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Insurance Plans India 542 views August 23, 2021
SBI General Gramin Samriddhi Bima Policy offers farm owners affordable coverage for their properties at all times. This plan provides insurance to the building, its contents, animal cart, pedal cycles, etc. One of the best features of this plan is that it provides eight sections of which it is mandatory to purchase at least one section with the Standard Fires and Special Perils Insurance Section.
Let’s check out the striking features of the plan mentioned below.
On this page, we will talk about the features of the plan in detail so that you can understand each section and its coverage feature better. Let’s start.
Table of Contents
We have discussed the features and benefits of the plan below.
The sum assured will vary from one section to another under the Gramin Samriddhi Bima Plan. To know more, check the below table.
Section Option | Coverage Option | Sum Assured |
---|---|---|
Section 1 | Standard Fires and Special Perils Insurance | First Loss Basis up to 50% of Total Contents |
Section II | Burglary and House Breaking | First Loss Basis up to 50% of Total Contents |
Section III | Animal Driven Cart | Loss or Damage to cart - up to INR 50,000 Death of Animal - Up to INR 50,000 Liability to Third parties - Up to INR 10,000 |
Section IV | Personal Accident (Death Only) | - |
Section V | Televisions and Setup Box | Third-party Liability - Up to INR 25,000 |
Section VI | Agricultural Tractors/Power Tillers/Harvesters | Towing of Disabled Vehicles - INR 15 lakh |
Section VII | Agricultural Pump Set | Up to INR 25,000 |
Section VIII | Pedal Cycle | Damage to pedal cycle - Up to INR 5,000 Third-party liability - Up to INR 10,000 |
Under the SBI General Gramin Samriddhi Bima Plan, the policy term can be a maximum of one year.
As we mentioned in the introduction, you can get coverage under eight different sections. We have talked about the coverage features under each section below.
Under this section, the policy will cover the building structure, its contents and agricultural items against the following.
This section will cover the loss or damages to your building and its contents (including agricultural items) due to burglary, theft and housebreaking.
This section will provide coverage against losses to the animal cart due to the following.
Apart from this, it will cover the death of an animal and liability to third parties (Death or bodily injuries and third-party property damage).
This section under the policy provides financial protection to your family if you face an accidental death during the policy term.
Policyholders of SBI General Insurance will get coverage against losses or damages to televisions and setup boxes due to the following.
This section will also cover legal liability to third parties in case of death or bodily injuries and third-party property damage.
You will get coverage against the losses or damages faced on your tractors, power tillers or harvesters due to the following.
This section also covers the following situations.
If you face a loss or damage to your agricultural pump set due to any of the following reasons, you will get coverage up to INR 25,000 in a policy year.
SBI General Gramin Samriddhi Bima Plan also covers the loss or damage to the Pedal Cycle due to an accident, theft or a malicious act of a third party.
As mentioned in the introduction, farm owners can opt for this policy. For the personal accident section, you will need to fulfill the following conditions.
Minimum Age at Entry – 3 months
Maximum Age at Entry – 65 years