Bajaj Allianz Home Insurance

4.2 / 5 based on 24 User Reviews

Bajaj Allianz Home Insurance Overview

Bajaj Allianz General Insurance Company Limited is one of the India’s fastest leading general insurance companies in India. The company has shown its competence and expertise on various general insurance categories like travel insurance, motor insurance, home insurance, health insurance and many more. The company has also received several prestigious awards and one of the very recent one is the Best General Insurance Company Award in 2015 for the best practices followed. Here, we will discuss about the home insurance by Bajaj Allianz General Insurance Company.

Home is considered to be the biggest asset in any individual’s life and is definitely a much treasured possession and a precious venture, where one is attached to each other and a family is formed. Every moment spend in home/ house with family, friends, relatives are always memorable. Therefore, it’s extremely essential to protect this priced possession or this asset from any unanticipated situation which might occur at any point of time. Here comes Bajaj Allianz General Insurance which have comprehensive Home Insurance Plans which protects the house from all such risks or uncertainties.

Why one should avail Bajaj Allianz Home Insurance Plan ?

There are a number of reasons as to why one should avail Home Insurance Plans from Bajaj Allianz Insurance Company; these can be summarized as follows:

  • Home Insurance Plans covers the loss from burglary, fire and natural calamities.
  • The plans cover for jewellery, valuable art work and other valuables too.
  • This plan provides full guard to the property, contents (including portable equipment)and the interests of the insured individual and their family members.
  •  All the plans comes with attractive add-ons which help to customize the plan.
  • Under specific plans, a benefit of renting an alternate accommodation is also applicable.
  • All plans comes with low cost premium under the plans with rebates.
  • Under this plan, one can insure flat / apartment/ building or contents only or both as well.
  • Various plans are there to choose.

Householder’s Package Plans

It’s a plan which is designed to protect the house and its contents against the uncertainties and unforeseen circumstances.

Features and Benefits

  • Affordable Premiums.
  • Attractive Rebates.
  • The plan provides protection for properties, electronic and domestic appliances and the interests of the insured individuals together with the family members.

What is covered

Fire and Allied Perils : This includes the following:

  • Fire
  • Explosion/ Implosion
  • Lightning
  • Aircraft Damage.
  • Riots, Strike and Malicious Damage.
  • Storm, cyclone, Typhoon, Hurricane, Flood, Tornado, Tempest and Inundation.
  • Subsidence and Landslide which includes Rockslides as well.
  • Impact Damage.
  • Water Tanks, apparatus and pipes bursting or overflowing.
  • Bush Fire
  • Leakage from Automatic Sprinkler Installations.
  • Earthquake.
  • Exclusion:  5% of the claim amount for every claim arising out of Act of God perils.

     Damage due to terrorist activities.

  • Burglary and Theft : This plan covers the following:
    • Damage due to thefts and housebreaking.
    • Protection on First Loss basis.
    • Exclusion:  Loss of livestock, motor vehicles, pedal cycles and money stamps unless declared.

Burglary or housebreaking where the main person involved is ay member of the    insured’s family.

  • Jewellery and Precious Items: Here the valuation certificate is needed to cover the jewellery and the precious items.
  • Breakdown of Domestic Appliances : This plan covers the following:
    • Repair or replacement cost which occurs due to unanticipated mechanical or electrical breakdown of domestic appliances (excluding AC).
    • Optional Coverage which includes air conditioners are covered by payment of additional premium for Rs 10 per Rs 1000 of Sum Insured.
    • Exclusions are negligence on the part of the insured, loss or damage caused due to wear and tear, loss or damage for which the manufacturer or the supplier is responsible, mobile phones or similar mode of communication
  • Electronic Equipment : This plan covers the following:
    • Unanticipated Repair or replacement cost which occurs in electrical appliances by any unexpected and sudden physical loss.
    • Exclusions are manufacturing defect, loss or damage caused due to wear and tear, gradual deterioration, climatic conditions, rust, corrosion, cost incurred for functional failures which is the result of the negligence of the insured person.
  • Baggage : This plan covers the accidental loss or damage caused due to personal baggage which the insured person or his family member carries while travelling anywhere in India.
  • Plate Glass: This plan covers the loss of the accidental breakage of the Plate Glass which is fixed at the premises. The full details and the value of the same needs to be furnished.
  • Exclusions are breakage at the time of repair, alterations, or repairs, glass not fixed accurately,
  • Pedal Cycles: This plan covers all the related risks for the Pedal Cycles including third party liability arising out of pedal cycle is also covered.
  • Exclusions are any loss or damage incurred outside India. Damage to accessories by theft if the same is tolen.
  • Personal Accident Insurance: This plan takes care of the accidents and unforeseen circumstances resulting in huge financial loss. Details of each person together with the amount insured needs to be mentioned.
  • Personal Liability/ Workmen’s Compensation: This plan takes care of the accidents and unforeseen circumstances which occur to the third party.

One can avail Group Discount under the Householder’s package Plan which can be taken if one opt for more sections. For 5-6 sections it is 15% on all sections except Section 1 and 7 or more its 20% on all sections except Section 1.

Exclusions:

No indemnity is allowed in the following situations:

  • Loss or damage caused due to depreciation or wear and tear.
  • Damage to contents of consumable nature.
  • Consequential loss of any kind or description.
  • Loss/ damage of cell phones or similar mode of communication.
  • Loss/ damage to valuables, jewellery or precious items.

Plans under Bajaj Allianz Home Insurance Plan

There are 3 plans under Bajaj Allianz Home Insurance Plan which are as under:

  • Agreed Value Basis  Plans– For Flat/ Apartment.
  • Reinstatement Value Basis Plans– For Flat/ Apartment/Independent Building.
  • Indemnity Basis Plans– For Flat/ Apartment/Independent Building.

For complete protection, the company also provides attractive Add On Covers or plans which are as follows:

  • Loss of Rent: One is indemnified for the loss of monthly rent for the time chosen when purchasing the plan.
  • Temporary Resettlement Cover: In case of fire, the plan takes well care of the temporary resettlement cost which includes transportation and packing.
  • Keys and Lock Replacement Cover: This plan also covers the cost where the residence or vehicle keys are lost or stolen or broken. Also in case of theft the same is reimbursed.
  • ATM Withdrawal Recovery Cover: Under this plan, one can get the coverage for the loss of withdrawn money through ATM in India. Actual medical expenses also can be covered which might occur due to some unforeseen injuries.
  • Loss Wallet Cover: This plan covers the replacement cost of the stolen wallet including the papers and cards present in the wallet. Coverage of the application fees for applying cards and papers are also reimbursed.
  • Dog Insurance Cover: Pet dogs insured against death due to accident / diseases contracted.
  • Public Liability Cover: Coverage for civil claims.
  • Employees Compensation Cover:  In due course of employment, if an employee met with an accident or disease , the same is also covered under this plan.

Now let’s have an overview of each and every plan:

Agreed Value Basis – For Flat/ Apartment

  • Under this plan, Platinum Plan I is there, where for Flat/ Apartment its upon the Agreed Value Basis + Contents – New for Old (For Contents Up to 5 years )
  • Under this plan, Platinum Plan II is there, where for Flat/ Apartment its upon the Agreed Value Basis + Contents – Indemnity Basis.
  • Portable Equipment Coverage: For India it’s Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
  • Jewellery and Valuables: For India its Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
  • Rent for Alternate Accommodation:  its 0.5% of the Flat/ Apartment Sum Insured or the actual rent whichever is less subject to a minimum of Rs 50000/- per month for the period until the Completion of Reconstruction or 24 months whichever is less.
  • Options to insure: Under this plan, one can insure flat / apartment or contents only or both as well.
  • Policy periods can be 1 year, 2 years and 3 years.
  • Add On Cover under the plan is applicable will be as follows:
    • Loss of Rent.
    • Keys & Locks Replacement Cover.
    • Loss Wallet Cover.
    • Dog Insurance Cover.
    • Public Liability Cover.
    • Employee’s Compensation Cover.
    • Temporary Resettlement Cover.
    • ATM withdrawal robbery cover.

Reinstatement Value Basis– For Flat/ Apartment/Independent Building

  • Under this plan, Diamond Plan I is there, where for Flat/ Apartment/Building its upon the reinstatementValue Basis + Contents – New for Old (For Contents Up to 5 years )
  • Under this plan, Damond Plan II is there, where for Flat/ Apartment/Building its upon the reinstatementValue Basis + Contents – Indemnity Basis.
  • Portable Equipment Coverage: For India it’s Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
  • Jewellery and Valuables: For India its Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
  • Rent for Alternate Accommodation:  its 0.3% of the Building Sum Insured or the actual rent whichever is less subject to a minimum of Rs 35000/- per month for the period until the Completion of Reconstruction or 24 months whichever is less.
  • Options to insure: Under this plan, one can insure flat / apartment/independent building or contents only or both as well.
  • Policy periods can be 1 year, 2 years and 3 years.
  • Add On Cover applicable will be as follows:
    • Loss of Rent.
    • Keys & Locks Replacement Cover.
    • Loss Wallet Cover.
    • Dog Insurance Cover.
    • Public Liability Cover.
    • Employee’s Compensation Cover.
    • Temporary Resettlement Cover.
    • ATM withdrawal robbery cover.

Indemnity Basis– For Flat/ Apartment/Independent Building

  • Under this plan, Diamond Plan I is there, where for Flat/ Apartment/Building its upon the reinstatementValue Basis + Contents – New for Old (For Contents Up to 5 years )
  • Under this plan, Gold Plan II is there, where for Flat/ Apartment/Building its upon the IndemnityValue Basis + Contents – Indemnity Basis.
  • Portable Equipment Coverage: For India it’s Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
  • Jewellery and Valuables: For India its Inbuilt and Coverage Extension On Payment of Additional Premium for Worldwide.
  • Options to insure: Under this plan, one can insure flat / apartment/independent building or contents only or both as well.
  • Policy periods can be 1 year, 2 years and 3 years.
  • Add On Cover applicable will be as follows:
    • Loss of Rent.
    • Keys & Locks Replacement Cover.
    • Loss Wallet Cover.
    • Dog Insurance Cover.
    • Public Liability Cover.
    • Employee’s Compensation Cover.
    • Temporary Resettlement Cover.
    • ATM withdrawal robbery cover.

Eligibility

  • Owners of a flat/ apartment/ independent building less than 30 years of old and not a kutcha construction can apply for these plans including the contents/ jewellery and valuables.
  • Tenants and other non-owners of a residential house can also insure the jewellery and the contents and valuables in the flat/ apartment/ independent building.

Home Insurance Claim Process

There are two ways of Home Insurance Claim process which are as follows:

  • Household goods in transit: Cases where the damage is suspected in transit, open delivery should be insisted upon the carrier and their certificate should be obtained. Cases where the loss / damage in transit has taken place, a monetary claim should be lodged with the carrier within the prescribed time to protect recovery rights, without which the claim might not be processed.
  • Health Guard Insurance Claim- Non Cashless Claims:  Within 24 hours, notice of claim should be intimated. The insured person has to submit the discharge summary of the hospital/ nursing home with the original hospital/ medical bills, reports of the laboratory and the investigations reports. Fitness Certificate from Doctor is also necessary. Leave Certificate from the employer needs to be produced wherever its essential.

Customer Support

One can contact the company through the following ways:

  • For service related , one can call from any land line and mobile to the toll free number of company.
  • One can write at customercare@bajajallianz[dot]co[dot]in
  • One can also fill up a simple online form post which a call back will be given to the person and the process will be taken forward.

Bajaj Allianz Home Insurance - FAQs

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

Bajaj Allianz Home Insurance offers 3 modes of premium payment namely:

  • Cash/ cheque payment at the branch
  • Online Payment
  • ECS

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

  • Credit Card
  • Debit Card
  • Net banking

2. How can I check policy status for Bajaj Allianz Home Insurance?

Registered users can check their policy staus online. Simply login on the e-Portal with your User ID and password to check policy status.
Alternatively, you can download mobile application “Customer Portal” from Bajaj Allianz Portal and then enter the policy details to chcek the status.

3. What is the policy renewal process for Bajaj Allianz Home Insurance?

Renew your policy online in steps
Step 1: Login with the username and password onto the e-Portal
Step 2: Select the policy details and payment mode: Debit/Credit Card or Net Banking
Step 3: Print/Save the cyber recipt of premium payment

4. What is the company’s process to settle claim for Bajaj Allianz Home Insurance?

You can download the claim from online, fill it and submit with revelant documents at any of the branch locations in your city.
Upon proper scrutiny Bajaj Allianz General Insurance company will reimburse the claim within 30 days.

5. What is the policy cancellation process for Bajaj Allianz Home Insurance?

You must submit the policy documents and a duly filled surrender form at the nearest branch location in your city. It would take a couple of days to refund the premium and cancel the policy.

Bajaj Allianz Home Insurance Reviews

TOTAL REVIEWS (24)
Jiten
Rajkot
July 29, 2016

Normal Insurance Plan

I took my father's advice and buy home insurance plan from bajaj allianz insurance. Policy coverage is high approx. ninty percent. Claims are high and premiums are less. Reimbursement is there for lost items from natural calamities or theft, burglary etc.

Denesh
East_midnapore
July 21, 2016

Home Insurance

Bajaj home insurance is the one which facilitate the best facilities. Premium is less but the returns are high. Policy covers maximum expenditure at any loss or recoveries. The burglary, theft, etc are reimbursable by the company. Good insurance policy which reduces tax also.

Garima
Durgapur
July 01, 2016

Power Insurance Plan

The home insurance policy plan i have which is gifted by my grandfather. The terms and conditions are really very good and flexible. Policy coverage is high and premium is very low. The valuable items and belongings are insured in the plan. Good security for my family and for the house.

Saurabh
Asifabad
June 24, 2016

Good Plan

My home insurance plan is the best which come's in low premium. The policy cover's many belongings like valuable items, and yes house is included too. Service is fantastic which given by executives and staff members. The internet renewal is also there and easy to operate.

Aarav
Jaisalmer
May 26, 2016

Fantastic Plan

Good home plan provided by bajaj allianz general insurance. The premium is low and claims are good. Claims easily sanctioned due to fast service facilitate by executives and staff members. This plan covers the accidental loss or damage caused due to personal baggage which the insured person or his family member carries while travelling anywhere in India. I like the policy.

Devesh
Ratlam
May 26, 2016

Excellent Work

I have bajaj allianz home insurance plan. All plans comes with low cost premium under the plans with rebates. Plan covers the loss from burglary, fire and natural calamities. The plans cover for jewellery, valuable art work and other valuables too. Policy coverage is high. Great service.

Eshu
Jorhat
May 26, 2016

Best Policy

The bajaj allianz home insurance plan is not what I expected. The service is slow and the premium is high. Policy coverage is low and claims take much time to sanctioned. Please improve the policy and yes the internet service is okay.

Raftar
Kolkata
May 26, 2016

Trustworthy

I buy bajaj allianz home insurance plan. The policy coverage is high and premium is low. Service is fast and behaviour is very well shown by the executives and staff members. Home insurance plans covers the loss from burglary, fire and natural calamities. Good investment, I like it.

Nitin
Noida
May 26, 2016

Super Plan

My bajaj allianz home insurance plan has low premiums. The policy coverage is high and claims are even better. Service facilitate by the executives and staff is perfect and the behaviour is good with customers. Good investment which save taxes too.

Vinay
Dwarakanagar
May 26, 2016

Damn Good

The policy I have has many benefits and recoveries from fire and allied perils, Burglary and theft, Jewellery and precious items, Breakdown of domestic appliances, Electronic equipment, etc. Bajaj allianz home insurance pan is great policy.

Bhavya
Haridwar
May 26, 2016

High Returns In Low Premium

Bajaj allianz home insurance plan I purchase and happy with it service. The premium is low and the policy coverage is high ~90%. Service is fast and on time which provided by the executives and staff of the company. Good future investment which reduces my taxes too. Good work.

Chandan
Panipat
May 26, 2016

Good Service

I'm really happy with my bajaj allianz home insurance plan. The policy coverage is high and the claims are even better. Premium is low. The plan insure from burglary, housebreaking, thefts, etc. The service facilitate by the executives and staff members is very fast and on time. I must say, Great plan. I like the policy.

Yashu
Bareilly
May 26, 2016

Power Plan

Got really very nice policy i.e., bajaj allianz home insurance plan. The premium is low and the policy coverage is high ~89%. Home insurance plans covers the loss from burglary, fire and natural calamities. The plans cover for jewellery, valuable art work and other valuables too. Executives facilitate good service.

Tanisha
Palwal
May 26, 2016

Responsive Faculty

The bajaj allianz home insurance is good policy. Premium is low and policy coverage is high. This plan covers damage due to thefts and housebreaking. For jewellery and precious Items the valuation certificate is needed to cover the jewellery and the precious items. Great service, I like the policy.

Rohit
Jalpaiguri
May 26, 2016

Awesome

My home insurance plan is good and it has good number of benefits. The premium is low and the policy coverage is high. The plans cover for jewellery, valuable art work and other valuables too. All the plans comes with attractive add-ons which help to customize the plan. I must say, good job guys.

Lokender
Yashwant_nagar
May 26, 2016

Poor Policy

The bajaj allianz home insurance plan is not that good as expected. The premium is good and coverage is low. No recovery from burglary and natural calamities. The service is slow and claims are not good. Please improve the plan or I may have to change the policy.

Kartik
Ghaziabad
May 26, 2016

Future Security

My father want to purchase home insurance plan for our house. After long searching I found bajaj allianz general insurance which provide us many benefits, so I took the home insurance plan. Home insurance plan covers the loss from burglary, fire and natural calamities. The plan protect for properties, electronic and domestic appliances and the interests of the insured individuals together with the family members. Now my whole family is happy with the policy.

Japindra
Rajanagar
May 26, 2016

Perfect

My bajaj allianz home insurance plan is awesome. The policy protect the properties, electronic and domestic appliances and the interests of the insured individuals together the family members. Policy coverage and claims are high and premium is low. I like the policy.

Harminder
Mahabaleswar
May 26, 2016

Great Policy

Have a policy like everyone has, I buy bajaj allianz home insurance plan. Policy is good with different benefits like low premiums and payback returns are high. Home insurance plans covers the loss from burglary, fire and natural calamities. The plans cover for jewellery, valuable art work and other valuables too. Great work.

Gaurav
Meerut
May 26, 2016

Above Average

The policy I have is bajaj allianz home insurance plan. The policy has many benefits. Home insurance plans covers the loss from burglary, fire and natural calamities. The plans cover for jewellery, valuable art work and other valuables too. Policy coverage is high and premium is low. Claims are good and easily sanctioned because fast service facilitate by executives.

Deepshikha
Greater_noida
May 26, 2016

Tax Saver

Bajaj allianz home insurance plan is the best. Policy coverage is high and the premium is low. Service is fast and the behaviour of the executives and staff is good. The Plans covers the loss from burglary, fire and natural calamities. Good policy which gives reduction in taxes.

Sandeepa
Ahmedabad
May 26, 2016

Fair Policy

Finally got a good home insurance plan from bajaj allianz general insurance. Policy coverage is good ~89% and the claims are high. Premium of the plan is low which is good point. The service provided by the staff of the company is really very fast and on time. Nice policy and fair terms and conditions.

Abhinav
Mangalore
May 26, 2016

Good

I purchase bajaj allianz home insurance plan which is very nice. The service is good which provided by the executives and due to this claiming get easy. Policy coverage is high and premium is low. Claims are good, many belongings are insure in this plan with house. Good investment, I like the policy.

Gaurav
Jaipur
May 12, 2016

Wonderful Policy

My bajaj allianz home insurance is the best plan. The policy coverage is 87%. Premiums is low and the claims are high even the claiming process is simple due to fast service facilitate by the executives and company members. The house is secure from natural disasters and maximum refund is sanctioned. Good terms and conditions.