National Insurance Home Insurance Overview
National Insurance Company, Indias one of the largest and oldest general insurance company which provides tailor made and comprehensive insurance plans. Its the only Public Sector General Insurance Company to introduce product customization both Corporate and Rural insurance plans. General Insurance of this Group is a important sector where the company promises to deliver a product which meets the requirements of a common man. Multiple insurance plans like Motor Insurance Plans, Two wheeler insurance plans, Health Insurance Plans, Rural Insurance Plans, Industrial Insurance Plan, Commercial Risk Insurance Plans, Personal Accident Plans, Home Insurance Plans for Individuals and other types of insurance too which are tailor made and customer friendly and completely transparent.
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. Thereafter, each and every moment in that house becomes priceless with time spent with the family and one gets attached to every corner of the house and its belongings. Therefore, its absolutely necessary to protect this dream or this asset from any unforeseen circumstances which might occur at any point of time. National Insurance has comprehensive Home Insurance Plans which protects the house in every possible way. An ideal solution to invest in National Insurance home insurance plans which offers an extensive coverage for the house and the household contents. The plan provides absolute and complete financial assistance and support with timely payouts. National Insurance Home Insurance plans can be easily availed by home owners with much affordable premiums.
Here we will discuss about the National Insurance Home Insurance plans.
Here we will see an overview of National Insurance Home Insurance Plan.:
Section I – Coverage against Fire and Special Perils A) House Building and B) Contents. Customer has to opt for 1( B) for Contents which is mandatory and any two from the below mentioned sections.
Fire : Under this plan, loss against fire is covered excluding damage or destruction caused to the property by
Natural heating, own fermentation or spontaneous combustion.
Undergoing any heating or drying procedure.And Burning of the insured property by order of any Public Authority.
Lightening: Natural calamity of lightening is covered under the plan.
Implosion/Explosion: Both explosion and implosion are covered under this plan, except damage or destruction caused to the property by
Caused by centrifugal force.
Aircraft Damage: Damage, destruction or loss caused by aircraft , other aerial or space devices and articles dropped are covered under this plan, from except those caused by pressure waves.
Riot, strikes and Malacious Damage: Physical damage/ loss / destruction caused by external and violent means which are caused directly to the property except:
Total or partial cessation of work or retardation or interruption of any process or omissions.
Permanent or temporary dispossession.
Permanent or temporary dispossession of any building from illegal occupation of any person.
Burglary, theft, housebreaking, larceny or any such act by any person.
Damage, destruction or losses caused by natural calamities like mentioned are also covered under this plan. Storm, cyclone, typhoon, tempest, hurricane, tornado, flood and inundation, excluding those resulting from earthquake, volcanic eruption or other convulsions of nature are also covered under this plan.
Impact Damage: Physical damage/ loss / destruction caused to the insured property due to impact by any rail, road, vehicle or animal by direct contact which do not belong or owned by
Insured or the occupier of the property OR
Insureds employees while acting in the course of their employment.
Subsidence and Landslide which includes Rockslide as well: Damage, destruction or loss caused by Subsidence of part of the site on which the property stands or landslide and rockslide except:
Normal cracking and settlement or bedding down of new structures.
Settlement or movement of made up ground.
Coastal or river erosion.
Faulty design by workmen.
Demolition, construction, repairs or structural alterations of any property.
Bursting and or Overflowing of Water Tanks, Apparatus and Pipes.
Missile Testing Operations.
Leakage from Automatic Sprinkler Installations.
Section II – Burglary & Housebreaking which includes larceny and theft – For Contents Only: This plan covers the loss or damage due to Burglary and /or Housebreaking which . In addition to this, loss or damaged caused due to attempted burglary and/or housebreaking is also paid for
Section III – All Risk against valuables items only: Under this plan, the protection is for familys Jewellery and valuables from all risks. Valuables include cameras, wrist watches and musical instruments. The policyholder will have to bear 5% of each claim amount with a minimum of Rs 25000.
Section IV – Plate lass Cover( fixed): Under this, the protection is for the fixed plate glass against accidental damage or loss. The policyholder will have to bear 5% of each claim amount with a minimum of Rs 2500.
Section V – Breakdown of Domestic Appliances: Under this, the coverage is for the domestic appliances against mechanical and electrical breakdown. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 500.
Section VI – Television Sets ( All Risk) cover;
Section VII – Pedal Cycle: The cover provides protection against legal liability arising from the damage caused to the third party.
Section VIII – Baggage Insurance: Under this plan, the protection is for luggage, personal effects as well as personal papers as accompanied baggage beyond municipal limits against loss, theft or accidental damage.
Section IX – Personal Accident Insurance: Under this plan, there is coverage for personal accident insurance also.
Section X – Public Liability and Workman Compensation Risks: Under this plan, there is coverage for public liability and workman compensation risks.
Claim Process under the plan:
The claim service of the company is highly efficient and of high standard. One can make 24×7 claims notification. Timely customer service and assistance along with survey and further assistance within a day. Simple claims procedure and ensuring high customer satisfaction.
Call at the toll free no of the company and lodge the claim.
The following details are to be furnished:
Nature of loss.
Location of loss.
Amount of loss
Insured Contact Details.
Claim representative will contact the insured person for further process.
Claim representative will provide the claim reference number for future reference.
FIR will be needed for compulsorily for Malacious Damage Riot and Strike Terrorism, Burglary, Theft. But the same is not needed for flood, storm, lightning, subsidence, earthquake, Impact Damage due to Aircraft Losses.
After the claim gets submitted and the same is approved, a text message will be sent intimating the surveyor details.
A Surveyor is appointed to assess the loss of the insured house and inspection of the same. Post which the approval is given and the insured is intimated about the claim status.
The Surveyor will contact for suitable time for survey and will conduct the survey.
After this, the claim will be processed.
National Home Insurance – FAQs/p>
1. How to pay a premium? What are the modes of payment available?
The National Insurance Company offers 2 modes of premium payment namely:
Cash payment at the branch
For the online payment mode, the policyholder can pay via;
2. How can I check policy status for National home insurance?
To check policy you can log into thee-Portal with your valid credentials.
3. What is the policy renewal process for National home insurance?
Registered policyholders can pay online in 3 easy steps
Step1: Enter your Policy Number and Date of Birth to login into e-portal
Step2: Select the payment option- Debit/Credit Card or Net Banking
Step3: Print/save the premium deposit receipt upon successful payment
Alteranatively, you can renew by Mobile
4. What is the companys process to settle claim for National home insurance?
You need to fill the claim form and attach it with relevant documents to the Policy issuing office either directly or by an authorised Agent. Upon satisfactory evaluation, the claim will be settled in full within a few days.
5. What is the policy cancellation process for National home insurance?
Walk into your nearest branch with your policy documents and a duly filled surrender form. Upon successful acceptance at the counter, your policy will be cancelled and refunds directly credited in your bank account.
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