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Want to Buy an Affordable Home Insurance Policy? Choose Bharat Griha Raksha Cover

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Homeowners who are looking to secure their residence structure and content with an affordable premium can check out Bharat Griha Raksha insurance cover, which every insurer offers. Bharat Griha Raksha is a standard home insurance policy which has been made mandatory by the Insurance Regulatory and Development Authority of India (IRDAI) for every insurer to offer with effect from April 1, 2021. It is basically a home insurance cover that provides coverage against any unforeseen events. In addition, valuable content of the house can also be covered under Bharat Griha Raksha for upto 5 lakhs of Sum insured. You can check out an online home insurance policy on the HDFC ERGO website, where you can avail of discounts of up to 45%.

Why You Should Consider Buying Bharat Griha Raksha Insurance Cover?

• Higher sum insured coverage

Rather than the market value, the coverage under this policy considers the cost incurred in reinstating or replacing the covered items. Therefore, the sum insured can be higher than this value but not lower.

• Affordable Premium

Under Bharat Griha Raksha many insurers are offer the coverage at affordable rates. At HDFC ERGO you can cover home structure worth upto ₹ 10 crore. There is also a waiver of under-insurance under Bharat Griha Raksha. It basically means that if the sum insured, which is calculated on the basis of the information that you have provided to the insurer, is less than the actual value at risk, then the difference will not affect the amount payable

• Annual escalation of Sum insured benefit in the long term policy

The cost of building construction rises with time due to inflation, which means constructing the house ten years later would be multiple times the cost today. BGR policy comes with an auto-escalation feature under which the sum insured amount is raised annually to address this issue. The escalation of a 10% Sum insured every year is one of the worthy features of this standardized policy. Here the sum insured increases automatically during the policy period by 10% per annum on each policy anniversary without any extra premium for a maximum of 100% of the sum insured.

Optional Cover Under Bharat Griha Raksha Policy

• Cover for Valuable Contents

Get coverage for your valuables like jewellery, silverware, paintings, works of art, etc under this optional cover on agreed value basis.

• Personal Accident Cover

With this cover, the owner and his/her spouse gets compensation on death resulting due to the damage caused to the Home Building and/or contents by insured peril.

Add-on Coverage under Bharat Griha Raksha Policy

• Cost of Repairs

• Loss of Rent and Rent for alternative accommodation

• Architect, Surveyor and consultant engineer fee up to 5% of claim amount

• Costs of clearing debris - up to 2% of claim amount

Conclusion

Unfortunate incidents like a fire, flood or any natural calamity can cause irreversible damage to your property. Hence,

homeowners and tenants should consider buying an online home insurance policy with value-added benefits and discounts. Bharat Griha Raksha insurance cover can indeed meet your requirements as it comes with an affordable premium offering maximum coverage.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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