New India Griha Suvidha Policy

New india griha suvidha policy propectus cum proposal form & premium schedule

This policy is an abridged form of the existing Householders’ Package Policy. Ithas four specific options and each option has five sections. Its main objective is to target the average householders contents on `first loss basis . The main highlight of the policy is its simplicity and ease to the customer in providing the details and description of the contents and also a simple and hassle free process of claims administration. The policy also has an Optional Section VI where the Residential Premises can be covered on Full Sum Insured Basis.
This policy is available to any person residing in India , including foreign nationals, provided the contents proposed for insurance is situated within the Indian territory. The settlement of the claims ,shall be in Indian currency only.

Contents (excluding jewellery& valuables) against fire & allied perils including earthquake & terrorism on first loss basis

This section covers contents , which are kept and installed in the premises, as mentioned in the schedule , against fire and allied perils including earthquake . This section is broadly meant to cover Furniture Fixtures Fittings, Upholstry, Clothes and Apparels and Domestic appliances. The insured need not furnish a detailed list of the items for which insurance cover is sought.

This section shall exclude:

• loss of or damage to articles of consumable nature.
• loss of or damage to money, securities, stamps, stamp collections, bullion, livestock, motor vehicles and pedal cycles.
• loss of damage of deeds, bonds, bill of exchange, promissory notes shares and stock certificates, business books manuscripts documents of any kind, unset precious stones and jewelry and valuables, unless specifically declared and covered.

Excess under this section: 1% of S.I . ( Item less than INR 1000/- not covered )

Contents(excluding jewellery) agsinst burglary & housebreaking

The sum insured here is same as section I. Under this section also the insured need not furnish the details of the items for which insurance is sought. As per the limits selected. This section is also broadly meant to cover Furniture Fixtures Fittings, Upholstery, Clothes and Apparels and Domestic appliances.

This section shall exclude:

• loss or damage by burglary, housebreaking or theft where any of the members of the your family is involved as principal or accessory.
• loss of or damage to livestock, motor vehicles and pedal cycles.
• loss or damage to money, securities for money, stamps, bullion, deeds, bonds, bills of exchange, promissory notes, stock and share certificates, business books, manuscripts, documents of any kind, unset precious stones and jewelry and valuables, unless specifically declared.

Jewellery and valuables

This section is meant to cover jewellery and valuable items worn or kept in the premises against perils including but not limited to Fire & Allied Perils including earthquake, Burglary , House-Breaking &Theft and such other sudden accident or misfortune. The policy shall also cover the perils whilst being worn by the Insured or his/her immediate family members permanently living with the insured. Based on the items required to be covered , the commensurate option needs to be chosen by the customer. Description of the items in simple terms need to be specified only for items whose value exceeds 10% of the Sum Insured under this section. A list of a maximum of 5 such items can be opted for under this section.

This section shall exclude:

• Loss or damage due to cracking, scratching or breakage of lens or glass whether part of any equipment or otherwise or to china marble, gramophone records and other articles of brittle or fragile nature.
• Mysterious disappearance, unexplainable losses, loss due to misplacement and missing items.
• Loss or damage caused by moth, mildew, vermin or any process of cleaning, dyeing, repairing or restoring to which the property is subjected.
• Loss or damage caused by mechanical derangement or over winding of watches and clocks.
• Theft from car except from car of fully enclosed saloon type having all the doors, windows and other openings securely locked and properly fastened.
• Loss or damage whilst being conveyed by any carrier under contract of affreightment.

Excess under the section: 1% of S.I. ( Item less than INR 1,000/- not covered )

Breakdown of domestic appliances

The description details of such appliances restricted to the make & ,model need to be specified in the single page proposal form itself.. The value of the gadgets proposed for insurance under t his sections is part of the sum insured under section I & II against Fire and Burglary.

This section shall exclude:

• Loss or damage caused by or arising out of Your willful gross negligence
• Loss or damage due to faults existing at the time of commencement of this insurance and known to You.
• Loss or damage for which the manufacturer or supplier of the Property is liable under contract.
• Cost of transp ort to the rep air shop and back to the Insured’s p remises of any insured Prop erty arising out of any damage.
• Loss of or damage to any insured Property by perils which are insurable under other Section of this policy.
• Loss of or damage to any insured Property occasioned by permanent or temporary dispossession resulting from confiscation commandeering or requisit ion by any lawfully constituted authority of such Property or by permanent or temporary dispossession of any building, resulting from the unlawful occupation by the insured of the building.

Excess under the section: 1% of S.I. ( Item less than INR 1,000/- not covered )

TV /DESKTOP INSURANCE

This section is meant to cover the Television &/or Desktop in the premises. The cover is against Fire, Earthquake, Burglary & House Breaking, Electrical and Mechanical Breakdown.

The section shall exclude:

• Loss of or damage to External antenna or fittings by theft unless the Television Apparatus &/or Desktop is self is stolen at the same time.
• Loss of or damage caused by or arising out of or traceable to erection, repairing or dismantling of the Television Apparatus&/or Desktop
• loss of or damage for which the manufacturer or supplier of the Television apparatus &/or Desktop is responsible either by and / or contract.
• Liability assumed by the Insured by Agreement unless such liability could have affected to the insured not withstanding such agreement.

Excess under the section: 1% of S.I.

(PREMISES) Against fire & allied perils including earthquake & terrorism

This section is optional and covers residential premises where the above described contents are kept and installed, against fire and allied perils including earthquake & terrorism . Here full Sum Insured value of the premises has to declared by the proposer. The Condition of Average and Under Insurance are applicable.

Excess: 5% of the claim amount subject to a minimum of INR 10,000 for AOG perils only