Overview of Bajaj Allianz Home Insurance

Bajaj Allianz home insurance policy is a type of property insurance provided by Bajaj Allianz General Insurance. The policy safeguards the insured property and its content against unforeseen risks, such as natural calamities, man-made disasters, etc. Read ahead to explore all about Bajaj Allianz's home insurance policies in details.

Bajaj Allianz Home Insurance

4.4 (120 reviews)
Get insurance for Home loan or Personal security in just 5 minutes.


Bajaj Allianz Home Insurance

4.4 (120 reviews)
Get insurance for Home loan or Personal security in just 5 minutes.
What’s covered?
Violent disturbance
Fire
Natural disasters
Policybazaar advantages
365 days support system
Easy claim process
Instant online policy issuance

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*The premium of ₹ 9/month is for a pucca building with sum insured of ₹ 5 lakh at selected locations, for property age less than 40 years and policy term of 1 year. Additional premium is payable for the optional covers including contents opted.

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**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*The premium of ₹ 9/month is for a pucca building with sum insured of ₹ 5 lakh at selected locations, for property age less than 40 years and policy term of 1 year. Additional premium is payable for the optional covers including contents opted.

Overview of Bajaj Allianz Home Insurance

Bajaj Allianz home insurance policy is a type of property insurance provided by Bajaj Allianz General Insurance. The policy safeguards the insured property and its content against unforeseen risks, such as natural calamities, man-made disasters, etc. Read ahead to explore all about Bajaj Allianz's home insurance policies in details.

Reasons to Buy Bajaj Allianz Home Insurance Plans

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

  • Home insurance plans cover losses from burglary, fire, and natural calamities.
  • The plans cover jewellery, valuable artwork and other valuables, too.
  • These plans provide full guardians for the property, contents (including portable equipment), and the interests of the insured individual and their family members.
  • All the plans come with attractive add-ons that help customize the plan.
  • Under specific plans, the benefit of renting an alternate accommodation is also applicable.
  • All plans come with low-cost premiums under the plans with rebates.
  • Under this plan, one can insure a flat/apartment/building, contents only, or both.
  • Bajaj Allianz General Insurance offers multiple home insurance plans to choose from.

Types of Bajaj Allianz Home Insurance Plans

Bajaj Allianz Home Insurance Bajaj Allianz Home Insurance
  1. Bajaj Allianz Householder's Package Plan

    The Householder's Package Plan by Bajaj Allianz is designed to protect the house and its contents against uncertainties and unforeseen circumstances.

    Features & Benefits of Bajaj Allianz Householder's Package Plan

    • Affordable Premiums
    • Attractive Rebates
    • The plan protects properties, electronic and domestic appliances, and the interests of the insured individuals and the family members.

    Coverage Under Bajaj Allianz Householder's Package Policy

    To understand what is covered and not covered in Householder's Package Policy, check out the below pointers:

    Inclusions

    The policy provides coverage in case damages or loss is incurred to the insured property due to the following instances:

    • Loss/damage due to storms, fire, earthquakes, etc.
    • Loss/damage due to theft & burglary.
    • Personal Accident (PA) cover available for the insured and their family members due to several unforeseen risks.

    Exclusions

    The policy does not offer any compensation to the policyholder in the following cases:

    • Loss/damage caused due to depreciation or wear and tear.
    • Loss/damage to contents of consumable nature, including LPG cylinders, grains, edibles, etc.
    • Consequential loss or any indirect loss incurred due to insured perils.
    • Loss/damage of cell phones or similar modes of communication.
    • Loss/damage to valuables, jewellery or precious items.

    *Disclaimer: Kindly refer to the policy wordings to understand the exact coverage of the Bajaj Allianz Householders Policy available on the insurer's official website.

  2. My Home Insurance Policy

    Bajaj Allianz My Home Insurance Policy is all risk policy, exclusively designed to provide comprehensive coverage to the home, its contents, and other valuables. It is an extensive cover offered at the most affordable price bracket.

    Key Features of Bajaj Allianz My Home Insurance Policy

    My Home Insurance policy is available for all homeowners, tenants, and landlords. Here is a list of coverage offered under it:

    • Contents cover
    • Portable equipment cover
    • Jewellery & valuables cover
    • Curios, artwork, and paintings cover
    • Burglary cover
    • Worldwide cover

    Bajaj Allianz My Home Insurance Add-ons

    To enhance the coverage of your Bajaj Allianz My Home insurance plan, here is a list of add-on covers available at the most affordable premium rates:

    • Loss of Rent Cover
      As a landlord or property owner, if your rental property gets damaged or destroyed due to insured perils, the tenant has to vacate the place. In such a case, the policy will compensate for the loss of rent until the time the insured property becomes fit to reside again.
    • Temporary Resettlement Cover
      If the insured home gets damaged due to fire, floods, etc., you need an alternate accommodation. The add-on cover compensates you for the transport and packaging costs.
    • Key & Lock Replacement Cover
      If the insured home is broken, or the keys to your house or vehicle get stolen, this add-on will compensate the locksmith's expenses.
    • ATM Withdrawal Cover
      If the insured gets robbed right after withdrawing money from the ATM, the policy reimburses the amount lost due to the robbery.
    • Lost Wallet Cover
      The policy covers the cost if the insured's wallet gets lost or stolen. In addition, it also covers the replacement cost for lost papers and cards that were present in the wallet.
    • Dog Insurance Cover
      The policy offers coverage for the pet dogs against death due to accidents/diseases contracted during the policy tenure.
    • Public liability cover
      If the insured uses or occupies a place for residential purposes and a third party gets injured or their property gets damaged, the policy offers optional coverage for public liability cover to fix those damages or covers medical expenses of third party.
    • Employees Compensation Cover
      In due course of employment, if an employee meets with an accident or disease, it can be covered with this Bajaj Allianz My Home Insurance add-on cover.

    Types of Bajaj Allianz My Home Insurance Policies

    There are 3 types of Bajaj Allianz My Home insurance plans explained below:

    1. Agreed Value Basis Plan-For Flat/Apartment.
    2. Reinstatement Value Basis Plan-For Flat/Apartment/Independent Building.
    3. Indemnity Basis Plan-For Flat/Apartment/Independent Building.

    Now, let's have an overview of each plan:

    My Home Insurance  Building Insurance (Structure)
    Agreed Value Basis (Flat/Apartment) Reinstatement Value Basis (Flat/Apartment/
    Independent Building)
    Indemnity Basis (Flat/Apartment/
    Independent Building)
    CONTENTS INCLUDING PORTABLE EQUIPMENT New for Old Basis (Excluding Jewellery & Valuables, Paintings, Work of Arts and Curios) PLATINUM PLAN-I
    Flat/Apartment Insurance-Agreed Value Basis + Contents-New For Old
    DIAMOND PLAN-I
    Flat/Apartment/Building- Reinstatement Value Basis + Contents-New for Old Basis
    GOLD PLAN-I
    Flat/Apartment/Building - Indemnity Basis + Contents-New for Old Basis
    Indemnity Basis (Excluding Jewellery and Valuables, Painting, Works of Arts and Curios) PLATINUM PLAN -II
    Flat/Apartment Insurance-Agreed Value Basis + Contents-Indemnity Basis
    DIAMOND PLAN -II
    Flat/Apartment/Building -Reinstatement Value Basis + Contents-Indemnity Basis
    GOLD PLAN -II
    Flat/Apartment/Building - Indemnity Basis + Contents-Indemnity Basis
    Portable Equipments Coverage Inbuilt Coverage for India
    Extension can be made on the payment of additional premium to cover worldwide. 
    JEWELLERY, VALUABLES, CURIOS etc. Jewellery, Valuable, Curios, Paintings & Work of Arts Inbuilt Coverage for India
    Extension can be made on the payment of additional premium to cover worldwide.
    ADDITIONAL BENEFIT Rent for Alternate Accommodation and Brokerage I) Rent for Alternate Accommodation
    a) 0.5% of the Flat/Apartment Sum Insured or
    b) Actual Rent whichever of (a) and (b) is less subject to a maximum of ₹ 50,000 per month, for the period until the Completion of Reconstruction or 24 months whichever is less.

    II) Actual Brokerage payable not exceeding one month’s rent
    I) Rent for Alternate Accommodation

    a) 0.3% of the Flat/Apartment Sum Insured or

    b) Actual Rent including Brokerage whichever of (a) and (b) is less subject to a maximum of ₹ 35,000 per month, for the period until the completion of Reconstruction or 24 months whichever is less.

    II) Actual Brokerage payable not exceeding one month’s rent
    Emergency Purchases Rs.20,000 or actual amount whichever is lower
    NOTE Options to Insure Insured has the Option to insure either Flat/Apartment/Independent Building Only OR Contents Only OR Both.
    POLICY PERIOD Options for Policy Period i) Short Term Policy up to 15/30/60/90/120/150/180/210/240/270 days
    ii) Annual Policy of 1 Year/2 Years/3 Years/4 Years/5 Years
    (Note: For all policies the policy period for all opted covers shall be identical)
    ADD ON COVERS Add On Cover for all Plans 1) Loss of Rent Cover
    2) Temporary Resettlement Cover
    3) Keys & Locks Replacement Cover
    4) ATM Withdrawal Robbery Cover
    5) Lost Wallet Cover
    6) Dog Insurance Cover
    7) Public Liability Cover
    8) Employee's Compensation Cover

    *Note: Standalone Cover for Jewellery & Valuables and/or Curios, Paintings & Work of Arts cannot be opted unless contents are insured.

    Eligibility

    • Owners of a flat/apartment/independent building less than 30 years of old and not a kutcha construction can purchase 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 available in the flat/ apartment/independent building.

    *Disclaimer: Kindly refer to the policy wordings to understand the exact coverage of the Bajaj Allianz My Home Insurance Policy available on the insurer's official website.

  3. Bharat Griha Raksha Policy

    As per the regulations of IRDAI, all general insurance providers have to offer a standard home insurance policy to protect the home building and contents. Bajaj Allianz designed a standard home insurance plan to protect the home building and its contents, commonly known as Bharat Griha Raksha Policy.

    Coverage Under Bharat Griha Raksha Policy

    The Bharat Griha Raksha plan will provide coverage for the following:

    • Fire caused by fermentation, natural heating, or spontaneous combustion. Spontaneous combustion is included in the base cover.
    • Explosion or Implosion
    • Lightning
    • Earthquakes, volcanic eruptions or other convulsions of nature. Earthquake is included in the base cover.
    • Subsidence of the land on which your premises stand, landslide, rockslide.
    • Impact damage of any kind, i.e., damage caused by impact or collision caused by any external physical object. Examples are Vehicles, falling trees, aircraft, walls, etc. The impact damage cover is extended.
    • Missile testing operations
    • Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Tsunami, Flood and Inundation. (No option to delete the cover).
    • Act of terrorism (Coverage as per terrorism clause attached) (Now added as a basic cover)
    • Bursting or overflowing of water tanks, apparatus and pipes.
    • Leakage from automatic sprinkler installations.
    • Theft within 7 days from the occurrence of and proximately caused by any of the above-insured events. (Now added a new cover)
    • Riot, strike, Malicious Damages. (No option to delete the cover)

    Bajaj Allianz Bharat Griha Sum Insured


    1. Sum Insured for the Building Structure

    The sum insured can be used to construct a home building at the policy commencement date.

    • For residential structure including fitting and fixtures: Carpet area of the structure in square meters X Rate of construction cost at the commencement date.
    • For additional structure: The amount is based on the prevailing rate of construction cost at the commencement date as declared by the insured and agreed upon by the insured.

    2. Sum Insured for Home Contents

    • Cost of Reinstatement/Replacement.
    • Content SI to be 20% of the home building SI subject to a maximum of ₹ 10 lakh if the home building is covered.
    • Option to choose higher SI for content declaring the same with details by paying an additional premium.
    • If only home contents cover is opted for, the insured has to announce SI for the general contents.

    Conditions Related to Sum Insured

    There are some conditions related to Sum Insured. They are as follows:

    • Insurance on a market value basis for building or contents is not permitted.
    • Each insurer shall necessarily capture the carpet area of the home building and define the cost of construction per unit carpet area at the policy commencement date to arrive at the SI of the building.
    • SI can be higher than the defied construction cost at the policy commencement multiplied by carpet area but not lower.
Home insurance

Bajaj Allianz Home Insurance Claim Processs

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

  • Household goods in transit: In cases where the damage is suspected, the carrier should insist upon open delivery and obtain their Certificate. In cases where the loss/damage in transit has occurred, 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, a 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, laboratory reports, and investigations reports. A Fitness Certificate from a Doctor is also necessary. A leave Certificate from the employer must be produced wherever it's essential.

*Disclaimer: Kindly refer to the policy wordings to understand the exact coverage of the Bajaj Allianz Bharat Griha Raksha Policy available on the insurer's official website.

Bajaj Allianz Home Insurance Customer Support

One can contact the company through the following ways:

  • One can call from any landline or mobile to the company's toll-free number for service-related issues.
  • One can write at customercare@bajajallianz.co.in
  • One can also fill out a simple online form post in which a call back will be given to the person, and the process will be taken forward.

Bajaj Allianz Home Insurance - FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 120 Reviews)
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Reviews & Ratings

4.4 / 5 (Based on 120 Reviews)
(Showing Newest 10 reviews)
Virendra
Bokaro, July 26, 2022
Coverage for natural calamity
I was looking for an insurance policy that provides me coverage for natural calamity. Since my house is located near a river and it floods my area in the rainy season. So i went on the Policybazaar website and particularly look for this coverage found the exact plan that provides this coverage.
Sunil
Bilaspur, July 26, 2022
Premium Calculation
I was looking for a home insurance policy online. I stumblled upon the Policybazaar website and it is one of the best online platforms to purchase home insurance policy. I learned about the insurance plan i wanted to purchase and after choosing the plan and add ons i could calculate the premium using their online premium calculator. Thanks Policybazaar.
Manish
Bikaner, July 26, 2022
Natural Calamity cover
I have recently purchased a flat and wanted to cover it with a home insurance policy. I was aware of the Policybazaar website so i thought i should give it a try. I went on their website and as i wanted to cover my flat with a natural calamity cover specifically i searched for it and without wasting a minute it showed me the natural calamity coverage.
Mohit
Amritsar, July 26, 2022
Enough coverage
I was looking for a home insurance plan online. I was fed up as i have to visit different websites to look for a single suitable insurance plan. However, i stumbbled upon Policybazaar website where i was able to find the right insurance plan that could provide me enough coverage.
Sahil
Bareilly, July 26, 2022
Nice customer service
I wanted to purchase a home insurance policy and a friend of mine suggested to purchase it from Policybazaar. I bought the policy and after that i had a confusion regarding exclusions so i called up Policybazaar customer care and they cleared out the confusion and i loved their customer service.
Jitendra
Ajmer, July 26, 2022
Qiuck claim
I purchased a home insurance policy recently. However, due to a natural calamity, my house was damaged as the pressure of the water because of flood broke the enterance door of my house. But the insurance plan that i bought got me covered and i as able to get the quickest claim possible.
Prashant
Delhi, July 26, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension free now.
Sharad
Kolkata, July 26, 2022
Wide coverage
The home insurance plan that i purchased from policybazaar's website is a great plan that provides me coverage for not only the structure but also cover several expensive content of the home such as paintings, mobile phones, laptops, television, etc.
Ravi
Ahmedabad, July 26, 2022
Suitable insurance plan
I purchased the group health insurance policy from Policybazaar website. First of all, i did not have to wander much online while lookig for a home insurance plan that fits my requirement and i found the suitbale home insurance plan by comparing different plans on the website.
Yashashvi
Amritsar, June 09, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension-free now.
  • Disclaimers+

    #Savings of 28% are based on the comparison between the highest and lowest premiums for a pucca building with sum insured of >₹ 1 crore at Delhi, for property age less than 5 years and policy term of 11 years.

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