis
DIAMOND PLAN -II
Flat/Apartment/Building - Reinstatement Value Basis + Contents - Indemnity Basis
GOLD PLAN -II
Flat/Apartment/Building - Indemnity Basis + Contents - Indemnity Basis
Portable Equipments Coverage Inbuilt Coverage : India Coverage Extension On Payment of Additional Premium :Worldwide
JEWELLERY, VALUABLES, CURIOS Etc. Jewellery, Valuable, Curios, Paintings & Work of Arts For Jewellery & Valuables: Inbuilt Coverage : India Coverage Extension On Payment of Additional Premium :Worldwide
ADDITIONAL BENEFIT Rent for Alternate Accommodation and Brokerage i) Rent for Alternate Accommodation
a) 0.5% of the Flat/Apartment Sum Insured or
b) Actual Rent whichever of (a) and (b) is less subject to a maximum of Rs.50,000 per month, for the period until the Completion of Reconstruction or 24 months whichever is less
ii) Actual Brokerage payable not exceeding one month rent
i) Rent for Alternate Accommodation
a) 0.3% of the Flat/Apartment Sum Insured or
b) Actual Rent including Brokerage whichever of (a) and (b) is less subject to a maximum of Rs.35,000 per month, for the period until the completion of Reconstruction or 24 months whichever is less
ii) Actual Brokerage payable not exceeding one month rent
-
Emergency Purchases Rs.20,000 or actual amount whichever is lower  
NOTE Options To Insure Insured has the Option to insure either Flat/Apartment/Independent Building Only OR Contents Only OR Both.
POLICY PERIOD Options For Policy Period i) Short Term Policy up to 15/30/60/90/120/150/180/210/240/270 days
ii) Annual Policy of 1 Year/2 Years/3 Years/4 Years/5 Years
(Note: For all policies Policy Period for all opted covers shall be identical)
ADD ON COVERS Add On Cover For All Plans 1) LOSS OF RENT
2) TEMPORARY RESETTLEMENT COVER
3) KEYS & LOCKS REPLACEMENT COVER
4) ATM WITHDRAWAL ROBBERY COVER
5) LOST WALLET COVER
6) DOG INSURANCE COVER
7) PUBLIC LIABILITY COVER
8) EMPLOYEE'S COMPENSATION COVER
Standalone Cover for Jewellery & Valuables and / or Curios, Paintings & Work of Arts cannot be Opted unless Contents are Insured.

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Customer Stories

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NISHANT KUMAR

Easy and hassle free, convenient way to buy home insurance online.

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RAVI PUTREVU

Very professional, fast and simple claim process of home insurance!

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PRAKHAR GUPTA

I had a word with Bajaj Allianz executive and he explained me everything about the Home insurance which is appreciated.

Thank You for Your Interest in Bajaj Allianz Insurance Policy, A Customer Support Excecutive will call you back shortly to assist you through the Process.

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I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

Disclaimer

I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

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