Why one should avail Bajaj Allianz Home Insurance Plan ?
There are a number of reasons as to why one should avail Home Insurance Plans from Bajaj Allianz Insurance Company; these can be summarized as follows:
Home Insurance Plans covers the loss from burglary, fire and natural calamities.
The plans cover for jewellery, valuable art work and other valuables too.
This plan provides full guard to the property, contents (including portable equipment)and the interests of the insured individual and their family members.
All the plans comes with attractive add-ons which help to customize the plan.
Under specific plans, a benefit of renting an alternate accommodation is also applicable.
All plans comes with low cost premium under the plans with rebates.
Under this plan, one can insure flat / apartment/ building or contents only or both as well.
Various plans are there to choose.
Householders Package Plans
Its a plan which is designed to protect the house and its contents against the uncertainties and unforeseen circumstances.
Features and Benefits
The plan provides protection for properties, electronic and domestic appliances and the interests of the insured individuals together with the family members.
What is covered
Fire and Allied Perils : This includes the following:
Riots, Strike and Malicious Damage.
Storm, cyclone, Typhoon, Hurricane, Flood, Tornado, Tempest and Inundation.
Subsidence and Landslide which includes Rockslides as well.
Water Tanks, apparatus and pipes bursting or overflowing.
Leakage from Automatic Sprinkler Installations.
Exclusion: 5% of the claim amount for every claim arising out of Act of God perils.
Damage due to terrorist activities.
Burglary and Theft : This plan covers the following:
Damage due to thefts and housebreaking.
Protection on First Loss basis.
Exclusion: Loss of livestock, motor vehicles, pedal cycles and money stamps unless declared.
Burglary or housebreaking where the main person involved is ay member of the insureds family.
Jewellery and Precious Items: Here the valuation certificate is needed to cover the jewellery and the precious items.
Breakdown of Domestic Appliances : This plan covers the following:
Repair or replacement cost which occurs due to unanticipated mechanical or electrical breakdown of domestic appliances (excluding AC).
Optional Coverage which includes air conditioners are covered by payment of additional premium for Rs 10 per Rs 1000 of Sum Insured.
Exclusions are negligence on the part of the insured, loss or damage caused due to wear and tear, loss or damage for which the manufacturer or the supplier is responsible, mobile phones or similar mode of communication
Electronic Equipment : This plan covers the following:
Unanticipated Repair or replacement cost which occurs in electrical appliances by any unexpected and sudden physical loss.
Exclusions are manufacturing defect, loss or damage caused due to wear and tear, gradual deterioration, climatic conditions, rust, corrosion, cost incurred for functional failures which is the result of the negligence of the insured person.
Baggage : This plan covers the accidental loss or damage caused due to personal baggage which the insured person or his family member carries while travelling anywhere in India.
Plate Glass: This plan covers the loss of the accidental breakage of the Plate Glass which is fixed at the premises. The full details and the value of the same needs to be furnished.
Exclusions are breakage at the time of repair, alterations, or repairs, glass not fixed accurately,
Pedal Cycles: This plan covers all the related risks for the Pedal Cycles including third party liability arising out of pedal cycle is also covered.
Exclusions are any loss or damage incurred outside India. Damage to accessories by theft if the same is tolen.
Personal Accident Insurance: This plan takes care of the accidents and unforeseen circumstances resulting in huge financial loss. Details of each person together with the amount insured needs to be mentioned.
Personal Liability/ Workmens Compensation: This plan takes care of the accidents and unforeseen circumstances which occur to the third party.
One can avail Group Discount under the Householders package Plan which can be taken if one opt for more sections. For 5-6 sections it is 15% on all sections except Section 1 and 7 or more its 20% on all sections except Section 1.
No indemnity is allowed in the following situations:
Loss or damage caused due to depreciation or wear and tear.
Damage to contents of consumable nature.
Consequential loss of any kind or description.
Loss/ damage of cell phones or similar mode of communication.
Loss/ damage to valuables, jewellery or precious items.
Agreed Value Basis – For Flat/ Apartment
Under this plan, Platinum Plan I is there, where for Flat/ Apartment its upon the Agreed Value Basis + Contents – New for Old (For Contents Up to 5 years )
Under this plan, Platinum Plan II is there, where for Flat/ Apartment its upon the Agreed Value Basis + Contents – Indemnity Basis.
Portable Equipment Coverage: For India its Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
Jewellery and Valuables: For India its Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
Rent for Alternate Accommodation: its 0.5% of the Flat/ Apartment Sum Insured or the actual rent whichever is less subject to a minimum of Rs 50000/- per month for the period until the Completion of Reconstruction or 24 months whichever is less.
Options to insure: Under this plan, one can insure flat / apartment or contents only or both as well.
Policy periods can be 1 year, 2 years and 3 years.
Add On Cover under the plan is applicable will be as follows:
Loss of Rent.
Keys & Locks Replacement Cover.
Loss Wallet Cover.
Dog Insurance Cover.
Public Liability Cover.
Employees Compensation Cover.
Temporary Resettlement Cover.
ATM withdrawal robbery cover.
Bajaj Allianz Home Insurance – FAQs
1. How to pay a premium? What are the modes of payment available?
Bajaj Allianz Home Insurance offers 3 modes of premium payment namely:
Cash/ cheque payment at the branch
For the online payment mode, the policyholder can pay via;
2. How can I check policy status for Bajaj Allianz Home Insurance?
Registered users can check their policy staus online. Simply login on the e-Portal with your User ID and password to check policy status.
Alternatively, you can download mobile application “Customer Portal” from Bajaj Allianz Portal and then enter the policy details to chcek the status.
3. What is the policy renewal process for Bajaj Allianz Home Insurance?
Renew your policy online in steps
Step 1: Login with the username and password onto the e-Portal
Step 2: Select the policy details and payment mode: Debit/Credit Card or Net Banking
Step 3: Print/Save the cyber recipt of premium payment
4. What is the companys process to settle claim for Bajaj Allianz Home Insurance?
You can download the claim from online, fill it and submit with revelant documents at any of the branch locations in your city.
Upon proper scrutiny Bajaj Allianz General Insurance company will reimburse the claim within 30 days.
5. What is the policy cancellation process for Bajaj Allianz Home Insurance?
You must submit the policy documents and a duly filled surrender form at the nearest branch location in your city. It would take a couple of days to refund the premium and cancel the policy.
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