Valuable Content Cover in Bharat Griha Raksha Policy

Valuable Content Cover is an optional or add-on cover offered by Bharat Griha Raksha Policy to provide comprehensive coverage for valuables like jewellery, precious stones, cash, antiques, etc. Learn all about Valuable Content cover in BGR policy in detail.

What is a Valuable Content Cover in BGR Policy?

Valuable Content Cover in home insurance is an optional cover for high-value items typically kept within a home. It covers the most precious possessions of your home on an agreed-value basis under the Bharat Griha Raksha (BGR) policy. The insurer will pay the repair cost if the insured perils physically damage these items. However, the home insurance company will pay the sum insured for the item if there is a total loss.

In addition, the premium of this cover should not exceed 50% of the policy's basic amount.

What is Covered Under a Valuable Content Cover in BGR Policy?

This add-on cover protects your most treasured possession at a nominal additional premium. Here is a list of items covered under a valuable content cover:

Jewellery and Precious Stones: Rings, necklaces, bracelets, and other items made of precious metals and gemstones.
Antiques and Artwork: Valuable paintings, silverware, sculptures, and other collectables.

What are the Key Features of a Valuable Content Cover in BGR Policy?

Here are the salient features of Valuable Content Cover under the Bharat Griha Raksha (BGR) policy:

Comprehensive Protection: The cover offers wider protection against several unforeseen risks, such as fire, lightning, natural calamities, man-made disasters, etc., mentioned in policy documents.
Specified Items: The policyholders can choose the specific items by listing them according to their value to cover them financially.
Agreed Value Basis: This cover typically covers the contents of your house on an agreed value basis. This means the value of the contents is agreed upon between the policyholder and the home insurance company based on a valuation certificate.
Additional Premium: This coverage usually comes with paying a nominal extra premium for enhanced coverage.

What is the Importance of a Valuable Content Cover in BGR Policy?

Valuable Content Cover is crucial for homeowners who possess high-value items as it provides peace of mind knowing that their valuable assets are covered against a wide range of risks. Without it, the policyholder might face a significant financial loss in the event of damage or total loss of the specific item.

FAQs About a Valuable Content Cover in BGR Policy

What is the basis on which valuable contents are covered in the Bharat Griha Raksha policy?

The valuable contents of cover for valuable contents are covered on an agreed value basis under the Bharat Griha Raksha policy.
What are the types of items covered in Valuable Content Cover?

Valuable Content Coverage in your home insurance policy includes items like jewellery, precious stones and metals, gemstones, works of art, paintings, silverware, antiques, curious objects, sculptures, and other collectables.
What is the duration or validity of Valuable Content Cover under BGR policy?

The tenure or duration of this policy is available for a minimum of 1 year and a maximum of 10 years for both homeowners & tenants.