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.

  • Comprehensive Package Cover with eight Sections
  • Reinstatement and Market Value Basis of the Sum Insured
  • Flexible Sum Insured Options
  • Hassle-free Claims Process
  • Option to Cover Valuable Content up to INR 5 lakh
  • Protection for Animal Driven Car, Agricultural Tractors, Tillers, Harvesters, etc.

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.

Let’s Understand the Features and Benefits of SBI General Gramin Samriddhi Bima Policy in Detail

We have discussed the features and benefits of the plan below.

Flexible Sum Assured Options

The sum assured will vary from one section to another under the Gramin Samriddhi Bima Plan. To know more, check the below table.

Section OptionCoverage OptionSum Assured
Section 1Standard Fires and Special Perils InsuranceFirst Loss Basis up to 50% of Total Contents
Section IIBurglary and House Breaking First Loss Basis up to 50% of Total Contents
Section IIIAnimal Driven CartLoss 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 IVPersonal Accident (Death Only)-
Section VTelevisions and Setup BoxThird-party Liability - Up to INR 25,000
Section VIAgricultural Tractors/Power Tillers/Harvesters Towing of Disabled Vehicles - INR 15 lakh
Section VIIAgricultural Pump SetUp to INR 25,000
Section VIIIPedal CycleDamage to pedal cycle - Up to INR 5,000

Third-party liability - Up to INR 10,000

What is the Policy Tenure?

Under the SBI General Gramin Samriddhi Bima Plan, the policy term can be a maximum of one year.

Coverage Features

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.

Standard Fires and Special Perils Insurance

Under this section, the policy will cover the building structure, its contents and agricultural items against the following.

  • Fire, Lightning, Explosion/ Implosion
  • Aircraft Damage
  • Riot, Strike & Malicious Damage
  • Storm, Cyclone/ Typhoon, Hurricane, Flood, etc.
  • Impact Damage
  • Subsidence and Landslide including Rockslide
  • Bursting and/ or overflowing of Water Tanks, Apparatus & Pipes
  • Missile Testing Operations
  • Leakage from Automatic Sprinkler Installations

Burglary and House Breaking

This section will cover the loss or damages to your building and its contents (including agricultural items) due to burglary, theft and housebreaking.

Animal Driven Cart

This section will provide coverage against losses to the animal cart due to the following.

  • Fire, external explosion, lightning or flood, typhoon, hurricane, volcanic eruption or other convulsions of nature
  • Burglary and theft
  • A malicious act
  • Accidental external means
  • Whilst in transit by road, rail, inland waterway

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).

Personal Accident (Death Only)

This section under the policy provides financial protection to your family if you face an accidental death during the policy term.

Televisions and Setup Box

Policyholders of SBI General Insurance will get coverage against losses or damages to televisions and setup boxes due to the following.

  • Fire, lightning, the explosion of gas in domestic appliances
  • Earthquake (fire and/or shock)
  • Flood, inundation, typhoon, storm, tempest, hurricane, tornado and cyclone
  • Bursting and overflowing of water tanks, apparatus or pipes
  • Aircraft or articles dropped there from
  • Riot, strike or malicious act
  • Mechanical or electrical breakdowns
  • Accidental external means

This section will also cover legal liability to third parties in case of death or bodily injuries and third-party property damage.

Agricultural Tractors/Power Tillers/ Harvesters

You will get coverage against the losses or damages faced on your tractors, power tillers or harvesters due to the following.

  • Fire explosion, Self-ignition, or lightning
  • Burglary housebreaking or theft
  • Riot and strike
  • Earthquake (Fire and shock damage)
  • Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, etc.
  • Accidental external means
  • Malicious act
  • Terrorist activity
  • While in transit by road rail inland waterway lift elevator or air
  • Rockslide or landslide

This section also covers the following situations.

  • Liability to third parties – Death or Bodily Injury and Property Damage
  • Towing of Disabled Vehicles
  • Personal Accident Cover for Owner/Driver in case of bodily injury or death

Agricultural Pump Set

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.

  • Fire and /or lightning
  • Mechanical/Electrical Breakdown
  • Riot, Strike, Malicious damage
  • Earthquake
  • Storm, Typhoon, Hurricane, Flood, Inundation

Pedal Cycle

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.

SBI General Gramin Samriddhi Bima Policy Eligibility Criteria

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

People Also Read