SBI General Long Term Home Insurance Plan

Introduction

Every person dreams to have its home one day. And SBI General Insurance’s - SBI Long Term Home Insurance Policy protects your dream from unknown calamities. It provides a Building Sum Insured to cover your loss and helps you to strengthen financially.

Key Features and Benefits

  • Policy can be taken as long as 30 years, which provides a long term cover to you and your family.
  • Policy comes with inbuilt coverage of earthquake.
  • It provides protection to your house from both manmade as well as natural calamities.
  • Coverage against terrorism can also be provided on an additional payment.

Annual Premium Details

Policy Tenure

Building Sum Insured

 

5000000

4000000

3000000

2000000

5

10913

8730

6548

4365

10

14551

11640

8730

5820

15

21826

17461

13096

8730

20

29101

23281

17461

11640

Policy Details

Maximum and minimum Sum assured –

Sum assured can be arrived on the basis of (Cost of reconstruction/per sq. ft. * Area of construction in sq. ft.). As per standard procedure, reconstruction cost includes the value of plinth and foundation. It does not include the value of the land.

Policy Tenure

You can take the plan from a minimum tenure of 3 years up to a long tenure of 30 years according to your requirements.

Coverage

Fire

Lightning

Aircraft damage

Explosion/Implosion

Riot, Strike & Malicious damage

Impact damage

Storm, Cyclone, typhoon

Bush wire

Earthquake

Leakage from automatic sprinkler installation.

Missile testing operation

Bursting of water tank.

Policy termination -Policyholder is allowed to terminate the policy at any time by giving a 15 day written notice. In case no claim has been made under the policy, percentage of premium will be refunded.

Free look period -If you are not happy with the coverage, and terms and conditions of the policy, you have the option of cancelling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Exclusions

Forest fire

War or nuclear group of perils

Consequential losses

Pollution or contamination

Electrical or mechanical breakdown

Volcanic eruption

 

Documents

Policyholder has to fill up an ‘Application form/ proposal form’ and submit it along with the address proof and a photograph.