Tata AIG Home Insurance Overview-tata-aig-home-insurance

Home is the most prized possession for which everyone works hard and saves every penny. No matter how big or small it is, home is a place which gives the comfort, security and warmth to our body and mind. Securing the home against any unforeseen catastrophic situation is hence so critical. Home insurance plans are the most apt financial tools to secure the home. Home insurance planoffers the dual advantage of not only protecting your house from any external means, but also covers the assets and valuable along with the structure. A Good home insurance plan endows the individual to stand in any predicament situations. TATA AIG Home Insurance Plans are designed and crafted to perfection keeping in mind the array of upheaval events. The various types of plans offered under Home Insurance Plans are Instachoice Home Insurance Plan Home Secure Supreme Plan Home Coupon Plan Standard Fire and Special Perils Cover Plan 1. Instachoice Home Insurance Plan Key Features of the Home Insurance plan Simple and hassle free plan enrollment with no documentation required Option to choose premium as per the requirement and coverage amount opted by the applicant in the plan. Complete protection of gold jeweler and other valuable ornaments against burglary. Coverage protection for domestic appliances available under plan scope of benefit. Plan is available for anyone who resides in self owned or rented house. Simple process of enrollment by filling up the details in the “Have us call you” form Plan Benefits Protection against Fire and Special Perils to home structure as well as contents including the events such as fires, earthquakes, floods, lightning, thunderstorms, storms, inundation, cyclones, etc. Protection coverage against man-made threats like terrorism, riots and strikes If the sum insured under fire Benefit is equal to or less than 85% of the full value of the property at the time of breaking out of fire allied perils then the insured shall be considered his own insurer for the difference and shall bear a ratable proportion of the loss For the cases where the house is severely damaged and rendered uninhabitable under Fire and allied perils , the Cover for additional rent is included in the plan to a maximum limit of Rs.30,000 for 3 months. Protection against Burglary & Theft of household contents on 1st loss basis subject to a maximum payment of 10% of the benefit sum assured or INR.5000/- whichever is less. The plan Coverage is extended in the case of any Public/third party Liability against any damage caused to them or their property in the insureds home. This shall include Claims payable by plan holder to their domestic staff under the fatal accident Act 1855, Workmens compensation act 1923 or any amendment three to or common law subject to the benefit sum assured. The Plan would recompense Accidental loss/damage/theft anywhere in India of accompanied personal baggage whilst on travel outside municipal limits of city. A Comprehensive cover against loss/ damage to Audio/AV appliances at home due to fire and allied perils, Burglary/theft, Accidental external means, Mechanical and electrical breakdown, legal liability. Comprehensive protection cover in the event of breakdown of Domestic Appliances against Mechanical &/or Electrical Breakdown to other domestic appliances at your home. Worldwide Personal Accident covers for self and family member in case of death or disablement of the insured person due to accidental bodily injury anywhere in world. Exclusive feature of Purchase Protection to cover New Items purchased under Benefits: Fire & Burglary / Theft up to 30 days from the date of purchase. 2. Home Secure Supreme Plans An exclusively designed insurance plan with 15 different plan cover package. Offers new benefits like purchase protection, medical expenses, temporary resettlement expenses. Flexibility to customize not only from the cover options but also the sum insured as per need. All risk cover for Jewellery and other Valuables as a part of this particular plan. The cover is applicable for Building structure and its Contents and Rent for Alternative accommodation, Financial assistance in case of additional expenses on rent incurred due to loss or damage to the premises caused by an insured peril rendering the premises unfit for occupation and forceful shifting to an alternative accommodation for a maximum period of 12 Months Impact damage caused by own vehicle Plan benefit Covers Loss or damage to the building and contents due to fire, lighting, Explosion/Implosion, Aircraft Damage, Riot, Strike, Malicious and Terrorism Damage, Storm cyclone, Typhoon, tempest, hurricane, Tornado, flood and Inundation, Impact damage, Subsidence and Landslide including rock slide, Bursting and/or overflowing of water tanks, apparatus and pipes, Missile testing operations, Leakage from Automatic Sprinkler Installations, Bush Fire and Earthquake (Fire & Shock) If the sum insured under Benefit-Fire is equal to or less than 85% of the full value of the property at the time of breaking out of fire allied perils then the insured shall be considered his own insurer for the difference and shall bear a ratable proportion of the loss Protection against any damages and litigation expenses due to Property damage/ Bodily Injury of any third party. Protection for newly purchased articles against fire and burglary up to 30 Days from the date of purchase. Comprehensive cover for pedal cycle against accidental damages with additionally covers of liability towards third party injury and/ or property damage up to Rs.10, 000 . Accidental breakage of Plate glass. Mechanical or electrical breakdown of Domestic appliances. Total loss due to mechanical or electrical breakdown or due to an accident of Domestic electronic equipment. Loss or damage to baggage during travel within India Complete protection of household possessions against loss or damage during transit in case of an accident to the carrying vehicle or if the entire goods are not delivered. Personal Accident cover to self and entire family on account of death, permanent total or partial disablement and Medical expenses and Ambulance charges up to specified limits related to and arising out of accident. Expenses towards Hospitalization due to accidents causing death / PTD including ambulance charges due to accident. Expenses for Temporary Resettlement for cases where home has been rendered uninhabitable due to fire Dispossession of money withdrawn from a Bank branch or Automated Teller Machine (ATM) on way back home due to robbery or hold-up. Protection Cover for loss and damages caused by Burglary or theft and/or attempted Burglary or theft to home subject to a maximum payment of 10% of the benefit sum assured or INR. 5000/- whichever is less . Comprehensive cover the contents of home up to the benefit Sum Insured and/or for the contents that have been placed in safe custody during your temporary absence from the home as long as the placement of such contents does not exceed a total of 120 days in any period of Insurance, subject to a maximum payment of 10% of benefit . 3. Home Coupon Plan Instant plan coverage with effortless documentation and cost effective premium. Protection against Fire & similar hazard including earthquake & terrorism. Reimbursement of damage in the event of Burglary on 1st loss without applying the under-insurance clause. Benefits coverage 4. Standard Fire and Special Perils Cover A home insurance plan designed to provide complete protection against fire and some special threats. Sum insured is derived on the basis of Cost of reconstruction excluding land value as per current day value and the value of contents is calculated as per market value. Available for Anyone who resides in self owned or rented house. Benefit coverage The building structure and its contents is covered against any loss of damage due to the below mentioned events. Fire Lightning Explosion/Implosion Aircraft Damage Riot, Strike and Malicious damage Impact damage by any Rail/Road, vehicle or animal by direct contact(excluding damage by own vehicle) Subsidence and landslide including rockslide Bursting and/or overflowing of Water Tanks, Apparatus and Pipes Missile Testing operations Leakage from Automatic Sprinkler Installations Bush Fire Flood, Storm, Inundation etc. Earthquake