Features and Benefits of Bharti AXA Home Insurance
Buying a house or building one is always special. Doing so requires a big investment and most people are able to afford it after years of savings or by taking a home loan. Moreover, you put in extra effort into designing the house and choosing everything, from furniture to curtains, as per your liking. With so much efforts and money involved, the last thing you would want is to see your house damaged or its contents destroyed in the event of a calamity. This is where home insurance, such as Bharti AXA home insurance, steps in to protect your home & its contents while allowing you to sleep peacefully at night.
Take a look at some of the most interesting features and benefits of buying Bharti AXA home insurance:
- Covers buildings as well as home contents
- Available to both homeowners and tenants
- Jewellery or valuables covered pan India
- Personal accident cover for the entire family
- Coverage for up to 3 pedigree pets
- 10% increase in sum insured on newly-purchased household items
- Covers alterations and improvements to the building for up to 10%
- Claim settlement within 10 days
- Reinstatement of the sum insured
Inclusions of Bharti AXA Home Insurance
Bharti AXA property insurance covers any loss or damages arising out of the following risks:
- Fire & Allied Perils– It covers any loss or damages to the building structure, contents, fittings and fixtures of the house due to the following reasons:
- Explosion/ implosion
- Aircraft damage
- Natural disasters, such as earthquake, floods, bush fire, rockslides, etc.
- Manmade hazards, such as malicious damage, riots and strikes
- Impact damage
- Automatic sprinkler leakage
- Missile testing operations
- Overflowing/ bursting of water apparatus, pipes or tanks
- Burglary, Housebreaking & Theft - It covers the home contents against any loss due to burglary, theft, housebreaking and hold-up.
- In-Transit Household Goods - Bharti AXA property insurance compensates for the loss or damages to household goods and appliances while being transported by packers movers from the old house to the new house.
- Jewellery & Valuables – It covers any loss or damages to the jewellery or valuables arising out of burglary, robbery, housebreaking, theft, snatching or waylaying anywhere in India.
- Loss of Documents – It covers any expenses incurred on obtaining the replacement of loss documents such as passport, title deeds, etc.
- Breakdown of Domestic Appliances – Bharti AXA property insurance covers any expenses or losses incurred due to breakdown of domestic home appliances including electronic appliances, such as laptop and personal computer.
- Personal Accident Cover – It covers the policyholder and his family members against any accidental injuries leading to their disablement or death. In addition to the compensation, it also provides education fund towards the dependent children of the policyholder up to 23 years of age.
- Additional Rent for Alternate Accommodation – Bharti AXA will pay for any expenses incurred towards the payment of additional rent for an alternate accommodation taken up by the policyholder in case the insured house has been damaged or destroyed due to fire & allied perils.
- Loss of Rent – It covers any loss of rent incurred by the policyholder if the insured house or part of the building has been deemed unfit for residency or occupation following damages due to fire & allied perils.
- Pedigree Pet Cover – Bharti AXA home insurance provides compensation in case of theft or accidental death of up to three pedigree pets.
- Legal Liabilities – It covers any legal liability of the policyholder towards his employees or domestic servants in case they get injured or die while working in the house. It also takes care of any third party liabilities of the policyholder in case of accidental property damages or bodily injuries to the third party.
- Loss of Baggage – It will compensate for the loss or damages to any accompanied baggage of the policyholder or his family members while travelling anywhere within India.
- Locks and Keys – Bharti AXA property insurance indemnifies any accidental loss or damages to the lock and keys of the house.
- Fixed Plate Glass & Sanitary Ware – It covers any loss or damages to the fixed plate glass as well as sanitary ware in the insured house.
- Fire Extinguishing Expenses – It provides reimbursement of any expenses incurred on extinguishing the fire in the house.
Optional covers refer to those covers that the homeowner or the tenant has to opt for under his Bharti AXA home insurance policy on paying a higher premium amount. Bharti AXA property insurance offers the following optional cover:
- Terrorism Damage Cover – It covers any loss or damages caused to the contents of the house directly or indirectly due to an act of terrorism.
Exclusions of Bharti AXA Home Insurance
Any claims arising out of the following risks or situations will be rejected under the Bharti AXA home insurance policy:
- War – Any loss or damage to the house or its contents due to war, civil war, invasion, revolution or events of similar nature is not covered.
- Fragile article damage - Cracking, scratching or breakage of lens in respect of articles of brittle and fragile nature is not covered.
- Negligence – It does not cover any loss or damages to the home appliances due to the negligence of the policyholder or his family members.
- Intentional Damages – This policy will not cover any intentional damages or losses incurred on household appliances.
- Nuclear Perils – It does not cover any damage or destruction to the house caused due to nuclear radiation, contamination, etc.
- Consequential Loss – Any kind of consequential loss or damages after the occurrence of peril are not covered under this Bharti AXA home insurance policy.
- Pollution – This policy does not cover any loss or damages to the house resulting out of contamination or pollution.
- Volcanic Eruption – It does not cover any loss or damages caused to the house due to a volcanic eruption.
- Gradual Wear & Tear – It will not cover any gradual wear & tear of the home appliances or depreciation in their value.
- Kutcha Construction – It does not cover any houses or buildings made of kutcha construction.
Who Can Apply for Bharti AXA Home Insurance?
The following people can buy Bharti AXA property insurance:
- Homeowners or people who reside in houses owned by themselves
- Tenants or people who stay in a rented place
- Occupants of houses located within India
Claim Procedure for Bharti AXA Home Insurance
If in an unfortunate event your house gets damaged or destroyed, you should immediately contact Bharti AXA and register a claim with them. The procedure to file a claim with Bharti AXA home insurance is very simple. Mentioned below is the step-by-step procedure of raising a claim with Bharti AXA home insurance:
- Inform the help desk of Bharti AXA about the unfortunate event via email or phone
- You have to provide details such as policy number, nature & extent of the loss, date, time & location of the loss, etc.
- Bharti AXA may send a surveyor to take an account of the damages or losses incurred
- Submit all the required documents to the insurer
- The surveyor will submit his assessment report to the insurer
- Bharti AXA will verify your claim based on the documents submitted and the assessment report
- The Company will release the payment of the claim amount within 10 days
Remember not to get the damaged house cleaned or renovated unless the surveyor has visited the location.
Documents Required to Register a Claim
The policyholder may be required to submit the following documents while registering a claim with Bharti AXA home insurance:
- Duly signed home insurance claim form
- Contact details of the policyholder
- Policy document
- Proof of house ownership
- Police FIR (in case of burglary and third party liability claims)
- Tenant rent agreement
- Estimated repair/ renovation bill
- Repair bill of damaged goods
- Purchase invoice of replaced goods
- Fire brigade report
- Final police investigation report
- Final repair/ renovation bill
- Details of bank account
- Evidence of rent expenses for the alternate accommodation
- Legal court notices or summons (if any)
Bharti AXA Home Insurance Renewal Process
It is important to timely renew your Bharti AXA home insurance policy to maintain the coverage on your house. Anyone can easily renew their Bharti AXA property insurance policy by following the simple steps given below:
- Visit the home insurance page on the website
- Fill up the form with details of your house
- Enter the details of your existing home insurance policy
- Provide your contact details such as name, location, phone number
- Review the details of your Bharti AXA home insurance policy
- Pay the renewal premium amount online
- Bharti AXA will renew your property insurance policy
Bharti AXA Home Insurance FAQs
Personal accident cover under Bharti AXA home insurance provides protection to a maximum of two dependent children of the policyholder up to 23 years of age besides himself and his spouse.
Bharti AXA will cover the cost of surgical operation of your dog only if the injury or condition had resulted out of an accident and the surgery is crucial to save the life of the pet. However, make sure that the surgery is conducted by a qualified veterinary surgeon.
Bharti AXA property insurance will cover the rent expenses for using alternate accommodation for a maximum of six months and up to the sum insured mentioned in the policy.
No. Bharti AXA does not provide coverage for any loss or damages caused due to forest fires under its home insurance policy.
Bharti AXA will cover any loss or damage to the home contents and valuables on first loss basis under its home insurance policy.
Yes. You will have to appoint a nominee while buying home insurance from Bharti AXA as your nominee will be legally entitled to receive any compensation or claim amount from the insurer in case of your death.
No. If you sell the insured house during the policy term, your home insurance policy will not be transferred to the new owner of the house but will stop existing once the sale becomes live.