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Why You Need Home Insurance

Your home is your most valuable property. This is why you need to secure it with the right insurance plan. This Slideshare provides a guide to help you do so. http://www.bajajallianz.com/Corp/property-insurance/home-insurance.jsp

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Why You Need Home Insurance

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  1. What is Home Insurance • Home Insurance protects your property as well as the content inside like furniture, fixtures, clothing, electrical items and jewellery. • With the increasing occurrences of natural disasters such as earthquakes and floods and incidents such as theft, it has become highly imperative to safeguard your home and precious valuables.

  2. Need for Home Insurance • Essential Investment A house is one of the most important investments for anyone. It is a valuable asset that needs to be protected against dangers such as fire, theft, earthquakes, etc. • Protection Against Natural Disasters A house insurance can play a vital role in reducing the financial losses caused by natural disasters such as floods, storm, lightning, earthquakes and storms.

  3. Need for Home Insurance • Covers Jewellery and Other Valuable Content Inside Your Home Protect the contents of your home with a comprehensive home insurance policy. A contents cover can protect your belongings like jewellery, electronic items such as TV and refrigerator, and fragile items like plates and glass, against problems like theft, damage and loss. Artwork, curios and paintings can also be covered. • Availability of Add-on Covers Apart from the essential cover, with a little extra premium, you can opt for various add-on covers as well. For example: Bajaj Allianz My Home plan allows you to choose from add-on covers such as loss of rent, keys and locks replacement cover, lost wallet cover, dog insurance cover and much more.

  4. Who can buy the policy? • Any Owner Occupant of a Flat / Apartment / Independent Building which is less than 30 Years Old and which is not of Kutcha Construction can purchase this insurance policy for his "Building and/or Contents and Jewellery & Valuables". • Any Tenant and other Non-Owners of Residential Structure can insure the "Contents and Jewellery & Valuables" in the Flat/Apartment/independent Building occupied by them for residential purpose.

  5. Things to Consider Before Buying • Market Value or Reinstatement Value Market value is the value of your property less depreciation as per the age of the structure. Reinstatement value means the cost of rebuilding your house today. One should always choose the reinstatement value clause while purchasing home insurance. • All Risk Cover for Portable Devices If the age of all such devices in your household (mobile phones, laptop, I-pad, etc.) is less than 5 years, then it makes sense to go for this cover, because there is a clause of new-for-old, valid up to 5 years.

  6. Things to Consider Before Buying • Agreed Value Bajaj Allianz General Insurance Co. Ltd. has the Agreed Value clause which is beneficial if you are staying in an apartment or a multistoried building with different owners. Insurance companies cover the cost of construction on reinstatement or market value basis but in case of apartments, if after total loss the society is unable to rebuild the structure, the insured will get only the construction cost. To cover this risk Bajaj Allianz has come up with the Agreed Value clause, where one can at the time of total loss get the full value, while the ownership rights will be transferred to the insurance company.

  7. Things to Consider Before Buying • Jewellery Cover Chain snatching and burglary are very rampant in case of jewelry. One must get a cover for jewelry. Normally, for a sum insured up to Rs.10 lakh, self-declaration with the description of the jewelry (weight, type, price, etc.) is sufficient to take an insurance cover. But valuation certification is required if the cost of the jewelry is more than that. We provide worldwide coverage for jewelry, which means it is covered even when you are travelling with it. • Other Covers Artwork, curios and paintings can also be covered by providing the respective valuation to the insurance company.

  8. Benefits of Home Insurance with Bajaj Allianz • Easy Online Purchase • Provides complete protection for property, contents, interests of the insured and their family members in a single policy. • Useful add-ons to customize your policy. • Affordable premium • Attractive rebates

  9. Thank You Use these simple tips to buy the best home insurance for your needs.

  10. Powered by This 2-Minute Learning series is brought to you by: facebook.com/BajajAllianz twitter.com/bajajallianz www.bajajallianz.com youtube.com/user/jiyobefikar

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