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Bajaj Allianz Home Insurance Overview
Bajaj Allianz General Insurance Company Limited is one of the Indias fastest leading general insurance companies in India. The company has shown its competence and expertise on various general insurance categories like travel insurance, motor insurance, home insurance, health insurance and many more. The company has also received several prestigious awards and one of the very recent one is the Best General Insurance Company Award in 2015 for the best practices followed. Here, we will discuss about the home insurance by Bajaj Allianz General Insurance Company. Home is considered to be the biggest asset in any individuals life and is definitely a much treasured possession and a precious venture, where one is attached to each other and a family is formed. Every moment spend in home/ house with family, friends, relatives are always memorable. Therefore, its extremely essential to protect this priced possession or this asset from any unanticipated situation which might occur at any point of time. Here comes Bajaj Allianz General Insurance which have comprehensive Home Insurance Plans which protects the house from all such risks or uncertainties.
Plans under Bajaj Allianz Home Insurance
There are 3 plans under Bajaj Allianz Home Insurance Plan which are as under: Agreed Value Basis Plans- For Flat/ Apartment. Reinstatement Value Basis Plans- For Flat/ Apartment/Independent Building. Indemnity Basis Plans- For Flat/ Apartment/Independent Building. For complete protection, the company also provides attractive Add On Covers or plans which are as follows: Loss of Rent: One is indemnified for the loss of monthly rent for the time chosen when purchasing the plan. Temporary Resettlement Cover: In case of fire, the plan takes well care of the temporary resettlement cost which includes transportation and packing. Keys and Lock Replacement Cover: This plan also covers the cost where the residence or vehicle keys are lost or stolen or broken. Also in case of theft the same is reimbursed. ATM Withdrawal Recovery Cover: Under this plan, one can get the coverage for the loss of withdrawn money through ATM in India. Actual medical expenses also can be covered which might occur due to some unforeseen injuries. Loss Wallet Cover: This plan covers the replacement cost of the stolen wallet including the papers and cards present in the wallet. Coverage of the application fees for applying cards and papers are also reimbursed. Dog Insurance Cover: Pet dogs insured against death due to accident / diseases contracted. Public Liability Cover: Coverage for civil claims. Employees Compensation Cover: In due course of employment, if an employee met with an accident or disease , the same is also covered under this plan. Now lets have an overview of each and every plan:
Reinstatement Value Basis- For Flat/ Apartment/Independent Building
Under this plan, Diamond Plan I is there, where for Flat/ Apartment/Building its upon the reinstatementValue Basis + Contents – New for Old (For Contents Up to 5 years ) Under this plan, Damond Plan II is there, where for Flat/ Apartment/Building its upon the reinstatementValue 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 0.3% of the Building Sum Insured or the actual rent whichever is less subject to a minimum of Rs 35000/- 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/independent building or contents only or both as well. Policy periods can be 1 year, 2 years and 3 years. Add On Cover 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. Indemnity Basis- For Flat/ Apartment/Independent Building Under this plan, Diamond Plan I is there, where for Flat/ Apartment/Building its upon the reinstatementValue Basis + Contents – New for Old (For Contents Up to 5 years ) Under this plan, Gold Plan II is there, where for Flat/ Apartment/Building its upon the IndemnityValue 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. Options to insure: Under this plan, one can insure flat / apartment/independent building or contents only or both as well. Policy periods can be 1 year, 2 years and 3 years. Add On Cover 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. Eligibility Owners of a flat/ apartment/ independent building less than 30 years of old and not a kutcha construction can apply for these plans including the contents/ jewellery and valuables. Tenants and other non-owners of a residential house can also insure the jewellery and the contents and valuables in the flat/ apartment/ independent building. Home Insurance Claim Process There are two ways of Home Insurance Claim process which are as follows: Household goods in transit: Cases where the damage is suspected in transit, open delivery should be insisted upon the carrier and their certificate should be obtained. Cases where the loss / damage in transit has taken place, a monetary claim should be lodged with the carrier within the prescribed time to protect recovery rights, without which the claim might not be processed. Health Guard Insurance Claim- Non Cashless Claims: Within 24 hours, notice of claim should be intimated. The insured person has to submit the discharge summary of the hospital/ nursing home with the original hospital/ medical bills, reports of the laboratory and the investigations reports. Fitness Certificate from Doctor is also necessary. Leave Certificate from the employer needs to be produced wherever its essential. Customer Support One can contact the company through the following ways: For service related , one can call from any land line and mobile to the toll free number of company. One can write at [email protected][dot]co[dot]in One can also fill up a simple online form post which a call back will be given to the person and the process will be taken forward.
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 Affordable Premiums. Attractive Rebates. 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: Fire Explosion/ Implosion Lightning Aircraft Damage. Riots, Strike and Malicious Damage. Storm, cyclone, Typhoon, Hurricane, Flood, Tornado, Tempest and Inundation. Subsidence and Landslide which includes Rockslides as well. Impact Damage. Water Tanks, apparatus and pipes bursting or overflowing. Bush Fire Leakage from Automatic Sprinkler Installations. Earthquake. 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. Exclusions: 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 Online Payment ECS For the online payment mode, the policyholder can pay via; Credit Card Debit Card Net banking 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. Micro-Insurance Business Of Bajaj Allianz Life Expected To Grow Bajaj Allianz Selects Remedinet Technologies to Offer Speedy Cashless Insurance Settlement Health Care Supreme by Bajaj Allianz Insurance Surgical Protection Plan got Recently Introduced by Bajaj Allianz General