Auto Increment of Sum Insured Under Bharat Griha Raksha Policy

Everybody cannot afford to purchase a comprehensive home insurance plan due to high premium rates. However, it is important to cover your home with home insurance because it is one of your most valued assets. In order to make sure that people can afford an insurance plan that can protect their homes in case of an unforeseen incident resulting in huge damage, IRDAI released guidelines to provide a Standard home insurance policy, Bharat Griha Raksha.

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What Is Bharat Griha Raksha Policy?

Bharat Griha Raksha is a basic home insurance policy. IRDAI issued specific guidelines for the insurance company to offer standard home insurance policies at affordable premium rates. This insurance plan is meant to cover residential properties. IRDAI made it compulsory for all general insurance providing companies to offer this standard plan and most of the insurers have started offering this plan from April 1, 2021.

Bharat Griha Raksha: Inclusions

Bharat Griha Raksha home insurance plan provides standard coverage to the policyholder. As per the IRDAI, this plan provides cover for the following:

  • Loss or damage caused by fire accidents
  • Loss or damage caused by explosion & implosion
  • Loss or damage caused by natural calamities such as earthquakes, storms, typhoons, landslides, hurricanes, volcanic eruptions, tornados, tsunami, etc.
  • Loss or damage caused by forest fire
  • Loss or damage caused by bush-fire
  • Loss or damage caused by external impact or collision such as aircraft, falling trees, vehicles, etc.
  • Loss or damage caused to the content of the home
  • If the insurance amount is capped at Rs. 10 lakh then 20% of the SI provided for the content of the home
  • Physical loss or damage caused to the property of the policyholder will be covered if reported within 7 days
  • In case of major damage, the associated cost is covered
  • 2% of the claim amount is provided for the reasonable cost

Bharat Griha Raksha: Exclusions

This insurance covers most of the common perils but several things are not covered under this policy. They are as follows:

  • Loss or damage of electric or electronic machine is not covered
  • Loss or damage of any apparatus is not covered
  • Loss or damage by over-running of any machine, arcing, self-heating is not covered
  • Particular machines are not covered under this policy

*For more details, go to the insurer’s website providing Bharat Griha Raksha Insurance plan.

Optional Coverage Provided Under Bharat Griha Raksha

The insurance companies provide optional cover with the in-built and basic cover. Under this plan there are two optional covers provided by the insurer:

1. On an agreed value basis, there is a cover for valuable contents like jewellery, etc.

2. Personal accident cover to the insured as well as spouse

However, if you have not opted for a sum insured more than Rs. 5 lakh then you do not have to submit a valuation certificate. In Bharat Griha Raksha, the additional premium for these add-ons cannot cross 50% of the basic premium amount.

Premium Rate of Bharat Griha Raksha Policy

After the guidelines were released by the IRDAI, many insurance companies have started offering cover at affordable premium rates. Here are some of the insurers and their annual premium rates to purchase Bharat Griha Raksha policy.

Under Bharat Griha Raksha, premiums for Rs 1 crore cover

Insurer Name

Annual Premium* (In Rupees)

New India Assurance


Bajaj Allianz







*Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Auto Increase of Sum Insured Under Bharat Griha Raksha

Inflation in the country is one of the major causes of increment in the cost of construction of your home. For instance, if you have constructed your house in Rs. 10 lakh in 2015, then due to inflation, the cost of reconstruction of your house in 2021 will be Rs. 15 lakh.

Bharat Griha Raksha policy provides an auto-increment of the sum insured that will increase the sum insured amount of your policy every year. This is an in-built feature and the sum insured will increase by 10% every year automatically during the policy tenure for a maximum of 10% of Sum insured.

There is a daily escalation of the sum insured amount under this policy. The sum insured increases each day by 1/365th of 10% of SI at the date of policy commencement.


In order to protect your house and purchase an affordable insurance plan, Bharat Griha Raksha would be a good choice. It has been provided by several insurance companies you can look it up online and learn about the inclusions, exclusions of the policy in detail. It would be beneficial for you to purchase the insurance plan online instead of offline.

Written By: PolicyBazaar - Updated: 09 September 2021