Coverage under the Oriental Sweet Home Insurance Policy

The Oriental Sweet Home Insurance Policy has three plans, i.e. A, B, & C, and each plan has five sections. The first Section is optional, covering the building against fire and allied perils, including earthquakes. However, the rest four sections are compulsory.

This policy has been designed for all individuals residing in India along with foreign nationals who own property in India (within the Indian Territory).

Section I- Coverage for Building

Under this Section, the homeowner can cover their building against fire and allied perils, including earthquakes. Individuals who hold lease/tenancy agreements can also look for coverage of their building under this Section. In addition, the policyholder can choose Sum Insured (S.I.) amongst ₹ 4, 6, and 8 lakhs under Plans A, B, & C, respectively.

Section II – Coverage for Contents against Fire & Allied Perils Including Earthquake on First Loss Basis (Excluding Jewellery)

This Section offers coverage for the content kept inside the premises against fire and allied perils. In this, the insured need not provide details of the required items to be insured. However, the condition is that the maximum value of the individual item shall not exceed 10% of the sum selected under plans A, B, & C, and the maximum liability of the company should be ₹ 1, 2, and 3 lakhs under Plan A, B, & C, respectively.

Section III – Coverage for Contents against Burglary and Housebreaking (Excluding Jewellery)

In this Section, the Sum Insured (S.I.) and the liability limit of the company are the same as per Section II. In addition, the insured does not need to provide the details of articles/items for which insurance is purchased.

Section IV- Electrical or Mechanical Breakdown of Appliances/Gadgets

Under this Section, the insured has to provide the details of electrical appliances or gadgets to be insured. The details are provided in the single-page proposal form. The liability limit of the company under this Section is ₹ 30,000, ₹ 50,000, & ₹ 70,000, respectively. The gadgets value proposed for insurance in this Section is the same as the part of S.I. under Sections I & II.

Section V- Personal Accident Coverage for the Insured and Spouse

Under this Section, the policy covers the loss of limb(s), permanent total disability, and accidental death of the insured and their spouse due to any insured perils on a floater basis. However, this policy has set an age limit of 18-70 years. If any of them were above 70 years of age, the other individual would be insured under this Section. However, if both are more than 70 old, no coverage will be offered, and the premium will be reduced from this Section.

You may also read- New India Assurance Griha Suraksha Policy

Table Showing Coverage and Value of Insurable Property under Oriental Sweet Home Insurance Policy

Points to Remember

• No short-period policy
• No option to alteration of S.I. (Sum Insured)
• In case of claims, no reinstatement of S.I.
• The geographical limit is within India
• The claim settlement shall be in the Indian currency only

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