Overview of Chola MS Bharat Griha Raksha Policy

Chola MS Bharat Griha Raksha Policy is a basic home insurance cover that offers financial coverage for the loss, damage, or destruction to your building structure and/or home contents against several perils. The policy covers residential properties in India at the most affordable premium rates.

Chola MS Bharat Griha Raksha Policy

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


Chola MS Bharat Griha Raksha Policy

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 Chola MS Bharat Griha Raksha Policy

Chola MS Bharat Griha Raksha Policy is a basic home insurance cover that offers financial coverage for the loss, damage, or destruction to your building structure and/or home contents against several perils. The policy covers residential properties in India at the most affordable premium rates.

Chola MS Bharat Griha Raksha Policy: Key Features

Categories Key Benefits
Policy Tenure 1-10 years
Buildings Covered Residential Properties
Key Specifications* Offers coverage for the 14 insured events
Protects more than the building structure
Affordable premiums
Inbuilt auto escalation 10% for building Sum Insured (SI)
Coverage* In-built cover for loss of rent
Rent for alternative accommodation
Removal and clearance of debris up to 2% of the claim amount
In-built coverage for professional fees towards surveyors, consultants, architectures, and engineers up to 5% of the claim amount
Policy Cancellation Available

*Disclaimer- This table is for illustration purposes only. Kindly go through the policy wordings to understand the exact coverage and its benefits available on the official website of the insurance provider.

Add-on Covers in Chola MS Bharat Griha Raksha Policy

Add-on covers provide extra coverage to the insured home by paying a little extra premium amount. Under Chola MS Bharat Griha Raksha Policy following add-ons are available-

  1. Valuable Contents Cover

    With the help of this cover, you can insure your valuables up to the agreed value. However, you and the insurer have to agree upon a Sum Insured (SI). Along with this, a valuation certificate is needed in case the SI is more than Rs. 5 Lakh. However, there is no need of this valuation certificate if the SI is up to Rs. 5 Lakh and the cost of an individual item value does not exceed Rs. 1 Lakh.

  2. Personal Accident Cover

    The PA cover in Chola MS Bharat Girha Raksha policy offers coverage in case of the unfortunate death of the insured or their spouse. The policy offers compensation of Rs. 5 Lakhs per person.

Inclusions of Chola MS Bharat Griha Raksha Policy

The Chola MS Bharat Griha Raksha policy ensures that your insured property is covered against several risks. Below is a list of inclusions for which the insured gets compensation for the loss or damage-

  • Coverage for the losses caused due to fire, explosion, or implosion
  • Loss or damage caused due to subsidence, landslide, and rockslide
  • The destruction caused due to different types of fire, including jungle fire, bush fire, and forest fire
  • Damage caused due to bursting or overflowing of water tanks, pipes, and apparatus
  • Loss/damage caused due to acts of terrorism
  • Destruction/damage caused due to missile testing operations, strikes, riots, and malicious damage
  • Loss or damage caused due to earthquakes, cyclones, storms, tempests, typhoons, hurricanes, tornadoes, tsunamis, floods, and inundation
  • Loss to the insured building or its content due to theft within 7 days from the occurrence of any of the above-mentioned perils
  • Coverage for removal of debris up to 2% of claims
  • Covers the architect and engineer's fees up to 5% of the claim amount to repair/redesign the damaged property
  • In-built coverage for the loss of rent and rent of alternative accommodation if the insured property cannot accommodate due to a physical loss.

Exclusions of Chola MS Bharat Griha Raksha Policy

The Chola MS Bharat Griha Raksha policy does not entertain in case of the following instances-

  • Any deliberate act causing physical loss to the insured property
  • Loss due to war, the act of foreign enemy hostilities, invasion, civil war, mutiny, or war-like operations
  • Loss/damage/destruction due to overrunning, short-circuiting, arcing, excessive pressure, short-circuiting, self-heating, or leakage of an electrical machine, apparatus, fixture, and fitting
  • Loss or damage to the missing insured home content whose disappearance cannot be linked to any single identifiable event
  • Any loss due to radiation or contamination from nuclear waste and radioactivity
  • Any loss or damage due to pollution or contamination from any of the insured event
  • Any damage caused to unset precious stones, bullion, manuscripts, securities, drawings, cheques, cash, coins, vehicles, and other explosive substances
  • Any fees, costs, and expenses needed for preparing any claim
  • No coverage in case there is a reduction in the market value of the insured property once after the reinstatement or repair is done
  • Any loss or damage to the insured property or home contents that are removed from the insured place to any other place.

* Disclaimer- Kindly go through the policy wordings to understand the exact policy inclusions and exclusions.

Other Added Benefits

This policy protects more than just a building structure as it covers additional structures, like-

  • Garage, parking spaces, or outside area used for residence
  • Fences, gates, compound walls, and retaining walls
  • Porch or verandah area
  • Solar panels, air conditioning systems, central heating systems, and wind turbines
  • Biogas plants, fixed water storage units, septic tanks, and water tanks.

You may also read- Go Digit Bharat Griha Raksha Policy

How to Calculate Sum Insured (SI) in Chola MS Bharat Griha Raksha Policy?

Using the below formula, you can easily calculate the SI insured for your building structure and its content-

  1. Building Structure

    SI for Building Structure = Carpet Area (in SQMTRS) x Construction Cost (as per unit area at the commencement of policy)

    *Both components are declared by the customer and agreed upon by the insurer.

  2. Home Content

    SI for Home Content = In-built coverage if both building structure and contents coverage have opted 20% of Building SI or Rs. 10 Lakhs whichever is less.

    Moreover, you can also opt for a higher Sum Insured by declaring general content to the insurance provider.

Who Can Purchase Chola MS Bharat Griha Raksha Policy?

The Chola MS Bharat Griha Raksha Policy is a standard home insurance policy designed for all residential homeowners and tenants.

However, if you live in a rented place, it is suggested to purchase content cover, as it will keep your belongings protected from several emergencies.

Claim Procedure for Chola MS Bharat Griha Raksha Policy

If you suffer any loss due to any of the above-mentioned events, you must inform your insurer as early as possible. With the help of the below steps, you can raise claims under your Chola MS Bharat Girah Raksha policy-

  • Right after the emergency strikes you, give immediate notice to the legal authorities so that they can take action to stop further losses.
  • In case of malicious activities such as riots, strikes, or acts of terrorism, inform the police. Moreover, inform the police authorities, in case of theft within seven days following insured perils.
  • For any physical loss or damage caused to your insured property or its content due to any insured perils, intimate the insurer.
  • Take all the measures in order to prevent further loss. Also, it is advised not to sell or dispose of any damaged items until the insurer gives the orders.
  • Download, fill, and submit the signed claim form at the earliest but within 30 days from the date of the incident.
  • Depending upon the surveyor's report designed by the insurance company, you will be compensated for the losses.

FAQs about Chola MS Bharat Griha Raksha Policy

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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