L&T Home Insurance

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L&T Home Insurance Overview

L&T General Insurance Company Limited is a fully owned subsidiary of Larsen & Toubro Limited, and is a company which is a common household name in India. L&T General Insurance is a world class company with the best technological and human resource to drive the real value to the customers. The company’s vision is to create an experience to their customers in terms of character, capability and caliber. We will now have an overview of Home Insurance Plans for this company.

 Every step with regards to house from buying , furnishing, decorating etc are very important events in any individual’s life and yet  a lovely and a memorable experience to cherish for lifetime. House, the most important asset therefore deserves a full security or safeguard from all the danger or hazards and uncertainties which might arise. Home insurance plans from L & T is the ideal which offers a widespread coverage.

Under Home Insurance Plans of L&T, there are various plans which are as follows:

  • Primary Home Insurance Plan
  • Insta Home Insurance Plan.
  • Premium Home Insurance Plan.
  • Super Home Insurance Plan.

PRIMARY HOME INSURANCE PLAN

The Primary Home Insurance plan covers the followings:

Section I – Fire by means of Allied Peril :

The plan covers the loss or damage arising out of Fire and allied perils. The coverage of this plan is as below:

  • Fire and Lightening : Fire is the most common peril or threat which can happen at any point and hence such loss against fire is very much covered  under this plan, however there are certain areas and conditions where the same is not covered which are  destruction or damage which are caused to the property by
    • Own fermentation, impulsive fire or ordinary heat.
    • The plan also includes undergoing any heating or drying procedure .Also burning of the insured property by notice.

Lightening: This plan also covers the natural calamity of lightening.

  • Implosion and Explosion: The plan covers both explosion and implosion except for destruction or damage caused to the property to boilers and by the centrifugal energy.
  •  Damage by Aircraft:  The fire and allied peril plans also includes destruction, loss or damage caused by aircraft or  items that are dropped from other than those which are caused by force due to air.
  • Rebellion, strikes and malevolent Damage: Loss , destruction, physical damage caused by exterior and vicious way which are caused directly to the property other than:
    • Entire or incomplete termination of work or retardation or disruption of any process or omissions.
    • Burglary, theft, housebreaking, larceny or any such act by any person.
    • Everlasting or momentary removal.
    • Everlasting or momentary removal of any house from illegitimate work of any individual.
  • Natural calamities are the biggest threats of life and hence one needs protection against these mandatorily. Destruction or losses or damage caused by natural calamities are covered under this plan. Cyclone, typhoon, storm, tempest, hurricane, flood, tornado and inundation, exclusive of those resulting from earthquake, volcanic upsurge are covered .
  • Impact Damage: The plan cover the loss / destruction / Physical damage caused to the insured property due to direct  impact by any rail, road, vehicle or animal by direct contact which do not belong or owned by
    • Insured’s employees while working  OR
    • Insured or the tenant of the property
  • Subsidence / Landslide includes Rockslide : The plan does cover the damage, destruction or loss caused by Subsidence of part of the position on which the property is situated  except:
    • Some designs which are being faulty.
    • Coastal or river wearing away.
    • Natural crack.
    • Pulling down, assembly, upkeep or building modification or amendment.
    • Slow movement of ground.
  • Bush Fire excluding loss, damage or destruction caused by forest Fire.
  • Projectile Test Procedures are excluded.
  • The bursting and or Overflowing of water boiler, equipments and Pipes.
  • Exclusion of seepage from Automatic Sprinkler Installations.
  • Earthquake.
  • The plan also covers loss or destruction to bullion or unset precious stones , any curious or works of art or as things mentioned in the plan upto an amount of Rs 10000/-.
  • Upto 3% and 1% of the admissible claim amount will be paid for expenses towards debris removal and architecture fees.

Section II –Burglary and /or Housebreaking Contents

This plan provides the coverage for  the loss and damage due to burglary and /or housebreaking  . Furthermore, loss or damaged which is caused due to attempted burglary and/or housebreaking is also paid for Rs 10000.1% of each claim amount with a minimum of Rs 2500/- is to be borned by the policyholder.

Optional Covers

Section III-: Electronic Equipments ( All Risk): Under this, all the damage or loss are covered for electronic equipments like, computers, laptops, tablets and audio visual equipments as well. The policyholder will have to bear 5% of each claim amount with a minimum of Rs 2500.

Section IV-: Protection to Domestic Appliances: The coverage is provided  for the domestic appliances for both the mechanical and electrical breakdown. In such cases, the policyholder will have to bear 1% of each claim amount with a minimum amount  of Rs 500.

Section V-: Plate lass Protection: Under this, the protection is provided for the plate glass which is fixed in nature  for any  accidental damage or loss which occur. The policyholder will have to bear a certain percentage which is  5% of each claim amount to the minimum amount of Rs 2500.

Section VI-: Jewellery and Valuables ( All Risk): The protection is for entire family’s Jewellery and  entire valuables from all kind losses or damages. The valuables includes  wrist watches, cameras and musical instruments. In such cases, the policyholder will have to bear 5% of each claim amount with a minimum of Rs 25000.

Section VII-: Baggage Protection: The protection is for the luggage with  personal belongings and  papers as accompanied luggage further than metropolitan restrictions against loss, theft or accidental damage. The policyholder will have to bear Rs 1000 of each and every claim.

Section VIII-: Public Liability: It covers the protection against legal liability arising out of death or bodily injury or property damage to third party caused due to any accident at home. The policyholder will have to bear Rs 10000 for each and every third party damage claim.

Section IX-: Liability to Domestic Staff: It covers the protection against legal liability arising out of death or bodily injury or property damage to domestic staff while on duty at home.

Section X-: Purchase Protection: This provides protection to new content which are acquired during the plan tenure against the insured peril/event as covered under the compulsory sections irrespective of being declared or not. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 1000.

Section XI-: Wallet Protection: This provides protection to the wallet/ ladies handbag and its contents against physical accidental loss. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 500. The reimbursement will be limited to the following:

  • Replacement costs for wallet and important papers like driving license, pan card, UIN, passport and other documents defined under the policy.
  • Chares for lost or stolen credit cards in the wallet.
  • Actual loss of money in INR kept in the wallet.
  • Emergency first aid charges for any bodily injury occurring during robbery and holdup while withdrawing cash from ATM.
  • Cost of travelling back to residence.

Exclusions of the plan:

No indemnity is allowed in the following situations:

  • Exclusion of loss and /or damage which arises due to war whether declared or not,  act of foreign enemy , civil war, mutiny or civil commotion.
  •  Exclusion of loss, damage and  destruction caused directly or indirectly to the property insured by Ionizing, radiation or infectivity from any nuclear fuel or from any nuclear waste. Or radioactive poisonous explosives.
    • The plan also does not cover the  damage/loss or  destruction caused to the property of the insured due to effluence or by infectivity.
    • The plan does not cover the loss of income or any other major or indirect loss and damage of any kind.
    • The plan does not cover the loss or damage caused by willful act of the insured, his/her family members, domestic staff.
    •  Loss and /or damage which arises due to depreciation or wear and tear.

Claims

  • Clams are to be intimated toll free number of the company.
  • Surveyors are deputed usually within 24 hours for the investigation and assessment of the loss.
  • In case of Burglary, police authorities’ needs to be informed immediately after the incident.
  • On receipt of the documents and investigation reports, the company will inform the policy holder on the claim status within 30 days.

INSTA  HOME INSURANCE  PLAN

This plan offers an absolute and complete protection to the home and its contents. One can choose from 4 sub-plan options which have a fixed price and have fixed sum insured. These are standard pre underwritten plans. This plan offers a spot cover, for faster and hassle free transactions.

The rates of premium are as follows:

Section

Cover

Plan A

Plan B

Plan C

Plan D

Section IB

Fire and Allied Perils for Contents

100000

200000

300000

500000

Section II

Burglary and Housebreaking for contents

100000

200000

300000

500000

Section III

Electronic Equipments ( All Risk)

15000

30000

45000

90000

Section IV

Protection to Domestic Appliances

15000

30000

45000

90000

 

Total Premium Without Service Tax

399

799

1199

2099

 

The 4 coverages under this plan are as under:

Section IB – Fire and Allied Peril:

This plan provides protection against the loss or damage due to the following reasons:

  • Fire
  • Lightening
  • Implosion/Explosion
  • Aircraft Damage
  • Riot, strikes and Malacious Damage.
  • Storm, Cyclone.
  • Impact Damage.
  • Typhoon, Tempest, Tornado, Hurricane, Flood and Inundation.
  • Subsidence and Landslide which includes Rockslide as well.
  • Bursting and or Overflowing of Water Tanks, Apparatus and Pipes.
  • Bush Fire.
  • Missile Testing Operations.
  • Leakage from Automatic Sprinkler Installations.
  • Earthquake.

Section II –Burglary and /or Housebreaking Contents

This plan provides the coverage for  the loss and damage due to burglary and /or housebreaking  . Furthermore, loss or damaged which is caused due to attempted burglary and/or housebreaking is also paid for Rs 10000.1% of each claim amount with a minimum of Rs 2500/- is to be borned by the policyholder.

Section III-: Electronic Equipments (All Risk): Under this, all the loss/ damage/ destruction are covered for electronic equipments like, computers, laptops, tablets and audio visual equipments as well. The policyholder will have to bear 5% of each claim amount with a minimum of Rs 2500.

Section IV-: Protection to Domestic Appliances: The coverage is provided  for the domestic appliances for both the mechanical and electrical breakdown. In such cases, the policyholder will have to bear 1% of each claim amount with a minimum amount  of Rs 500.

Exclusions and Claims re the same as under Primary Home Insurance Plans.

PREMIUM HOME INSURANCE PLAN

Premium Home Insurance Plan covers absolute and complete protection of 28 covers to home and its belongings.  Compulsory covers are:

Section IB – Fire and Allied Peril: This plan provides protection against the loss or damage due to the same reasons as mentioned under Insta Home Insurance Plans.

Section II –Burglary and /or Housebreaking Contents  :

 This plan provides the coverage for  the loss and damage due to burglary and /or housebreaking  . Furthermore, loss or damaged which is caused due to attempted burglary and/or housebreaking is also paid for Rs 10000.1% of each claim amount with a minimum of Rs 2500/- is to be borned by the policyholder.

Optional covers under the plan are as follows:

Section III to Section  XI : Same as above. Additionally following covers can also be opted under the plan.

Section XII-: Wedding and Other Ceremonial Benefit:  This provides protection to the assets and financial loss against accidental damage/postponement of event/ legal liability. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 2500.

Section XIII-:Golf Plan:  The plan provides protection to golfing activities starting from items stolen , lost or damaged, legal liabilities to third party, amount involved to achieved Hole In One  etc. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 2500.

Section XIV-:Marine Transit:  Liability to Domestic Staff: It covers the protection to household goods while shifting within the same city. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 1000.

Section IX-:Liability to Domestic Staff:  It covers the protection against legal liability arising out of death or bodily injury or property damage to domestic staff while on duty at home.

Section XV-:Temporary Re settlement Expense:  Liability to Domestic Staff: It covers the costs of packing, unpacking, loading, unloading or handling charges.

Section XVI-:Contents Temporarily Removed:  The cover provides protection to contents against perils covered under Section I and Section II.

Section XVII-Liability of Tenants to Landlord:  The cover provides protection against legal liability arising from the damage caused to the landlord.

Section XVIII-Rent for Alternative Accommodation:  The cover provides reimbursement for an alternative accommodation. Additionally following are the optional plans which one can opt for :

Section XIX-Pet Dog:  The cover provides protection against the financial loss arising out of dog bite.

Section XX-Pedal Cycle and Tricycle:  The cover provides protection against legal liability arising from the damage caused to the third party.

Section XXI-Lock and Key Replacement : The cover provides protection against the expenses incurred for lock and key replacement.

Section XXII-Property of Self employed:  The cover provides protection against the loss caused to the contents which are for professional or business use.

Section XXIII-Holiday and Second Home :  The cover provides protection to house and its contents caused due to perils under Section I and Section II.

Section XXIV-Search and Found:  The cover provides protection against loss of repairing and locating water damage.

Section XXV-Accidental Damage to underground pipes, cable or services:  of Tenants to Landlord:  The cover provides protection against accidental Damage to underground pipes, cable or services in the premises.

Section XXVI-Safety for documents:  The cover provides protection against loss or damae of important documents as mentioned above.

Section XXVII-Trees and Plants:  The cover provides protection to trees and plants caused due to perils under Section I and Section II.

Exclusions and Claims re the same as under Primary Home Insurance Plans.

SUPER HOME INSURANCE PLAN

Super Home Insurance Plan offers a coverage of 20 different covers which protects the house and its contents. The plan can be purchased online and over phone as well. Compulsory covers are same as Premium Home Insurance Plans.

Optional covers under the plan are as follows:

Section III to Section  XI : Same as  under Primary Home Insurance Plans . Additionally following covers can also be opted under the plan.

Section XII-: Wedding and Other Ceremonial Benefit:  This provides protection to the assets and financial loss against accidental damage/postponement of event/ legal liability. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 2500.

Section XIII-:Golf Plan:  The plan provides protection to golfing activities starting from items stolen , lost or damaged, legal liabilities to third party, amount involved to achieved Hole In One  etc. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 2500.

Section XIV-: Marine Transit:  Liability to Domestic Staff: It covers the protection to household goods while shifting within the same city. The policyholder will have to bear 1% of each claim amount with a minimum of Rs 1000.

Section XV-: Temporary Re settlement Expense:  Liability to Domestic Staff: It covers the costs of packing, unpacking, loading, unloading or handling charges.

Section XVI-: Contents Temporarily Removed:  The cover provides protection to contents against perils covered under Section I and Section II.

Section XVII-Liability of Tenants to Landlord:  The cover provides protection against legal liability arising from the damage caused to the landlord.

Section XVIII-Rent for Alternative Accommodation:  The cover provides reimbursement for an alternative accommodation. Additionally following are the optional plans which one can opt for.

Section XIX-Pet Dog:  The cover provides protection against the financial loss arising out of dog bite.

Section XX-Pedal Cycle and Tricycle:  The cover provides protection against legal liability arising from the damage caused to the third party.

Exclusions and Claims re the same as under Primary Home Insurance Plans.

Contact L&T Insurance

  • Customers have an option to call at company's toll free number for any query, comments or purchasing a new plan.
  • SMS “LTI” to 56070 58( 56070 –LT)
  • Email at help[at]ltinsurance[dot]com
  • Write to L&T Mumbai office.

L&T Home Insurance - FAQs

1. How to pay a premium? What are the modes of payment available?

The L&T General insurance company Ltd. offers different modes of premium payment namely:
Cash payment at the branch
Cheque payment at the branch

2. How can I check policy status for L&T home insurance?

Registred users can check their policy status online. Simply enter your policy details on the e-portal.

3. What is the policy renewal process for L&T home insurance?

Renew your policy online in the following way;
Step1: Enter your client ID and Date of Birth to login into e-portal
Step2: Choose the policy and the payment mode (Debit/Credit Card or Net Banking)
Step3: Print/save the premium deposit receipt once the payment is successful
Alterantively, you can pay via cash/cheque at any of the nearest at collection center.

4. What is the company’s process to settle claim for L&T home insurance?

Download the suitable claims form from e-portal. Fill it and attach with relevant documents. Submit it at the nearest branch. Upon successful completion of the process, the claims will be settled within 30 days.

5. What is the policy cancellation process for L&T home insurance?

You can cancel the policy with necessary documents before the expiry date. Just visit the nearest branch with your policy documents.

L&T Home Insurance Reviews

TOTAL REVIEWS (1)
Uttam
Ahmednagar
May 13, 2016

Good Service

I buy L&T home insurance plan. The policy coverage is high and the claims are even better. Good service facilitate by the executives and the staff members. The natural damage like fire, That all cover in the policy. Many items and belongings are also insured in the plan. Nice investment which makes me tension free.