TATA AIG Bharat Griha Raksha Policy: Key Features

Disclaimer:The illustrated table is for reference purposes only. Kindly refer to the policy wordings to understand the exact policy coverage and specifications.

Inclusions of TATA AIG Bharat Griha Raksha Policy

The TATA Bharat Griha Raksha policy offers coverage of the following events-

• Physical loss or damage caused to the insured property due to fire, lightning, and explosion/implosion.
• Loss or damage due to earthquake/volcanic eruption or other nature’s fury.
• Loss or damage due to several natural calamities, such as storms, cyclones, tempests, hurricanes, typhoons, inundations, floods, etc.
• Loss or damage due to different types of fire, including forest, jungle, and bush fires.
• Damage landslide or rockslide in the subsidence of the land on which your home structure is built.
• Any impact damage caused by external physical objects, such as vehicle falling trees, walls, trees, etc.
• Malicious activities, such as riots and strikes, cause loss.
• Loss is covered as per the terrorism clause in case of a terrorist attack.
• Loss or damage caused by bursting, overflowing, or leakage from automatic sprinkler installations, water pipes, tanks, and apparatus.
• Damage caused by missile testing operations.
• Coverage for loss caused by theft within seven days and driven by the events mentioned above.

Exclusions of TATA AIG Bharat Griha Raksha Policy

Some common exclusions of the TATA Bharat Griha Raksha policy are as follows-

• Any intentional activity causing physical loss or damage.
• Damage due to war, invasion, and war-like operations.
• Any consequential loss or indirect damages.
• Loss or damage to bullion, gold, unset precious stones, manuscripts, and motor vehicles.
• Physical damage or loss caused to the added, extended or altered building structure more than 10% of its carpet area, which was not mentioned in the policy documents during purchase.
• Any cost or fee incurred for preparing claims.

*Disclaimer:To understand the entire list of inclusions and exclusions, kindly refer to policy documents available on the official website of the TATA AIG General Insurance Company.

What is Insured under TATA AIG Bharat Griha Raksha Policy?

You can cover the building structure under the TATA Bharat Griha Raksha policy. You can also cover additional structures, such as garages, balconies, domestic outhouses for residences, attached verandahs, retaining & compound walls, parking areas, water tanks, solar panels, permanent fixtures & fittings and attached/link roads.

In addition, the policy protects home contents such as refrigerators, television, furniture & fixtures, and other articles used in daily households. By paying an additional premium, a separate clause covers valuable contents such as jewellery, precious artwork, silverware, etc.

Further, the policy also pays for the following expenses-

• Coverage up to 5% of the claim amount for the fees of an architect, surveyor, and engineer to re-construct the damaged or destructed home structure.
• Coverage up to 2% of the claim for removing debris from the accident site.
• Coverage for the loss of rent and alternative accommodation rent since the damaged building structure is not fit for living due to the physical damage/loss from the insured events.

Who can Buy TATA AIG Bharat Griha Raksha Policy?

All homeowners, authorised occupiers, landlords, and tenants can buy the TATA Bharat Griha Raksha policy online. Note that you, an individual, can buy this cover only if the building is used for residential purposes. However, the building is being used for commercial activity.

How Sum Insured (SI) is Calculated for Tata AIG Bharat Griha Raksha Policy?

The policy offers coverage for the amount required to rebuild it. It is calculated based on the prevailing rate of construction of building the home structure at the time of commencement of the policy.

In the case of household content, there is an automatic cover for general contents for 20% of the SI for home building cover subject to a maximum of ₹ ten lakhs if you have purchased the coverage for both building and content. However, you can increase this amount by declaring the details, or you have a choice to ignore this cover. If you want to buy the home content cover, declare Sum Insured for General Content.

*Disclaimer- To understand how much you are entitled to receive in the event of an accident, refer to the policy wordings.

TATA AIG Bharat Griha Raksha Premium

The premium for the TATA Bharat Griha Raksha policy depends upon the amount of SI and several other factors that define the risk profile of the building structure and its contents.

For details, here is a table showing the premiums for different types of covers under the TATA AIG Bharat Griha Raksha policy-

*Disclaimer:The price and rates mentioned in the above table are only for illustration. The actual price and rates may vary.

TATA AIG Bharat Griha Raksha Claim Procedure

To initiate a claim for a covered loss under this policy, follow the steps outlined below-

Step 1: Notify Us Promptly: In the event of a loss, it is essential to inform us immediately. Your notice must include the following details-

• Policy number
• Name of the insured
• Description of the report made to the police
• Description of any report made to relevant authorities
• Details of the insured event
• A brief statement outlining the nature of the loss
• Information about any other insurance covering your home building or home contents
• Details of damaged or lost articles under any add-ons or optional covers
• Whenever possible, submit photographs showing the loss or physical damage.

Step 2: Report to Appropriate Authorities:Additionally, you must report the loss to the police, fire authorities, or any other relevant legal authorities as required.

Step 3: Take Necessary Steps to Prevent Further Damage:Take reasonable actions to prevent further damage to your home building and home contents.

Step 4: Collect Evidence:Get evidence related to the loss and gather relevant documentation. It may include taking photographs or videos of the damage.

Step 5: Assist in Evidence Collection:Cooperate with your representatives in collecting evidence and providing all relevant information, such as records, books of accounts, and other documents.

Step 6: Submit the Claim Form:Submit the claim form at the earliest opportunity, ensuring it is done within 30 days from the date you first notice the loss or damage.

By following the above steps, you can expedite the claims process. Once the insurance company verify that the claim aligns with the terms and conditions of the policy, the team will proceed accordingly.

FAQs about TATA AIG Bharat Griha Raksha Policy