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Bharat Griha Raksha Policy

Table of Content

What is Bharat Griha Raksha policy?

Bharat Griha Raksha policy provides coverage for home building and its content at an affordable premium. This policy 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. This policy covers your building and its contents against loss, damage and destruction caused due to theft, riot, strike, malicious damage, nature’s fury in the form of storm, flood, earthquake, etc.

Why is Bharat Griha Raksha policy Necessary?

Protection against natural calamities

For any property owner, a natural disaster that destroys the house is the biggest nightmare. Natural calamities such as earthquakes, floods, tsunamis, typhoons etc., can take cost of repairing the damaged property through the roof. It also puts a massive financial and emotional burden on the property owner. Bharat Griha Raksha policy protects you against the losses and damages caused by the natural calamity and helps you rebuild your house without having to dig into your savings.

Protection against man-made disasters

Apart from protecting you against natural calamities, this policy also covers you against any costs resulting from man-made disasters. It protects you against human catastrophes ranging from thefts and burglaries, to terrorist attacks, riots and strikes resulting in damage or destruction of property, among other things.

Protection beyond the property’s structure

This policy not only protects your house from physical damage, it also provides coverage for items inside the house. It also provides coverage against loss due to theft and burglary. Given that each Indian household tends to keep a number of valuables on hand, it makes practical sense to invest in a policy that will cover these items.

Features of Bharat Griha Raksha policy

Home Structure Cover

This policy protects the building structure of your home against listed perils such as fire, natural calamities (earthquake, flood, storm, cyclone etc.), riot, strike, malicious damage, acts of terrorism, explosion, impact damage etc.

Home Content Cover

This policy also covers the contents in your home. Where building structure is also covered, general contents are automatically covered for 20% of the Sum Insured of the Home Building subject to a maximum of ₹ 10 Lakh (Rupees Ten Lakh) unless you opt for a higher Sum Insured for Home Contents and declare the details.

Cover for Valuable Contents on Agreed Value Basis (Optional)

Valuable contents of your home such as jewellery, silverware, paintings, works of art etc. can be covered under this optional cover.

Personal Accident Cover (Optional)

If the insured peril causing damage to the home building and/or contents also results in the death of either the owner or his / her spouse, a compensation of Rs.5 Lakh (Rupees Five Lakh) per person would be payable.

Why buy Bharat Griha Raksha policy Insurance from Raghnall?

One Point of Contact

No need to coordinate with multiple points of contact and third parties. With Raghnall, you only need to stay in touch with us and no one else.

Product Expertise

At Raghnall, we have specialized underwriters and product experts who take time to understand your business and offer the coverages suitable to your needs.

Best Deals

As a fully independent broker we customize coverage catering to your needs and provide the best price for most comprehensive coverage.

Who should buy Bharat Griha Raksha policy?

Home Owners

Buying a house is by no means a small feat. In fact, in our country, buying a house is a long-cherished dream and a milestone that most people achieve after years of hard work. This calls for a protection which can be offered by a robust home insurance plan. Even if you are not living in your house at the moment, Bharat Griha Raksha Policy protects you against any damages that are likely to take place due to your tenant or natural occurrences.

Home Tenants

Insurance is essential even if you are not in a position to buy your own house but have shifted to a new city where you seek to rent a comfortable and safe place. Even though you won’t have the ownership of this place, you should consider getting this policy to cover the contents of your house. The policy will ensure that you have peace of mind knowing that your belongings are covered against any damage caused by perils like fire, storm, flood, earthquake, etc.

Frequently Asked Questions

The policy offers coverage for a maximum of 10 years.

Cover on a long-term basis under Bharat Griha Raksha shall be offered only to house/flat owners.

No, Only Carpet Area should be used to calculate the cost of construction i.e Sum Insured.

No, Inbuilt Perils cannot be excluded from the Policy.

Building Sum Insured = Carpet Area * Cost of Construction.

Home contents shall be automatically taken as 20% of the sum insured of the home building subject to a maximum of Rs 10 Lakh if the home building is covered. However, if the customer wants to cover more than 20%, he has to specify the Sum Insured of the building and its contents separately.

Personal Accident Coverage is limited to the Insured and their spouse. In case of death of Insured and/or their spouse (after the occurrence of insured peril) - Rs 5 lakhs per person can be claimed from the insurance company.