Insurance Plans India 1607 views August 4, 2021

The Bharat Griha Raksha policy provides financial protection against losses/damages to homebuilding and its contents. Under the policy, you’ll get financial protection in case of unfortunate events like physical loss, damage or destruction of the homebuilding and articles. Read this page and know more about the Bharat Griha Raksha coverage

Types of Bharat Griha Raksha Covers

In case your homebuilding or its contents are lost, damaged or destroyed physically during the policy tenure, the insurer shall provide you the benefit as per your chosen cover:

Home Building Cover: In case the home building is damaged, the insurer shall cover the cost of repairs, architects, surveyors, consulting engineer’s fees, costs of clearing debris, loss of rent and rent for alternative accommodation. If the building is destroyed, the insurer shall cover the cost of construction.

Home Contents Cover: The insurer shall cover the articles or things in your home. If you opt for Home Building Cover, the general contents of the home are automatically covered for 20% of the sum insured, subject to a maximum of INR 10 Lakh. This benefit isn’t available unless you opt for a higher sum insured for Home Contents and declare its details. In case of the damage or loss of the item, the insurer will pay the cost of repair or replacement of that item with the same or similar item. The Home Contents Cover is for the general contents of the household used in your homes like television, refrigerator, furniture and other household articles.

Bharat Griha Raksha Optional Covers

The following optional covers can be added to the Bharat Griha Raksha Plan on payment of additional premium.

Cover for Valuable Contents on Agreed Value Basis: You can cover the valuable contents of your home, such as jewelry, silverware, paintings, works of art, etc. under this optional cover. So, in case of loss or damage to the valuable content, the insurer will pay the agreed value as shown in the policy schedule.

Personal Accident Cover: If you or your spouse die due to an insured peril causing damages to your home building and its contents, the insurer shall pay a compensation of INR 5 Lakh per person.

List of Perils Covered Under Bharat Griha Raksha

Bharat Griha Raksha policy will cover physical loss, damage or destruction caused to the insured property by the following:

  1. Fire
  2. Explosion or Implosion
  3. Lightning
  4. Earthquake, volcanic eruption, or other like convulsions of nature
  5. Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Tsunami, Flood and Inundation
  6. Subsidence of the land on which your homebuilding stands
  7. Landslide
  8. Rockslide
  9. Bush Fire, Forest fire, Jungle fire
  10. Impact damage of any kind
  11. Collisions are caused by any external physical object like the vehicle, falling trees, aircraft, wall, etc.
  12. Missile testing operations
  13. Riot, Strikes, Malicious Damages
  14. Acts of terrorism
  15. Bursting or overflowing of water tanks, apparatus and pipes
  16. Leakage from automatic sprinkler installations
  17. Theft caused by any of the above-insured events within seven days of its occurrence

Who Can Purchase Bharat Griha Raksha Plan?

You can purchase the Bharat Griha Raksha Plan if you are any of the following:

  1. Owner of the building
  2. Tenant of the home
  3. Licensee or employee of an organization

The policy tenure ranges from 1 to 10 years. You can choose your tenure as per your need.

Exclusion from Bharat Griha Raksha Plan

The insurer shall not cover the following losses/damages:

  1. Losses/damages caused by the burning of the insured property following the order of any Public Authority
  2. Normal cracking, settlement or bedding down of new structures
  3. Settlement or movement of made up ground
  4. Coastal or river erosion
  5. Defective design or workmanship or use of defective materials
  6. Demolition, construction, structural alterations or repair of any property
  7. Groundworks or excavations
  8. Losses/damages caused by pressure waves of aircraft or other aerial or space devices traveling at sonic or supersonic speeds.
  9. Temporary or permanent dispossession, confiscation, commandeering, requisition or destruction by order of the government or any lawful authority
  10. Temporary or permanent dispossession of your home by unlawful occupation by any person
  11. Repairs or alterations in your home or the building
  12. Repairs, removal or extension of any sprinkler installation
  13. Defects in the construction
  14. Loss of any article or thing outside your home
  15. Loss of any article or thing attached from the outside of the outer walls or the roof of your home, unless it is securely mounted.
  16. Losses/damages caused by your deliberate, willful or intentional act
  17. War, invasion or war-like operations
  18. Ionizing radiation
  19. Pollution or contamination
  20. Property is missing or if it has been mislaid
  21. Property is missing or has been mislaid
  22. Consequential or indirect loss or damage to the property
  23. Loss or damage to bullion or unset precious stones, manuscripts, vehicles and explosive substances
  24. Addition, extension or alteration to your building of more than 10% of its carpet area.
  25. Costs, expenses or fees for claim preparation

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