Royal Sundaram Home Insurance

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Royal Sundaram Home Insurance

Home is one of our basic needs. It provides us shelter and safety. But our shelter also required protection from some inevitable situations like fire, short circuit, earthquake, lightening etc.

Royal Sundaram offers you online home insurance plan with variety of features which gives total protection to your house and its content. This will guarantee you the peace of your mind as well as the financial security at the time of any unwanted event.

Why one should avail Royal Sundaram Home Insurance Plan

Below mentioned are the few reasons that why one should avail home insurance plan from Royal Sundaram:

  • Royal sundaram provides up to 50% off on total premium if you opt for long term insurance plan.
  • In case of Damage, complete cost of reconstruction will be reimbursed.
  • It also covers Surveyor, Architect and engineers cost
  • Up to 1 crore of insurance without any inspection & documentation.
  • Fastest Issuance of policy documents.
  • Claim settlement  process is fast and also ISO Certified
  • Royal Sundaram offers online home insurance options to save your time and hassles of documentation

 

Home Shield Insurance-

Home shield Insurance plan covers building of your home and wall of the compound against the threats such as fire, earthquake, flood, riot, and other malicious activity.

What is insured?

Any home in India which comes under residential property and is pucca construction can be insured under the scheme.

What is covered?

Reconstruction cost-

In case of any adverse event if damage occur to your home which is covered under home insurance scheme, complete reconstruction cost subject to maximum of sum assured will be reimbursed.  Home Shield Insurance cover includes plinth and foundation. Land is not covered under the scheme. Cost of the building declared by you for insurance need to be the reconstruction cost which does not include cost of land.

Professional fees-

It requires the services of professionals to reconstruct your home. Professionals like engineers, surveyors, and architect are required to make the perfect planning for the reconstruction of your home. These professionals charges fees to render their services. This fee will be reimbursed under home shield insurance plan. Maximum 3% of the claim amount will be reimbursed under this head.

Debris Removal-

Whenever the damage occurs to your home lots of wastage also occurs due to the deconstruction. Before starting the process of reconstruction this debris need to be clear. This process is also chargeable which is also covered under home insurance plan. Maximum of 1 % of claim amount will be reimbursed under this head.

Key Features –

  • Royal sundaram Home shield provides up to 50% off on total premium if you opt for term of 10 years or more.
  • In case of Damage, complete cost of reconstruction will be reimbursed subject to maximum of sum assured.
  • This plan also covers Surveyor, Architect and engineers cost.
  • Debris removal cost is also covered under this plan.
  • Up to 1 crore of insurance without any inspection & documentation.
  • Fastest Issuance of policy documents within 5 minutes of completion of loan application formalities.
  • Instantaneous cover commence as soon as the premium received by the company.
  • Claim settlement  process is fast and also ISO Certified
  • Royal Sundaram offers online home insurance options to save your time and hassles of documentation
  • Extended term up to 20 years is provided by the company to cover your building. Enjoy your peace of mind for the longer term.
  • If you want any sort of information regarding policy or company, 24*7 online chat facility is available on their website. Where their executives are available online to provide you the assistance.
  • You can also call their toll free numbers and their executive will assist you further and provide you the full information regarding the procedures to apply for the loan. Their toll free number is- 18604250000.
  • Under Insta renew facility renewal of the policy can be done anytime and from anywhere. No need to roam around the branch you can renew your policy online at your ease.
  • Affordable amount of 60 paisa per Rs 1000/- of the insured amount will be charged as premium. Premium amount is very reasonable and competitive.
  • You will get speedy authorization to the repair or reconstruction process so that you can start the process immediately.

Premium

Premium of 60 paisa per Rs1000/- will be charged of total sum insured for 1 year. You can go through their website fill the required information like insurance amount and term. They will send you the quotation mentioning the exact premium amount to your email address.

Premium amount can be paid through Debit card, credit card, Demand draft or cheque.

If you opt for longer term you can also avail attractive discounts on the premium amount. Let’s have a look in tabular form on the percentage of discount which you can avail for the longer term.

Insurance Term

Long Term discount in percentage %

3

15

4

20

5

25

6

30

7

35

8

40

9

45

10

50

11

50

12

50

13

50

14

50

15

50

16

50

17

50

18

50

19

50

20

50

 

Perils covered under Home Insurance:

Fire- Any damage or destruction caused by fire is covered under the policy excluding.

Exclusion-

a) If damage caused to the property is insured by its own fermentation, impulsive combustion or natural heating.

b) Its already undergoing any drying or heating process.  

c) Burning of property is insured by order of any public authority.

  • Lightning- Damage, loss or destruction caused by lightning is covered under the policy.
  • Explosion or Implosion- Damage, loss or destruction caused by Explosion or implosion is covered under the policy.
  • Aircraft Damage- Damage, loss or destruction caused by aerial devices, space devices or aircraft is covered under the policy excluding damage caused by pressure waves.
  • Riot/ Strike / Malicious Damage- All the visible physical damage or destruction to property caused by external violent is covered excluding-

Exclusion-

a) Total or partial termination of work or retardation, interruption or cessation of any process or operation.

b) Permanent or temporary dispossession of property resulting from exclusion, commandeering, requisition or deconstruction by order of any lawful or government authority.

c) Permanent or temporary dispossession of property or machinery resulting from unlawful activity by the person.

d) Aggravated burglary, housebreaking, theft or any other similar attempts.

    • Flood, storm, typhoon, hurricane, tornado, tempest and inundation- Damage, loss or destruction directly caused by Flood, storm, typhoon, hurricane, tornado, tempest and inundation is covered.
    • Impact Damage- All the visible physical damage or destruction to property caused by impact of any rail or road vehicle or any animal is covered excluding-

Exclusion-

a) If the animal or vehicle owned by the policy holder or any occupier of the premises.

b) If the animal or vehicle owned by any of their employee while acting in the course of their employment.

    • Landslide and subsidence including rock slide- Physical damage or destruction directly caused by subsidence of the part of the site on which property stands or due to rock sliding or land sliding is covered excluding-

Exclusion-

a) Normal cracking or settlement of new structure.

b) Movement or settlement of made up land.

c) River erosion or coastal erosion.

d) Use of defective materials or defect in design.

e) Construction, repair, demolition, or structural alteration of any property or groundwork.

    • Bursting and/or overflowing of water tanks, apparatus and pipes- Any visible physical damage or destruction caused by Bursting and/or overflowing of water tanks, apparatus and pipes.
    • Missile testing operation- Damage, loss or destruction caused by missile testing operation.
    • Leakage from automatic sprinkler installation- Damage, loss or destruction caused by Leakage from automatic sprinkler installation is covered excluding-

Exclusions-

a) Alteration or repair of building/ premises.

b) Removal, repair or extension of sprinkler installation

c) Any defect in construction which the Insured is aware about.

  • Bush Fire- Loss or damage caused by bush fire, forest fire is excluded.
  • Earthquake(Fire and shock) or other convulsion of nature-

Specific Exclusion:-

  • 5% of every claim subject to maximum of Rs 10000/- is not covered in respect of each loss arise out of earthquake or any other natural convulsion.
  • Damage, deconstruction or loss caused by war, act of foreign enemy, hostilities, invasion or war like operations.
  • Damage, deconstruction or loss to property caused by any act of terrorism.
  • Damage, deconstruction or loss to property is insured by – i) ionising radiation, or contamination by radioactivity from nuclear fuel or wastage from the combustion of nuclear fuel. ii) The radioactive toxins or any other hazardous properties of explosive nuclear assembly or component thereof.
  • Loss or damage occurred to insured property by pollution except for- i) pollution or contamination which itself result from the perils which is already insured against. ii) Any perils which is insured against results from the pollution or contamination.
  • Architect, consulting engineer and surveyor fees if exceeds maximum of 3% of insured amount.
  • Debris removal in excess of 1% of the total claim amount.
  • Any indirect losses or damage like loss of earnings, loss by delay, loss of market.
  • Loss or damage results from cessation of work, spoilage of material due to interruption in operation.
  • Loss or theft during or after the insured peril occurred except for strike, riot or other malicious damage cover.
  • Deconstruction or damage due to depreciation or other deterioration.
  • If compound wall or building is made up of ‘kutcha’ construction like bamboo boundry or usage plastic sheet/hay covering, wooden planks etc.

 Home Content Insurance

Home content insurance covers all the electronic items, jewellery, household appliances, furniture, against theft, burglary, fire accidents, mechanical or electronic breakdown, earthquake, lightning etc.

What is covered

Electronics & other household appliances

Household Contents

Jewellery

TV

Clothing

Jewellery worn by you

Refrigerator

Furniture

Jewellery worn by your family members

washing Machine

Curtains

 

Personal computer

Crockery

 

Air conditioner

fixture and fittings

 

Microwave oven, etc.

carpet, etc.

 

 

Key Features –

  • It covers all home contents and appliances.
  • It covers jewellery worn by policy holder and his family members up to Rs 1.5 lac.
  • You can get cover against perils such as earthquake, theft, flood, fire, lightning, electrical or mechanical breakdown etc.
  • Home appliance up to Rs 3 lakh can be covered.
  • Premium is very pocket friendly.
  • Fastest Issuance of policy documents within 5 minutes of completion of loan application formalities
  • Instantaneous cover commence as soon as the premium received by the company.
  • Claim settlement  process is fast and also ISO Certified
  • Royal Sundaram offers online home content insurance options to save your time and hassles of documentation
  • If you want any sort of information regarding policy or company, 24*7 online chat facility is available on their website. Where their executives are available online to provide you the assistance.
  • You can also call their toll free numbers and their executive will assist you further and provide you the full information regarding the procedures to apply for the loan. Their toll free number is- 18604250000.
  • Under Insta renew facility renewal of the policy can be done anytime and from anywhere. No need to roam around the branch you can renew your policy online at your ease.

Premium-

Royal Sundaram Home content Insurance plan provide three kinds of product under this scheme which is –Silver, Gold and Platinum plan. You can get cover from 4 lakh to 11.5 lakh under their various plans.

Plans

Coverage

Perils Covered

Silver
4 lakh

Gold
6.50 lakh

Platinum
11.50 lakh

 

 

1.5 lakh

2.5 lakh

5 lakh

Household contents: Linen, Clothings, Fixture and fittings, furniture, curtains, utensils and crockery

Fire and allied perils, EQ, Burglary

0.10 lakh

0.15 lakh

0.20 lakh

Limit per item

 

1.5 lakh

2 lakh

3 lakh

Household appliances: Fridge, washing machine, Microwave, VCR, DVD player etc

Fire and allied perils, Breakdown, Burglary

0.15 lakh

0.30 lakh

0.40 lakh

Limit per item

 

0.50 lakh

1 lakh

2 lakh

Television, Personal computer, AC

Fire and allied perils, Breakdown, Burglary

0.20 lakh

0.30 lakh

0.40 lakh

Limit per item

 

0.50 lakh

1 lakh

1.5 lakh

Jewellary

Fire and allied perils, Burglary, Snatching while worn in person

0.075 lakh

0.15 lakh

0.20 lakh

Limit per item

 

Rs 1412

Rs 2624

Rs 3833

14 % service tax includes in premium

 

Perils covered under Home Content Insurance:

Fire accidents

Earthquake/Fire and shock and other convulsions of nature

Lightning

Explosion or implosion

Theft, Burglary or snatching in case of jewellery

Riot or strike or other malicious damage

Storm , cyclone, Flood

Electrical and mechanical breakdown

Subsidence and Landslide including Rock slide

 

Exclusions:

Household Content-

  • First Rs 500/- for each & every claim.
  • Loss or damage by burglary and housebreaking where any of your family members involved as an accomplice.
  • Loss or damage caused by change in temperature.
  • To and fro cost of transport to repair shop.

Household Appliances-

  • First Rs 500/- for each & every claim.
  • Item which is 10 years old did not get damage cover under mechanical and electrical breakdown.
  • Loss or damage by burglary and housebreaking where any of your family member involved as an accomplice
  • To and fro cost of transport to repair shop.
  • Loss or damage due to defect in design, workmanship or defected material.
  • Loss of external antenna or fittings by theft.

Jewellery-

  • First Rs 500/- for each & every claim.
  • Loss or damage by burglary and housebreaking where any of your family members involved as an accomplice.
  • Damage to jewellery.
  • Loss during process of cleaning, dyeing or restoring.
  • Loss of bullions, loose gems not the part of jewellery.
  • Loss of jewellery while being carried as an accompanied baggage.

Electronic appliances-

  • First Rs 1000/- for each & every claim.
  • Item which is 10 years old did not get damage cover under mechanical and electrical breakdown.
  • Loss or damage by burglary and housebreaking where any of your family member involved as an accomplice
  • Loss or damage due to defect in design, workmanship or defected material.
  • Loss or damage arise out of dismantling or repair of insured item.
  • Loss or damage to palm tops or lap tops or printers.

Royal Sundaram Home Insurance- FAQs

1. How to pay a premium? What are the modes of payment available?

The Royal Sundaram Alliance Insurance Company offers 2 modes of premium payment namely:

  • Cash payment at the branch
  • Online Payment

For the online payment mode, the policyholder can pay via;

  • Credit Card
  • Debit Card
  • Net banking


2. How can I check policy status for Royal Sundaram home insurance?

If you a registred user, simply log into the website with your email id and password.
You can ask the same via toll free:1860-425-0000. Keep your policy details handy.


3. What is the policy renewal process for Royal Sundaram home insurance?

You can renew the policy online

Step1: Enter your Ploicy Number and Date of Expiry into e-portal
Step2: Calculate the premium
Step3: Select the payment option –Net Banking or Debit/Credit Card to pay
Step4: Upon successful payment completion print/save the premium deposit receipt
Alterantively, you can send an SMS to renew
For Non Motor Policies:
Type IRENEW <space> POLICY NO (16-digit) and send to 9230005727
For Motor Policies
Type MRENEW <space> POLICY NO (16-digit) and send to 9230005727


4. What is the company’s process to settle claim for Royal Sundaram home insurance?

For the claim you can intimate the company by filling a form online.

Alternatively, use the SMS service:
For Notifying your Health Claim:
Type HCLAIMS <space> POLICY NO (16-digit) and send to 9230005727
For Notifying your Motor Claim:
Type MCLAIMS <space> POLICY NO (16-digit) and send to 9230005727
Claims Status Enquiry:
Type HSTATUS <space> POLICY NO (16-digit) and send to 9230005727
You can email: customer.services@royalsundaram[dot]in or;
Toll free: 1860-425-0000
Royal Sundaram Alliance Insurance Company guarantees to settle the claims in 2 days, if all the documents are in order and no discrepancy is found.


5.
What is the policy cancellation process for Royal Sundaram home insurance?

You can visit the nearest branch with your policy documents and submit at the service counter. Once the process is complete the refund will be directly debited in your bank. For further inquiry, please call toll free: 1860-425-0000.

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