My Home Insurance - All Risk Policy
Home is where your heart belongs. Your house is the centre of your world, a priceless investment and a vault for a thousand memories, all bundled into one. This makes your home an unrivalled asset. However, there could be times when your abode would be vulnerable to many a risk and contingency.
At Bajaj Allianz, we understand the need to safeguard your home and have accordingly come up with the unique My Home Insurance All Risk Policy that is specially designed to provide formidable coverage to your house, the contents inside it and other valuables.
As your preferred home insurance solutions provider, protecting your home is our priority. And that is why; we bring you the simple yet extensive insurance cover you deserve that is also affordable at the same time.
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Want to know more about My Home Insurance - All Risk Policy? Check out our list of Frequently Asked Questions for answers to your queries
My Home Insurance policy is applicable for all as follows:
A) Homeowners who own a property that is not more than 50 years old can purchase our My Home Insurance policy.
B) Tenants living in a rented accommodation, as well as others who do not have home ownership, can insure their contents of the property occupied by them.
It is important to assess the value of your home structure and its contents properly before purchasing a house insurance policy, just to make sure that you are not under or over insured. This could affect the claim amount in case of a loss, or you might end up paying more premium then what you are supposed to pay. To simplify the value assessment process, we have broken down the factors into three different basis for structure, and two different basis for content which you can choose from, as per your requirement:
Agreed value basis: You can cover the structure of your property on the value agreed upon with us that could be higher than the market value. This is applicable only for structure and not content.
Reinstatement basis: If you decide to purchase the home insurance policy under reinstatement value basis, there will be no depreciation imposed at the time of claim and you will be paid the total cost of replacement depending on the sum insured. This is applicable only for structure and not content.
Indemnity value basis: Indemnity value basis, commonly known as market value basis is a method used to insure structure that considers the depreciation amount as per the age of the building, at the time of claim. This method can also be applied when insuring content.
New for old basis: When this method is chosen for insuring content, the item damaged beyond repair will be replaced with a new one or we will pay out the cost for replacement of the item in full, regardless of its age.
Your dream home deserves to be protected. Our My Home Insurance policy is a very affordable financial tool designed to cover your home and its contents against natural and man-made calamities such as earthquakes, floods, fire, theft, burglaries and any other risks it might be prone to.
Property insurance is a policy offered to homeowners who wish to cover their property structure as well as its contents, which will protect them against financial losses caused due to incidents such as fire, burglary, flood, theft, etc. You can also cover only the contents of the house that you have rented for living purpose.
Bajaj Allianz My Home insurance policy covers several perils due to which damages can be caused to your property and its contents. However, there are certain conditions under which they cannot be covered such as pre-existing damages to the structure and content, defective workmanship, manufacturing defects in mechanical and electrical items, improper handling of contents, loss or damage directly or indirectly in consequence of war, invasion or act of foreign enemy hostilities, mysterious disappearance and unexplained losses, and loss or damage to the insured property or to the general public arising out of immoral or unethical use.