SBI Simple Home Insurance Policy
SBI Simple Home Insurance Policy is a comprehensive property insurance plan that protects the home structure and its content against potential risks and losses. This package policy also covers theft and burglary, reimbursing the insured for their belongings that may be stolen or damaged.
SBI Simple House Insurance Policy
| Categories |
Key Benefits |
| Policy Duration |
03 years |
| Buildings Covered |
All the residential properties |
| *Key Specifications |
Coverage against natural disasters.
Protection against theft and burglary of insured content.
Comprehensive policy covering various risks. |
| *Key Coverage |
Covers the damage caused by an act of sabotage/terrorism.
Coverage for lending institutions' collaterals, ensuring that assets purchased under loans remain secure. |
*Disclaimer: The above table is for illustration purposes only. For exact coverage and related benefits, kindly review the policy wordings available on the SBI General Insurance Companies’ official website.
Inclusions of SBI Simple Home Insurance Policy
The SBI Simple home insurance policy provides coverage for various causes of physical loss, damage, or destruction to the insured property against the following perils-
- Explosion or implosion
- Fire and lightning
- Damage impact due to earthquake, volcanic eruption, or other nature’s fury
- Storms, typhoons, tempests, cyclones, tornados, tsunamis, hurricanes, floods, and inundations
- Landslides, rockslides, and subsidence
- Different types of fire- bush fire, forest fire, or jungle fire
- Impact damage
- Missile testing operations
- Riots, strikes, or malicious activities
- Bursting or overflowing of pipes, apparatus, and water tanks
- Leakage while automatic sprinkler installations
- Theft or robbery within seven days from the occurrence of and proximately caused by any of the above-insured perils
- Damage caused by an act of sabotage or terrorist attack
- Electrical or electronic appliances breakdown.
Exclusions of SBI Simple Home Insurance
The following contingencies or losses are not covered under the SBI Simple home insurance policy-
- Loss, damage, or destruction due to war, invasion, or war-like situation
- Illegal activities
- Willful/ self-caused injury/incident caused by the policyholder or their family member/domestic help
- Ionizing radiation contamination
*Disclaimer: The above pointers are for illustration purposes only. For full details of the inclusions & exclusions of the policy, kindly refer to the policy wordings available on the insurer's website.
How is SBI Simple Home Insurance Premium Determined?
Your SBI Simple home insurance policy is based upon three primary factors-
- Location of the home
- SI (sum insured)
- Policy tenure
SBI Simple Home Insurance Claims Procedure
To make your claim insurance procedure simple and hassle-free, Policybazaar's super-efficient customer support team is available. Here are some steps you need to follow to raise claims under your SBI Simple home insurance policy-
- Inform the legal authorities when an emergency hits you as early as possible and take all the necessary steps to prevent further losses.
- Immediately inform the police authorities if an act of theft, burglary, terrorism, or strikes causes any loss to your insured property or its content.
- Download the claim form, fill it up, and submit it. You can directly connect with the Policybazaar Insurance Brokers Private Limited claim assistance team by calling 1800-258-5970.
Note: Ensure you take all the necessary actions to prevent further losses and do not sell/dispose of any insured content until your insurance company gives the orders.
You may also read- SBI General Long-term Home Insurance Policy.
