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House holders Insurance
 
 

Suitability
Salient Features
Benefits
Requirements
Recommendations

Suitability

All the householders insurance needs are addressed and cover by a single package policy offered at economical rates of premium.

Salient Features

This is a Package Policy divided into 10 sections. The package includes the following sections:

  1. Fire Insurance of the building and contents (house hold contents). Insurance of contents against fire risks is compulsory and minimums of three covers are to be selected for issue of a package policy.

  2. Burglary, housebreaking. larceny and theft.

  3. All Risks, Insurance for Jewellery, ornaments and other valuables.

  4. Plateglass Insurance

  5. Breakdown of Domestic Appliances (Electrical and Mechanical failures)

  6. Television including VCR & VCP and music systems.

  7. Pedal cycle Insurance

  8. Personal baggage Insurance

  9. Personal accident with family package discount of 10%.

  10. Public liability & Employers liability.

Benefits

  • This being a package policy, only one proposal form is to be completed instead of separate proposal forms for individual policies.

  • In case of fire risks, while covers like explosion / implosion (other domestic gas cylinders or pressure cookers) and impact of rail / road vehicles are withdrawn as inconsequential, special risks like damage due to bursting and overflowing of water tanks, apparatus, or pipes are included in the policy.

  • By opting for Burglary section under this policy inspection of the premises is waived. The sum insured should be identical as selected for fire risks for contents.

  • In case of 'All risks' policy for Jewellery & other valuables, the premium rates being high, the insured is given an option to insure only such percentage of Jewellery, which may be taken out of bank lockers for use at a time.

  • By opting for more number of sections, a discount in the premium is allowed for non-tariff covers.

Requirements
A completed proposal form giving full details of the property to be insured, full value of Jewellery and individual values of each item to be given. As Personal Accident policy contains assignment facility, this part may be completed and witnessed.

Recommendations
Though there are individual policies to cover all the above risks, a single package policy would avoid cumbersome procedure associated with individual policies.

Please write to us at insurance@ratnaassociates.com for your requirements of an House Hold Insurance.

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