Chola MS Bharat Griha Raksha Policy
Cholamandalam MS Bharat Griha Raksha is a standard home insurance policy that covers your residential building, household contents, additional structures, and optional valuable items under a single plan. The policy also offers protection against 14 insured events, automatic escalation of building sum insured, loss of rent cover, and alternative accommodation support. Therefore, this BGR policy from Chola MS helps you deal with unexpected situations such as fire, floods, earthquakes, storms, theft, or other disasters that can lead to major financial losses.
Key Highlights of Chola MS Bharat Griha Raksha Policy
- Provides financial protection for both your home structure and household belongings
- Covers losses caused by fire, lightning, earthquake, flood, cyclone, storm, and similar risks
- In-built contents protection when both building and contents cover are selected
- Offers optional coverage for valuables like jewellery, paintings, silverware, and artworks
- Personal Accident (PA) cover is available for the policyholder and spouse against several insured events
- Terrorism-related damages are covered as per policy conditions
- Provides temporary accommodation expenses and loss of rental income after insured damage
- Available with both annual and long-term tenure
- Get a waiver of the underinsurance benefit under the policy
- Suitable for homeowners, tenants, licensees, and occupants residing in the insured property
Quick Overview of Chola MS Bharat Griha Raksha Policy
| Feature |
Information |
| Insurance Category |
Bharat Griha Raksha Home Insurance |
| Eligible Individuals |
Homeowners, tenants, licensees, and authorised residents |
| Coverage Offered |
Home building and household contents |
| Coverage Against Natural Calamities |
Available |
| Fire & Allied Perils Protection |
Covered |
| Jewellery & Valuable Items Cover |
Available as optional cover |
| Personal Accident Benefit |
Offered under optional cover |
| Rent for Alternate Stay |
Covered |
| Loss of Rent Compensation |
Available |
| Terrorism Damage Cover |
Included |
| Long-Term Coverage Option |
Yes |
| Maximum Available Tenure |
Up to 10 years |
| Underinsurance Waiver Benefit |
Available |
What Does Chola MS Bharat Griha Raksha Policy Cover?
The policy provides coverage against physical loss, damage, or destruction caused by insured events listed under the policy wording.
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Home Building Cover
What is Covered?
The policy covers loss or damage caused by the following instances:
- Fire
- Explosion or implosion
- Lightning
- Earthquake
- Flood and inundation
- Storm, cyclone, tsunami, hurricane
- Landslide and rockslide
- Bush and forest fire
- Riot and strikes
- Terrorism
- Leakage from water tanks and pipes
- Sprinkler leakage
- Impact damage
- Theft within 7 days after an insured event
What Parts of the Building are Covered?
The policy covers the residential structure of your home, including the following structures:
- Main residential building
- Permanent fixtures and fittings
- Garage and domestic outhouses
- Compound walls and gates
- Retaining walls
- Parking areas
- Solar panels
- Water storage tanks
- Verandah and porch areas
Additional Benefits Under Building Cover
The policy also provides additional benefits under this building cover:
- Architect and surveyor fees up to 5% of the claim amount
- Debris removal expenses up to 2% of the claim amount
- Loss of rent cover
- Rent for alternative accommodation
- Automatic restoration of sum insured
- Automatic annual escalation of the building sum insured by 10%
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Home Contents Cover
The policy covers household contents and offers protection to all the household belongings kept in the house against various risks.
What is Covered Under Home Contents Insurance?
The policy offers protection against the following household items under the home content cover:
- Furniture
- Electronic appliances
- Kitchen equipment
- Clothing and apparel
- Electrical items
- Home utility equipment
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Optional Covers
Valuable Contents Cover
You can insure jewellery, silverware, paintings, artworks, and similar valuable items on an agreed value basis.
Personal Accident Cover
The policy offers ₹5 lakh compensation for accidental death of the insured or spouse caused by an insured event affecting the home.
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Loss of Rent & Alternative Accommodation Cover
If your home becomes unfit for living due to damage from an insured event, such as fire, flood, earthquake, cyclone, or similar covered risks, the insurer provides financial support for temporary living arrangements and rental losses. This benefit helps reduce the financial burden during the repair or reconstruction period.
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Other Benefits
No Underinsurance Benefits
One of the additional benefits you get under the Chola MS Bharat Griha Raksha Policy is the waiver of the underinsurance condition. Under basic insurance policies, claim amounts may be reduced if the insured value declared is lower than the actual property value. However, this policy offers protection against such reductions under specified terms. Hence. if the sum insured declared by the policyholder is lower than the actual value at risk, the insurer will not reduce the claim amount solely because of underinsurance.
Long-Term Policy Benefits
The Chola MS Bharat Griha Raksha Policy is available with both annual and long-term tenure options. Customers can choose policy durations extending up to 10 years, depending on their protection needs.
Restoration of Sum Insured Benefits
The policy includes a restoration of the sum insured feature that helps maintain continuous coverage even after a claim is settled during the policy period.
What is Covered Vs What is Not Covered?
| Covered |
Not Covered |
| Fire and explosion |
Deliberate or intentional damage |
| Earthquake and flood |
War and war-like situations |
| Riot and terrorism |
Nuclear risks |
| Storm and cyclone |
Pollution or contamination |
| Theft after insured event |
Electrical breakdown of items |
| Impact damage |
Missing or misplaced property |
| Water tank overflow |
Consequential financial losses |
| Landslide and rockslide |
Normal wear and tear |
| Alternative accommodation |
Unauthorized structural extensions |
How to Buy Chola MS Bharat Griha Raksha Plan Online?
You can buy the Chola MS Bharat Griha Raksha Policy online through Policybazaar in a few simple steps, as explained below:
- Step 1: Visit the Home Insurance Page Go to the official website of Policybazaar Insurance Brokers Private Limited and choose 'Home Insurance'.
- Step 2: Enter Basic Details Fill in details such as: Name, Mobile number, Property location, Property type.
- Step 3: Share Property Information Provide details about your property, including: Carpet area, Construction type, Type of property, Estimated construction cost, Value of household contents.
- Step 4: Select Coverage Choose coverage as per your needs, and you may add additional protection as per your needs.
- Step 5: Review Premium & Make Payment Review the premium amount and complete the payment online.
- Step 6: Receive Policy Instantly Once payment is successful, the policy document is issued instantly to your registered email ID.
How to File Chola MS Bharat Griha Raksha Policy Claim Online?
You can file a claim online by following these steps if your home or its contents are damaged due to various unforeseen circumstances:
- Step 1: Inform the Insurer Immediately Notify the insurer provider as soon as the loss or damage occurs. This will help initiate the inspection process and claim assessment quickly.
- Step 2: Register the Claim & Submit Documents Share details such as policy number, incident details, and the date and cause of loss. Additionally, you are required to submit the following documents to your insurer: Claim form, Photographs or videos of damage, Repair estimates, Bills and invoices, Property ownership proof, FIR copy (for theft or malicious damage cases), Reports from local authorities, where applicable.
- Step 3: Surveyor Inspection The insurer may appoint a surveyor to assess the damage to the property & its contents. Also, the surveyor evaluates the extent of loss.
- Step 4: Claim Evaluation Based on the submitted documents and survey reports, the insurer carefully assesses the claim details. The evaluation process includes reviewing the policy coverage, the nature and cause of the loss, supporting documents, and the surveyor's findings. Based on this assessment, the final payable claim amount is determined in accordance with the terms, conditions, and coverage limits mentioned in the policy.
- Step 5: Claim Assessment & Settlement After verification and approval, the claim amount is settled in accordance with the sum insured limits and policy conditions.
Documents Required for Chola MS Bharat Griha Raksha Policy Claims
The insurer may ask for the following documents during claim settlement. However, the exact documents vary depending on the nature of the claim.
- Duly filled claim form
- FIR or Fire Brigade Report
- Meteorological report (for natural calamities)
- Repair or replacement estimates
- Repair bills and invoices
- Asset register
- Proof of reinstatement
- KYC documents
- Photographs of damages
- Any additional supporting documents
Note: Additional documents may be required to process the claims.
Why Choose Chola MS Bharat Griha Raksha Policy?
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Comprehensive Protection
The policy protects both your home structure and household contents under a single plan.
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Covers 14 Major Risks
It provides financial protection against common natural and man-made disasters.
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Automatic Sum Insured Increase
Your building sum insured automatically increases by 10% each year, without an additional premium.
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Alternative Accommodation Support
The policy helps manage temporary accommodation expenses if your home becomes unfit to live in.
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Valuable Contents Protection
You can also insure jewellery, artworks, and other valuable items with a valuable contents add-on cover.
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Underinsurance Waiver
The policy includes an underinsurance waiver, reducing the risk of claim deductions.
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Long-Term Policy Availability
Customers can opt for long-term protection of up to 10 years and avoid the hassle of renewing the policy every year.
Conclusion
The Chola MS Bharat Griha Raksha Policy is a comprehensive home insurance solution designed to financially protect your home building and household contents against multiple unforeseen risks. With coverage against 14 insured events, optional valuable contents protection, automatic sum insured escalation, and alternative accommodation support, the policy offers reliable financial security for homeowners and tenants alike. It is a suitable choice for individuals seeking long-term, comprehensive protection for their residential property.
FAQs – Chola MS Bharat Griha Raksha Policy
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Ans: Yes, it is a standard home insurance product designed in accordance with IRDAI guidelines.
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Ans: Yes, the policy covers general household contents. Valuable content can also be covered through an optional add-on.
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Ans: Yes, theft is covered if it occurs within 7 days following an insured event.
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Ans: Yes, tenants, homeowners, licensees, and authorised occupants can purchase this policy.
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Ans: Yes, the policy covers temporary accommodation expenses if the insured home becomes unfit for living after an insured event.
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Ans: Yes, the policy provides coverage for earthquakes and other natural disasters.
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Ans: Yes, the policy offers in-built contents cover when both home building and contents coverage are selected, as per the policyholder's choice.
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Ans: Yes, jewellery, paintings, silverware, artworks, and other valuables can be covered under the optional valuable contents cover.
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Ans: Yes, the policy covers losses caused by floods, storms, cyclones, inundation, and similar natural disasters.
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Ans: Yes, terrorism-related losses are covered under the policy terms and conditions.
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Ans: The policy offers long-term coverage options for up to 10 years.
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Ans: Yes, household electrical appliances are covered under the home contents section, subject to policy conditions and exclusions.
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Ans: Yes, the policy includes waiver of the underinsurance benefit under specified policy terms.
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Ans: Yes, the policy compensates for loss of rent if the insured property becomes uninhabitable due to an insured event.
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Ans: Yes, damages caused by fire, explosion, and lightning are covered under the policy.
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Ans: Yes, the policy can be purchased online through Policybazaar.
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Ans: Yes, landslide and rockslide damages are covered if caused by insured events mentioned in the policy wording.
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Ans: Yes, personal accident cover is available as an optional benefit for the insured and spouse.
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Ans: Yes, the policy can be renewed online before the policy expiry date.
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Ans: Inspection requirements may vary depending on the property details, age, and sum insured selected.
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Ans: Commonly required documents include a claim form, FIR or fire brigade report, repair estimates, photographs, invoices, and KYC documents.
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Ans: The sum insured is generally calculated based on the property's carpet area and construction cost.
*Disclaimer: The information mentioned above is intended for general informational and educational purposes only. The coverage offered under the Chola MS Bharat Griha Raksha Policy, including benefits, exclusions, add-on covers, claim settlement conditions, and eligibility criteria, may vary depending on the insurer's underwriting guidelines and policy terms. Customers are advised to carefully read the official policy wording, brochure, and related documents to understand the complete scope of coverage, exclusions, limitations, and conditions before purchasing the policy.
