Overview of New India Assurance Griha Suvidha Policy

The New India Assurance Griha Suvidha Policy offers home content coverage for several assets and belongings of the home against various natural perils, such as fire, riots, strikes, floods, earthquakes, terrorism, burglary, theft, and accidental damage to the contents, including jewellery & valuables. The policy does not require any documentation, such as proof of ownership and original bills of the assets, to settle your claims.

New India Assurance Griha Suvidha Policy

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


New India Assurance Griha Suvidha 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
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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 New India Assurance Griha Suvidha Policy

The New India Assurance Griha Suvidha Policy offers home content coverage for several assets and belongings of the home against various natural perils, such as fire, riots, strikes, floods, earthquakes, terrorism, burglary, theft, and accidental damage to the contents, including jewellery & valuables. The policy does not require any documentation, such as proof of ownership and original bills of the assets, to settle your claims.

New India Assurance Griha Suvidha Policy: Key Features

Categories Key Features
Coverage House Contents on ‘First Loss Basis’
Availability Indian citizens and foreign nationals (provided that the contents proposed for insurance should be within the Indian territory)
Claim Settlement Indian currency only

Coverage under the New Assurance Griha Suvidha Policy

This New India household policy covers four main sections, each with five built-in sections. However, the sixth section is optional, where the residential properties can cover the entire residential premise on the full Sum Insured (SI).

Section I –Content Coverage (Excluding Jewellery) Against Fire & Allied Perils

It covers household contents such as furniture & fixtures, fittings, clothing & apparel, upholstery, and domestic appliances that are on the premises against fire, lightning, implosion, explosion, riots, strikes, terrorism, damage, earthquakes, storms, cyclones, typhoons, tempests, hurricanes, tornados, floods, inundation, subsidence, and landslides. The insured household is not required to provide a detailed list of the items covered under this policy.

Exclusion under Section – I

  • Loss or damage caused to consumables articles.
  • Loss or damage caused to securities, stamps, money, bullion, livestock, motor vehicles, and pedal cycles.
  • Loss or damage caused to bonds, bills of exchange, deeds, promissory note shares, stock certificates, deeds, business books, manuscripts, documents, precious stones, jewellery & valuables.

Excess under Section – I

1% of the Sum Insured (SI) and items/articles less than INR 1,000/- are not covered

Section II –Content Coverage (Excluding Jewellery) Against Burglary & Housebreaking, Theft Including Larceny

It covers household contents such as furniture and fixtures, fittings, clothing and apparel, upholstery, and domestic appliances that are on the premises against burglary, housebreaking, and theft, including robbery.

Exclusion under Section – II

  • Loss or damage caused to the insured items due to burglary, theft, or housebreaking where any insured family member is involved as principal or accessory.
  • Loss or damage caused to the livestock, vehicles, and pedal cycles.
  • Loss or damage caused to bonds, bills of exchange, deeds, promissory note shares, stock certificates, deeds, business books, manuscripts, documents, precious stones, jewellery & valuables.

Excess under Section – II

  • 1% of the Sum Insured (SI) and items/articles less than INR 1,000/- are not covered

Section III –Coverage for Jewellery & Valuables

It covers jewellery and valuable items worn or kept on the insured premises against fire, earthquakes, burglary, theft, housebreaking, accident, or misfortune. The insured household must describe the items only if their value exceeds 10% of the Sum Insured in this section. Further, they can only insure up to 5 such types of items.

Exclusions under Section III

  • Loss or damage caused due to cracking, breaking, or scratching of lens/glass or any equipment/china marble, gramophone records, and other articles of fragile nature
  • Loss or damage caused if there is mysterious disappearance, misplacement, or unexplainable loss of the insured items.
  • Loss or damage caused to the insured articles due to moth, vermin, or mildew. Additionally, loss caused during the process of cleaning, dyeing, restoring, or repairing the insured property.
  • Loss or damage caused by mechanical derangement or over-winding of watches and clocks.
  • Loss or damage caused during conveyed by any carrier under a freight contract.

Excess under Section III

  • 1% of the Sum Insured (SI) and items/articles less than INR 1,000/- are not covered

Section IV –Coverage for Breakdown of Domestic Appliances

It covers the physical damage caused by specific domestic appliances due to mechanical or electrical breakdowns. The insured must describe the appliance with details about its make and model.

Exclusions under Section IV

  • Loss or damage arising due to willful act or negligence
  • Loss or damage caused due to fraudulent activities at the time of commencement of the policy
  • Loss or damage sustained due to manufacturer or supplier's fault before the beginning of the policy.
  • Loss or damage to any insured property following any perils that are uninsurable under the policy
  • Loss or damage arising while transporting damaged appliances to the repair shop and back to the insured's premises.

Excess under Section IV

  • 1% of the Sum Insured (SI) and items/articles less than INR 1,000/- are not covered

Section V – TV/Desktop Insurance

It covers televisions or desktops on the premises against earthquakes, fires, burglary, housebreaking, and electrical & mechanical breakdown.

Exclusions under Section V

  • Loss or damage to an external antenna or fittings by theft unless the TV or desktop is stolen at the same time.
  • Loss or damage arising out by traceable to erection, repair, or dismantling of TV/desktop.
  • Loss or damage sustained in the insured TV/desktop due to the manufacturer or supplier's fault before the commencement of the policy.

Excess under Section V

1% of the Sum Insured (SI)

Section VI – Optional Cover

It is optional and covers the entire residential premises on a full Sum Insured basis. The premium for this section depends on the value of the property. It will be added to the premium payable for the other sections.

Excess under Section VI

5% of the claim amount subject to a minimum of INR 10,000 (Ten Thousand) for AOG perils only

*Disclaimer- To understand the exact policy coverage, kindly refer to the policy wordings provided by the insurer.

Sum Insured on First Loss Basis

Sections Cover Descriptions for Contents Option I - Sum Insured (SI) Option II - Sum Insured (SI) Option III - Sum Insured (SI) Option IV - Sum Insured (SI)
I Fire and Allied perils (contents) INR 1,00,000 INR 2,50,000 INR 5,00,000 INR 10,00,000
II Burglary, Housebreaking, and Theft INR 1,00,000 INR 2,50,000 INR 5,00,000 INR 10,00,000
III Jewellery and Valuables INR 50,000 INR 1,00,000 INR 2,00,000 INR 4,00,000
IV Breakdown of Domestic Appliances INR 50,000 INR 70,000 INR 1,00,000 INR 2,00,000
V Television and Desktop INR 25,000 INR 40,000 INR 60,000 INR 75,000
VI Fire and Allied perils (premises) (Full Sum Insured as per the value of the property) (Full Sum Insured as per the value of the property) (Full Sum Insured as per the value of the property) (Full Sum Insured as per the value of the property)
Total Premium for I-V Sections INR 1,125 INR 2,120 INR 3,880 INR 7,175
Fire & Allied Perils (Premises) 0.30 per mille 0.30 per mille 0.30 per mille 0.30 per mille

**Service tax to be applied

  • For Sections I to V, the first loss basis depends on the pre-fixed premium
  • No condition is used for average & under insurance for Sections I to V
  • Section VI covers the residential premises on Full Sum Insured
  • The condition of average & under insurance is applied only to Section VI
  • Ease in policy administration and claim management both

Claim Process for New India Assurance Griha Suvidha Policy

The New India Assurance Griha Suvidha claim settlement process is hassle-free. It does not require any unnecessary documentation, bills of ownership, etc. Claims below INR 20,000 will be settled automatically, while for claims above INR 20,000, the surveyor will visit the incident site, damages will be assessed & claims will be settled.

FAQs

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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