A house is the biggest investment which we have to make in our life. There is no such place in the entire universe like home. After all, it is a place where you and your loved ones can make thousands of memories and celebrate a lot of events as well as functions that last a lifetime. So, while we put our life’s savings toward buying or building a home it needs protection in the form of insurance, and it is the best way, but we rarely realise it. With the help of New India Assurance Home Insurance, you can protect your home from unexpected things and threats, etc.
New India Assurance Home Insurance
Home insurance is one of the thought that everyone would like to save money for their future home needs. In the recent years, paying home Insurance has become easier. The internet has made it easy to get cheaper home insurance quotes by allowing you to compare the rates on offer from some different insurance providers. New India Assurance company limited provides householder policy for their customers, and this policy is exclusively designed to meet all the householder insurance requirements of the policyholder.
This is a package policy specially designed to meet the insurance requirements of a householder by combining under a single policy, some our standard policies usually taken by householders. Discount in premium is offered depending upon the number of sections of the policy, opted for, by the proposer. The life assured who are searching for the Household Insurance are at right place for knowing the complete details of New India Assurance Home Insurance information. The various sections covered in this policy are Fire & Allied Perils, T.V. Set including VCP/VCR (ALL RISKS), etc.
New India Assurance Household Insurance Features
The wide range of New India Assurance Home Insurance is listed here. The policyholders who want to take the Home Insurance need to check the features and its details in detail. The various New India Assurance Home Insurance Features are as follows
- Fire & Allied Perils.
- Burglary & House Breaking including larceny and theft.
- All Risks (Jewellery & Valuables).
- Plate Glass.
- Breakdown of Domestic appliances.
- T.V. Set including VCP/VCR (ALL RISKS).
- Pedal Cycles (All Risks).
- Baggage Insurance.
- Personal Accident.
- Public Liability.
Fire & Allied Perils
Following two are the basic classification of this section. The two basic methods are as follows
- Coverage for the building.
- Covers contents of the house belonging to the proposer and his/her family members were permanently residing with him/her.
The other various Related Threat under this New India Assurance is as follows.
- Riot, Strike, Malicious or Terrorist Act.
- Earthquake, Fire and Shock, Subsidence and Landslide (including Rockslide) damage.
- Flood, Inundation, Storm, Tempest, Typhoon, Hurricane, Tornado or Cyclone.
- Fire, Lightning, Explosion of gas in domestic appliances
- Bursting and overflowing of water tanks, apparatus or pipes.
- Damage caused by Aircraft.
- Impact damage.
Burglary & House Breaking including larceny and theft
This section covers the contents of the home against loss due to robbery, housebreaking, larceny or theft.
All Risks (Jewellery & Valuables)
In this Section, the policyholder will get the sum assured which covers the loss or damage to your jewellery and valuables by accident or misfortune while kept, worn or carried anywhere in India subject to the value declared in the schedule.
This Section tells about the loss or damage to fixed plate glass in the insured premises by accidental breakage subject to a limit of sum insured.
Breakdown of Domestic Appliances
Breakdown of Domestic Appliances covers domestic appliances against unexpected and immediate physical damage due to mechanical or electrical breakdown.
T.V. Set including VCP/VCR (ALL RISKS)
It covers loss or damage to T.V. Set including VCP/VCR by fire and allied perils, robbery, housebreaking or theft, breakage due to accidental external means, mechanical or electrical breakdown. Any legal liability arising out of bodily injury or accidental death of any person other than insured’s family members or employee as also damage to property not belonging to or in the custody of insured caused by the use of the T.V. Set which covers a limit of Rs.25,000/-.
Pedal Cycles (All Risks)
This Section covers loss or damage to pedal cycles by the following ways
- Fire & allied perils
- Burglary, housebreaking, theft
- Accidental external means
- Third party personal injury or Third party property damage for Rs.10,000/-
Baggage Insurance covers loss or damage to insured’s complete baggage by accident or misfortune while the insured is travelling on tour or holiday anywhere in India.
Covers Death or bodily injury by accidental, violent, external and visible means to the insured person named in the schedule and subject to limits specified therein.
Covers Insured’s legal liability for bodily injury or loss of or damage to property of 3rd party limited to the amount specified in the schedule and workmen’s compensation liability to domestic servants engaged in insured’s premises.
New India Assurance Home Insurance Buying Process
Visiting nearest New India Assurance company is the time-consuming process to buy new Home Insurance Policy. The Life assured those who want to take the new Home Insurance Policy need to check the complete details in the in this article.
- Application Form along with Passport Size Photograph.
- Age Proof.
- Address proof.
- Medical report etc.
How to Select the Sum Insured of New India Assurance Company?
The policyholders need to clarify your doubts about sum insured of new India assurance for the insurance of home appliances. During sum assured process it is necessary to group the items in a wide category like furniture, clothing, linen, utensils, crockery, etc. and give a value equivalent to the market value i.e. the value for which this used item could be redeemed or sold in the market. Features 1,2,3,4,6,7,8 should be insured on the market value basis which is given on this page.
- In the case of 5th feature like a breakdown of domestic appliances then the sum insured should represent the current replacement value of a similar item.
- For Example, if we insure 190 Ltr LG fridge which is five years old then the sum insured should be equal to the cost price of new 190 Ltr LG fridge.
- In a case of Personal Accident like the feature 9, the sum insured should not exceed 72 months salary from gainful employment.
New India Assurance Home Insurance Claim Procedure
In case of any incident influence to a substantial claim under the policy taken. The policyholder needs to follow the steps to claim your Home insurance
- To minimise the loss/damage taking necessary steps are important.
- In fire situations, notify to the fire brigade immediately.
- Extend full cooperation to the surveyor appointed by the insurance Co. and provide necessary documents to the substantiate the loss. Submit the claim form which is assign by the company.
- The insured should inform the insurance company through a phone call or fax by writing.
- Larceny or burglary was done by the theft, in that situation just inform to the police immediately along with a list of items stolen and their approximate value.
- In case any rights of recovery exist against any other party responsible for the loss, your rights of recovery have to be subrogated to the insurance company on payment of the claim.
Please contact your nearest NIA office for other details regarding the doubts you have.
Exclusions of New India Assurance Householder’s policy
In some cases as mentioned in this page, the company shall not be liable to pay the sum assured.
- Loss or damage caused by Terrorism and Sabotage activities.
- Consequential loss of any kind or description.
- Loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by nuclear weapons material.
- This insurance does not cover loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by ionising radiations or contamination by radioactivity from any nuclear fuel or any nuclear waste from the combustion of nuclear fuel.
- Loss or damage caused by depreciation or wear and tear.
- Liability or expenses, Loss damage, whether direct or indirect occasioned by happening through or arising from any consequences of war, invasion, act of foreign enemy, hostilities (whether war be declared or not) civil war, rebellion revolution, insurrection military or usurped power or civil commotion or loot or pillage in connection therewith.