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

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


IFFCO Tokio 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 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: 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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