Bajaj Allianz launches easy-to-buy home insurance

The policy covers your home and assets from fire and allied perils,burglary and theft,breakdown of domestic appliances,electronic equipments and baggage. The plan offers 3 options viz. Rs. 650,Rs. 1030 and Rs. 1910 being the premium amount. These low premium amounts make it affordable to a large section of the society comprising of young working couples,nuclear families,house owners tied up in housing loans,aged people for whom their home is the only asset as well as tenants in a rented accommodation to cover their assets.

Launching the product,Tapan Singhel,Chief Marketing Officer,Bajaj Allianz General Insurance,said,“Currently home insurance is considered a complex and difficult product to purchase due to the extensive documentations and declarations required in the sales process. As the name suggests,the policy provides a simple way to secure your home with hassle-free documentation at affordable prices. You do not need to provide any declarations of the assets being covered; just pick and tick the plan that suits your needs. ”

Another key feature of the policy is waiver of under insurance. This means that if the assets have been insured for a sum insured less than their value,in case of a claim,the entire sum insured will be payable and no under-insurance charges will be deducted,as in a regular home insurance. The policy also covers contents of the house in case of a fire,allied perils and burglary section that have been temporary removed.