Overview of IFFCO Tokio Bharat Griha Raksha Policy

IFFCO Tokio Bharat Griha Raksha Policy is a standard home insurance policy that covers residential properties in India at the most affordable rates. The policy ensures that the homeowner is covered for any damage or loss caused to their insured house structure and belongings.

IFFCO Tokio Bharat Griha Raksha Policy

4.7 (99 reviews)
Get insurance for Home loan or Personal security in just 5 minutes.


IFFCO Tokio Bharat Griha Raksha Policy

4.7 (99 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 ₹ 18/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 ₹18/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 IFFCO Tokio Bharat Griha Raksha Policy

IFFCO Tokio Bharat Griha Raksha Policy is a standard home insurance policy that covers residential properties in India at the most affordable rates. The policy ensures that the homeowner is covered for any damage or loss caused to their insured house structure and belongings.

IFFCO Tokio Bharat Griha Raksha Policy: Key Features

Categories Key Benefits
Policy Tenure Minimum – 1 year and Maximum – 10 years
Buildings Covered Residential Properties
Key Specifications* The policy will be issued on the reinstatement value basis
Affordable premiums
Coverage* Auto escalation of 10% based on SI
No underinsure is applicable
There is NIL excess in this BGR policy
Policy Cancellation Available

*Disclaimer- The above table is for illustration purposes only. Kindly review the policy wording on the insurer's official website to understand the policy coverage and its benefits.

Inclusions of IFFCO Tokio Bharat Griha Raksha Policy

The IFFCO Tokio Bharat Griha Raksha Policy offers financial protection to your insured property and its belongings against several unforeseen circumstances. Here are the common inclusions-

  • Loss due to fire, implosion, or explosion
  • Loss or damage due to landslide, rockslide, and subsidence
  • Loss due to several types of fire, including forest fire, bush fire, and jungle fire
  • Loss or damage due to overflowing or leakage of water pipes, tanks, automatic sprinkler installations, and apparatus
  • Damage or destruction caused due to missile testing operations, riots, malicious damage, strikes, and vandalism
  • Loss or damage caused due to nature's fury, such as earthquakes, storms, tempests, cyclones, hurricanes, tornadoes, tsunamis, inundation, and floods
  • Loss or destruction caused due to acts of terrorism
  • Impact damage due to collision, external physical objects such as falling trees, vehicles, aircraft, walls, etc.
  • Coverage if the insured site suffers a loss due to theft within 7 days from the occurrence caused by any of the above-insured events.

Exclusions of IFFCO Tokio Bharat Griha Raksha Policy

IFFCO Tokio Bharat Griha Raksha Policy does not cover damages or loss caused by the below-mentioned reasons-

  • A deliberate or willful act that causes damage to the insured property and its belongings
  • Loss caused due to war, warlike operations, nuclear radiation, or similar operations
  • Damage caused to pollution or contamination
  • Damage or loss to the missing content of the house whose disappearance cannot be connected to any identifiable event
  • Loss of income, consequential losses, etc.
  • Loss due to a reduction in the market value of the insured property after the reinstatement or repair is initiated
  • The cost or fees incurred for preparing the claims
  • Loss to the unset precious stones, manuscripts, bullion, drawings, securities, bullion, cheques, coins, cash, and vehicle
  • Any addition, alteration, and extensions to the insured home structure that increases its carpet area by more than 10%

*Disclaimer- Kindly refer to the policy wordings of the insurer to understand the exact policy coverage.

You may also read- Go Digit Bharat Griha Raksha Policy

Add-on Covers in IFFCO Tokio Bharat Griha Raksha Policy

Besides the basic coverage, there are some essential add-on covers that you can purchase while buying your IFFCO Tokio Bharat Griha Raksha Policy. The below-mentioned optional covers will help in extending the protection to your insured house-

  1. Valuable Content Cover on Agreed Value Basis

    This add-on cover under the BGR policy helps you to insure the valuables up to the agreed value by you and the insurer. You must submit a valuation certificate if the agreed value is more than ₹ 5 Lakh (Rupees Five Lakh). However, if the SI is up to ₹ 5 Lakh and the cost of an individual item is not more than ₹ 1 Lakh, there is no need for the valuation certificate.

  2. Personal Accident Cover

    A Personal Accident (PA) cover in IFFCO Tokio Bharat Griha Raksha Policy offers coverage to the policyholder in case of their death or of their spouse due to any insured event. The policy provides compensation of ₹ 5 Lakh/person.

Cancellation and Termination of IFFCO Tokio Bharat Griha Raksha Policy

If you have purchased a BGR policy and are unsatisfied with the coverage or the insurer's services, you can cancel it anytime.

  1. Cancellation by the policyholder at any time

    • You can cancel the BGR home insurance policy anytime by writing a notice to your insurer.
    • You if choose to cancel your policy any time after the purchase, you will receive the premium refund in the following manner-
    Policy Period Refund of Premium (in %)
    15 days 90%
    1 month 85%
    2 months 70%
    3 months 60%
    4 months 50%
    5 months 40%
    6 months 30%
    7 months 25%
    8 months 20%
    9 months 15%
    More than 9 months Nil
  2. Cancellation by the insurer

    • The insurer only cancels the policy during the policy period for misrepresentation, non-disclosure of material facts, non-cooperation from the policyholder, or fraud.
    • Suppose there is a Total Loss (TL) of your insured building structure in a long-term policy where you have decided not to reinstate your home structure in favor of a cash settlement of your claim. In that case, the insurer will cancel the policy for the remaining policy tenure. In addition, the insurer will refund the proportionate premium for the remaining policy years after grossing up the premium paid by you towards a long-term discount, if any.
  3. Automatic termination of the policy

    Your IFFCO Tokio Bharat Griha Raksha Policy will automatically end in the following cases-

    • Your policy will automatically end up in 7 days after your home structure is destroyed or damaged by reasons other than the insured perils.
    • Your policy will terminate automatically if the insured home structure, additional structure, or building contents are lost, stolen, or is a Total Loss.
    • Your BGR policy will be terminated in case if you change the use of your insured home content from personal residence to any other purpose.
    • Your BGR policy will be terminated in case if you change the use of your insured home content from personal residence to any other purpose.
    • Your policy will end when you surrender or sell your home building and/or home contents.

    *Disclaimer- Please refer to the policy wordings of the insurer to understand the terms & conditions of the policy cancellation

Who Should Buy IFFCO Tokio Bharat Griha Raksha Policy?

All residential property owners and tenants can buy the IFFCO Tokio Bharat Griha Raksha Policy. For tenants, it is recommended to purchase a content cover, as it will financially protect their belongings or home contents from several unforeseen risks.

Claim Procedure for IFFCO Tokio Bharat Griha Raksha Policy

As soon as you suffer any loss or damage due to insured perils, it would help if you inform the insurer on early notice. By following the below steps, you can raise a claim under an IFFCO Tokio Bharat Griha Raksha Policy-

  • As the emergency hits your insured structure, immediately inform the legal authorities. They will take all the necessary actions to prevent further losses.
  • In case of riots, malicious activities, strikes, or acts of terrorism, it is your responsibility to inform the police. In addition, you must inform the police authorities if there is a theft within 7 days following insured perils.
  • Intimate your insurer for all the physical damage or loss caused due to the insured events.
  • Take all the preventive measures so that you can stop further loss. Do not dispose of or sell any damaged items without informing the insurer.
  • Download the claim form from the insurer's official website, fill it out, and submit the signed form at the earliest to your insurer but at least within 30 days from the event date.
  • The insurer will assign a surveyor to evaluate the damages and create an assessment report. According to that report, you will be compensated for the losses.

FAQs about IFFCO Tokio Bharat Griha Raksha Policy

Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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4.7 / 5 (Based on 99 Reviews)
(Showing Newest 10 reviews)
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Good Price
I had purchased Bajaj Allianz home insurance, and when there was damage to home equipment due to an electric spark, these damages were covered by the insurance. Got insurance at a good price.
Naresh
Muzaffarnagar, February 02, 2025
Best Deal
I never thought home insurance could be affordable. With Policybazaar, I could compare multiple insurance plans on a single platform. I am glad I got the best insurance plan at a very good deal.
Nalin
Begusarai, January 30, 2025
Easy Renewal
I renewed my home insurance through Policybazaar. Initially, I was unsatisfied with my previous insurer, but my experience with Policybazaar has been good. Very satisfied with their services.
Abhimanyu
Gridi, January 29, 2025
Good Experience
PolicyBazaar has made comparing policies easy, and its agent explained the features clearly. Really happy with my experience of getting a home insurance policy.
Prateek
Patna, January 27, 2025
Expenses Covered
With HDFC ERGO home insurance, I could cover my expenses when our building caught fire. Luckily, no one was hurt.
Dhruv
Jamshedpu, January 24, 2025
Easy Process
Thank you, Policybazaar, for helping me to get the claim approved for my home insurance. Your process was very easy.
Vihan
Etawa, January 21, 2025
Big Help
I had purchased a new flat by taking a home loan. However, after paying the second EMI, there were some issues with the water pipeline, and it burst. The house's walls were damaged, and home insurance through Policybazaar helped me get a claim for my loss.
Ishaan
Lucknow, January 20, 2025
Stress-free process
Exploring different home insurance options felt overwhelming, but PolicyBazaar simplified everything. Their platform helped me compare plans quickly. The team answered all my queries, making the process stress-free.
Kshitiz
Lucknow, January 18, 2025
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Thank you, Policybazaar, for helping me to get the claim approved for my home insurance. Your process was very easy.
Rahul
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  • 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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