BHARAT GRIHA RAKSHA POLICY
The Bharat Griha Raksha Policy is your trusted shield against the uncertainties of homeownership.
What's Public Liability Insurance
The BHARAT GRIHA RAKSHA POLICY (BGRP) is a standardized home insurance policy in India introduced by the Insurance Regulatory and Development Authority of India (IRDAI). It provides coverage for residential properties against various risks. Here’s an overview of the scope of coverage under this policy:
1. Standard Fire and Allied Perils
Fire: Covers loss or damage caused by fire, including damage resulting from lightning.
Explosion/Implosion: Includes damage caused by explosions or implosions.
Aircraft Damage: Covers loss or damage caused by aircraft, other aerial or space devices, and articles dropped from them.
Riot, Strike, and Malicious Damage: Provides coverage for damage due to riot, strike, or malicious acts.
Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, and Inundation: Covers damage from these natural calamities.
Impact Damage: Covers damage caused by impact from any rail/road vehicle or animal not belonging to or under the insured’s control.
Subsidence and Landslide including Rockslide: Covers loss or damage caused by the subsidence of the land or landslides.
Bursting or Overflowing of Water Tanks, Apparatus, and Pipes: Coverage for damage due to water overflow or bursting of tanks or pipes.
Leakage from Automatic Sprinkler Installations: Covers damage from accidental leakage from sprinkler installations.
Bush Fire: Covers loss or damage caused by a bush fire.
2. Additional Coverage
Earthquake: Optional cover for damage caused by earthquakes.
Architects, Surveyors, and Consulting Engineers Fees: Covers fees for professional services in case of a claim.
Debris Removal: Covers the costs associated with removing debris after a covered loss.
Start-up Expenses: Covers additional costs for re-starting the insured’s operations after a loss.
3. Home Content Coverage
Contents: Coverage for household contents (furniture, appliances, personal belongings) against risks covered under the policy.
Valuable Items: Optional coverage can be added for valuables such as jewelry, art, and other high-value items.
Alternative Accommodation: Covers the cost of renting a temporary residence if the insured property becomes uninhabitable due to a covered event.
4. Exclusions
The policy has standard exclusions typical of home insurance, including:
– Loss or damage due to war, invasion, act of foreign enemy, hostilities, or civil war.
– Loss or damage due to nuclear risks.
– Wilful or intentional damage.
– Losses due to wear and tear or gradual deterioration.
– Pollution or contamination unless directly caused by a covered peril.
5. Sum Insured and Reinstatement Value
– The sum insured should represent the reinstatement value of the property, i.e., the cost to replace or repair the insured property without depreciation.
This policy provides comprehensive coverage for homeowners against a wide range of risks, ensuring financial protection in the event of damage or loss to their residential property.
How to get the best policy
Find a specialized industrial insurance policy provider
You must deal with specialists. Since specialized insurance companies that deal with BHARAT GRIHA RAKSHA POLICY can give you a comprehensive solution. You need to search for one skilled insurance service provider.
Run a comparison study
You can find several sites offering you information about the various insurance providers, their policies and reviews. By running a comparison study, you can easily find an insurance company that is right for your needs and requirements.
Seek professional help
It would be advisable to find professional help to understand the policy, because, at times, it can be too technical for you to understand, and a person who is expert in the insurance business can help you in spotting the right kind of policy for your business. The insurance expert can make you understand the legal terms associated with the policies.
Read the terms and conditions carefully
You should read the terms and conditions. For instance, you need to know about the social exclusions, the add-ons of the policy, and more. Hence, take out some time and read the terms and condition carefully before buying the insurance plan.
Never let the business be vulnerable to the unpredictability of nature and happenings. You can keep everything under control by availing the best BHARAT GRIHA RAKSHA POLICY for your business and act with a sense of urgency when things go wrong without prior notice. So, stay safe.