Policy Wording of Home Insurance(Bajaj allianz Gen.Ins.Co.Ltd.) |
||
SECTION I:
FIRE & ALLIED PERILS |
||
| Fire can cause huge damages, which can affect your finances. We provide a policy which covers dangers such as : | ||
| a) | Building and contents | |
| b) | Fire, Lightning, Explosion/implosion, Aircraft damage, damage from rail/road, vehicle or animal, Riot/Strike, Storm, Cyclone, Flood, Earthquake, Landslide including rock slide, Missile testing operations, Leakage from automated sprinkler installations and bush fire | |
| c) | The sum insured (Value denoted for insurance) can be either on: | |
| d) | REINSTATEMENT VALUE basis (which is the value for replacing the item with a new item of same type and make). At the time of loss the claim will be settled without applying depreciation. In effect you will be getting new for old | |
| e) | MARKET VALUE basis (Which is the reinstatement value less depreciation depending on the age of the item). At the time of loss, the claim will be settled after applying depreciation | |
| f) | The electronic equipments/TV etc. which you wish to cover under the respective section need not to be insured under this section | |
| g) | For wall units and similar furniture, which are fixed to the walls, the sum insured to be included in the value of the building, if the building is insured | |
| EXTENSION : | ||
| - 5% of the claim amount for every claim arising out of Act of God perils | ||
| - Damage due to terrorist activities | ||
| Note: Terrorism Cover Extension can be opted by paying extra premium | ||