Home Insurance

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Home Insurance

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Buy Home Insurance / House Insurance Policy from Bajaj Allianz, which will protect not only your home, but also the belongings / content inside it. – PowerPoint PPT presentation

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Title: Home Insurance


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Home Insurance
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A Plan to protect your dream destination
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  • A house is a place that provides shelter for
    living. Your dream palace is often cemented with
    rigorous efforts and bricks of emotions.
    Unexpected mishaps can turn these happy times
    into disasters leaving you completely shattered
    and broken. You not only go through monetary loss
    but also lose your mental peace. An insurance to
    cover financial loss can act as a healing source
    towards your sorrows during the crisis time. It
    can help reduce your stress and give mental
    calmness. A home insurance typically covers
    damages done to your house due to natural
    calamities, fire, riots, burglary etc. Also these
    policies cover home contents including furniture,
    cloth, utensils, jewellery, etc. All these
    aspects have made home insurance popular in India
    where more and more educated section of the
    society is willing to buy insurance to shield
    their dreams.
  • How does it work?
  • House policy can insure a house and contents
    (in certain cases) that make a home from loss due
    to any of the conditions that are mentioned in
    policy covers. Lets understand how policy works
    Firstly the property owner has to identify his or
    her insurance needs, including the premium
    payment capacity that he or she can afford to pay

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  • Then you need to approach an insurance
    provider and chooses a policy that covers his or
    her specific needs. A proposal form is filled by
    the applicant and based on the value of the house
    structure and/or household items the property
    will be insured to certain amount along with a
    fixed monthly premium charge. With regular
    payment of premiums the house structure and/or
    household items will be insured for a certain
    period of time. The application will be processed
    and based on type of damage and its valuation
    claim takes place.
  • Many people are unaware of the damages which
    policy covers and end up buying a wrong or
    incomplete policy. A typical house insurance will
    cover Fire, Lightening, Aircraft Damage,
    Explosion / Implosion, Storm, Cyclone, Typhoon,
    Hurricane, Tornado, Flood and Inundation, damage
    to property due to riot, strike, malicious and
    Terrorism, Landslide, any type of
    Bursting/overflowing of water installations,
    Missile testing operations, Leakage in sprinkler
    installations, Bush fire, Earthquake and Impact
    Damage.
  •  
  • Some factors that are strictly not covered
    under a home insurance policy are Destruction
    of property willfully, Damages to property due to
    wear and tear, Loss to property due to war, if
    house unoccupied for more than a certain
    specified period and money in the form of cash,
    antiques and collectibles.

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  • How does claim work?
  • For the structure of the property the value is
    arrived at on 'Reinstatement Value' basis. It
    means that the reimbursement amount will be the
    cost of construction of a similar new property.
    The contents, for which an individual is claiming
    an insurance reimbursement, are valued on the
    market value basis. For jewellery and
    furniture, the value is appropriately fixed after
    consulting a valuator.

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  • Documents required for claims
  • Depending on the cause of damage to your
    property the documents will also vary for ex If
    the damage is due to earth quake a seismological
    report is required. If its due to fire it has to
    be a report from fire brigade team etc. Besides
    you need some Standard documents such as A claim
    form filled as an application to claim process,
    FIR will be a necessity and Photo copies of
    bills, replacement estimates, policy etc.
  • There are certain parameters that decide when
    and where a home insurance can be provided.
    Therefore, it is important for a person to read
    definition of each term in policy wordings to
    make sure house structure or households fit for
    insurance policy.
  • .
  • To know more about https//www.bajajalli
    anz.com/Corp/motor- insurance/car-insurance.jsp

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  • Thank You..!
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