IFFCO Tokio Home Insurance by IFFCO Tokio is a foremost General Insurance company. They are providing their services to a large customer base in India. It ranks among top companies in India and providing varied range of products to their customer especially designed as per their need. It is a trusted brand name among their customer. They have their expert team of Insurance analyst, who make sure to value your hard earned money and provide you the comprehensive cover exclusively designed as per your need. They provide full transparency in their services. The entire product range is available online, so it is very convenient for customer to buy their product at their ease. Their Claim settlement process is also very fast and prompt. Why one should avail Home Insurance Plan? Own a home is one of the major milestones of life. It takes your hard earned money and ample of time to build a home of your dream. Home is the biggest asset of anybodys life. Investment in your house is an investment for life time. Therefore to safeguard your home is of utmost importance. It is essential to save your house from some unavoidable man made or natural calamities. It is very costly affair to repair your house after the casualty; even you can become homeless in certain circumstances, for instance earthquake or fire. Home Insurance is thus a plan to provide cover to your home and its content against unforeseen tragedies. This policy may cover losses occurring to your home, its content, or loss of the other personal belongings of the house owner. It also covers any legal liability on house owner for the accidents which may happen at the policy territory. Home Insurance Policy by IFFCO Tokio: Home Insurance Policy from IFFCO Tokio provides comprehensive plan to cover broad range of risks and perils. This policy provides protection to your home, its content, assets, liability, interest and those of their family. Two types of Home Insurance Plans are provided by IFFCO Tokio: Home Family Protector Policy Home Suvidha Policy Home Family Protector Policy:- This policy understands that your home and family is very important to you. Your love, care, money and time are invested in your house. You cant guard your home from all the possible risks, but you can definitely take the steps to overcome from these risks by providing total protection cover. IFFCO Tokios Home and Family Protector Policy is a comprehensive plan to provide protection against all sort of possible uncertainties. It is an All-in-one plan which provides you the insurance cover to your home, its entire assets, liabilities and interest of yours as well as of your family members. What is insured? IFFCO Tokio provides discount in premium if you opt for multiple cover options by selecting their various section of the policy. This plan consists of 12 different sections under which a range of properties are covered. Below mentioned are the properties which are covered under this plan: Household Appliances Television/VCR/DVD Player Computer, mobile phones Glass fittings Jewellery and other valuable stuff Furniture Building Other household article Pedal Cycle Benefits and Features: Premium is reasonably priced and pocket friendly. Rebates/discounts on premium is available This plan provides protection to your home and its content like electronic appliances or other valuable items. This plan also has an option to provide personal accident cover. This plan also has an option to provide public liability cover. This plan also provide baggage insurance (optional) Covers breakdown of Domestic appliances. What is covered? Section 1- Fire & Allied Perils:- As per section -1 your building as well as the different contents of building is covered against fire, bursting, explosion, overflowing of water tanks, strikes, malicious damage, riots, earthquake, cyclone, flood, landslide etc. This section also covers- Cost to meet the terms of building regulations subsequent to damage. If contents moved to any other place to be used as short-term residence. After the wedding of any member in your family there will be automatic increase in amount of sum assured for the period of 15 days before and after wedding without any extra charges. This section also covers below mentioned features with some extra premium- It covers Surveyor, Architect and engineers cost during reinstatement after damage. Cost for debris removal. To guard against the inflation there will be escalation in sum assured amount throughout he year. Additional expenses on rent whether you are a tenant or landlord, and covers loss of rent for landlords. Section 2- Burglary and other Perils:- As per this section your building as well as the different contents of building is covered agasint housebreaking, robbery, burglary, or dacoity. It also covers collision damage by falling trees, lamp post, electric poles, breakage or collapse of television or radio aerials or satellite dishes, and any damage by civic authorities in avoidance of fire. Section 3- All Risk:- This section provides cover to valuable items such as Jewellary, Gold, silver, other precious metals or stones, clocks, watches, video cameras, photographic instruments, microscopes, telescopes, cameras, musical instruments, sports equipment which also includes guns against accidents or calamity in anywhere in India Section 4- Fixed Glass and Sanitary Fittings:- This section provides cover to fixed plate glass and sanitary fittings in the house/premises of the proposer against any accidental breakage. It also includes frames or framework, lettering or painting etc. Section 5- Electronic Equipment:- This section provides cover to electronic equipment installed at your home such as computer, data carrying material, fax machine, accessories etc. Section 6 (A/B/C) – Home Entertainment Equipment, portable computers and mobile phones, and Pedal Cycle:- This section covers all the home entertainment equipment breakdown of the domestic appliance such as portable computer, mobile phones, and data carrying material etc against any unintentional or unanticipated damage worldwide. This section provides covers the loss or damage to pedal cycles against Accidents or misfortunes by external means, including Third Party bodily/ personal injury or third party property damage caused by pedal cycle. Section 7- Break down of Electrical or Mechanical devices:- This section covers all the mechanical or electrical breakdown of electronic or mechanical devices such as refrigerator, Air conditioner, washing machine up to 7 years of age against any unintentional or unanticipated damage. Section 8- Personal Accidents:- This section covers the physical damage or death of the insured by any accident, violence or any other external and evident means which is mentioned in the policy. This section also covers additional benefits such as ambulance charges, education fund, dead body carriage cost, damage to cloths, and rehabilitation cost to insured person to get rid from shock of injury, also cost for modification or repair of house or vehicle after accident. Section 9 – Loan Payment protection:- This section provides protection for repayment of your monthly EMI for loan against home, vehicle or any consumer durables etc for maximum period of 1 year, in case of total disablement of the insured person due to sickness or accidental injury Section 10- Baggage:- This section provides cover to the baggage carried by the insured person and his/her family members against accidental loss or damage while travelling anywhere in world for business purpose or holiday. Section 11 (A/B/C) – Liability:- This section covers the legal liability of insured person for any physical injury or loss or damage to the property of third party. This section also covers the Workmens Compensation liability of the insured to domestic servant working in the premises of the Insured person. This policy also covers your liability as tenant to your landlord under tenancy agreement for damage to building or electrical fittings or installation due to perils covered under section 1 and section 2. Section 12 – Increased Living Expenses:- This section covers the cost of migration for you, your family and domestic help, emergency medical treatment cost up to certain limit, cost of hiring furniture, and cost of removal of house content, emergency accommodation to guest house or hotel followed by damage to your home. Important Clause:- A minimum of 5 sections need to be covered. If you opt for 6 or more section, you will get discount in premium. For Section 1, 2, 3,4,5,6 and 7 the insurance is on replacement value subject to maximum of Sum Assured. Section 1 and section 2 does not apply to clothing and linen items. There are not any maximum limits specified for sum assured under any section excluding few sub limits for specific items. Under section 1, 2,4,5,6 and 7 if the value of property is greater than sum assured at the time of damage than the claim would be paid in same proportion. Exclusion under IFFCO Tokio Home Family Protector Policy: Damage, deconstruction or loss caused by war, act of foreign enemy, hostilities, invasion or war like operations. Damage, deconstruction or loss to property caused by any act of terrorism. Damage, deconstruction or loss to property is insured by – i) ionising radiation, or contamination by radioactivity from nuclear fuel or wastage from the combustion of nuclear fuel. ii) The radioactive toxins or any other hazardous properties of explosive nuclear assembly or component thereof. Loss or damage causes by mean of downgrading of the article or wear and tear or depreciation. Permanent or temporary dispossession of property resulting from exclusion, commandeering, requisition or deconstruction by order of any lawful or government authority. IFFCO Tokio Home Suvidha Policy: Its a complete protection plan which protects your family from wide range of perils and risks. Different Sum Assured are available under various categories; one can opt for any category as per the extent of risk. Coverage under the Policy: Fire and Allied Perils (Contents)- Contents of building is covered against fire, bursting, explosion, overflowing of water tanks, strikes, malicious damage, riots, earthquake, cyclone, flood, landslide etc. Burglary and other perils (Contents)- Different contents of building is covered against housebreaking, robbery, burglary, or dacoity. Television and Video Equipment Personal Accident- This section covers the physical damage or death of the insured by any accident, violence or any other external and evident means which is mentioned in the policy. Fire and Allied Perils-Building Personal Computers- This section provides cover to electronic equipment installed at your home such as computer, data carrying material, fax machine, accessories etc. Exclusion under IFFCO Tokio Home Suvidha Policy: WAR RISK- Damage, deconstruction or loss caused by war, act of foreign enemy, hostilities, invasion or war like operations. TERRORISM DAMAGE- Damage, deconstruction or loss to property caused by any act of terrorism. NUCLEAR RISK- Damage, deconstruction or loss to property is insured by – i) ionising radiation, or contamination by radioactivity from nuclear fuel or wastage from the combustion of nuclear fuel. ii) The radioactive toxins or any other hazardous properties of explosive nuclear assembly or component thereof. If damage caused to the property is insured by its own fermentation, impulsive combustion or natural heating. WEAR AND TEAR- Loss or damage causes by mean of downgrading of the article or wear and tear or depreciation. CONFISCATION- Permanent or temporary dispossession of property resulting from exclusion, commandeering, requisition or deconstruction by order of any lawful or government authority. Permanent or temporary dispossession of property resulting from unlawful activity by the person. CONSEQUENTIAL LOSSES- Any indirect losses or damage like loss of earnings, loss by delay, loss of market. In respect of computer 5% of claim amount subject to minimum of Rs. 2500/-. Due to defects or faults in the commencement of insurance which is known to you or your family. For manufacturing defects Damage to rented or hired equipment for which owner is responsible. Cost incurred in movement of equipment outside the policy territory except for cost of delivery of damaged part. Damage to consumable items like bulbs, tubes, ribbons, fuses, belts, wires, chains etc. Damage while dismantling, repair or adjustment by unauthorised representative Important Clause: Limit of Liability- The maximum limit of liability for any damage is limited to the collective sum insured specified in schedule. Basis of Claim Settlement- For damage of insured equipment necessary expenses will be repaid which is required to restore the product in previous form or will pay the market value of the same if repair cost exceeds replacement cost. Repair Basis- No deduction of depreciation for replaced parts except for products with limited life. Cost of provisional repair will be borne by company if it is the part of final repair. Reimbursement will be done after submissions of proper bills and documents. Value of salvage to be taken in account in case of replacement. Total Loss Basis- Market value will be calculated after deducting depreciation amount from the actual replacement value of the item. If you are unable to replace the damaged item for any reason no need to submit the bills and document for the same. If the damaged item subject to total loss is outdated than all the necessary cost to replace the item with the follow-up item will be reimbursed. Special Condition: If any damaged item will be kept in operation without being repaired to companys satisfaction or temporary repairs are carried out without companys consent, then the companies liability under any section of the policy for this damaged item will be ceased.
