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Royal Sundaram Gruh Suraksha Home Insurance

Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialized insurance products in fire, marine, engineering, liability and business interruption risks to commercial customers. Royal Sundaram has over 2000 employees with 150 branches across India and its products are distributed through various channels-agents, distribution partners, affinity partners, brokers and online.
Gruh Suraksha Home Insurance Plan is a comprehensive package of insurance benefits designed to cover Building and Household articles like Contents, Appliances, Jewellery, Mobile equipment etc.
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Hence getting a good home insurance cover is of critical importance to any homeowner. Gruh Suraksha Home Insurance Plan is a comprehensive Home Insurance Plan offering comprehensive home insurance solutions to every discerning customer. Gruh Suraksha Home Insurance Plan offers coverage under the below 2 sections:

Building

  • Coverage available on reinstatement value basis from silver plan onwards.
  • Comprehensive cover including fire and allied perils and earthquake.
  • Coverage for compound wall and landscaping too.
  • Policy can be taken for a long term tenure of up to 20 years.
  • Escalation benefit to increase the base sum insured each year by 10% for the full policy tenure.
  • Option of tenure discount, if escalation benefit is not opted.
  • Optional add on covers for rent for alternate accommodation and loss of rent.
  • Coverage includes loss or damage to doors and windows due to burglary.

Contents

  • Coverage available for up to Rs50 lakhs each for contents, appliances & jewellery.
  • Coverage available for mobile phones, I-pad, I-pod, laptops and palmtops up to Rs10 lakhs.
  • Coverage for external equipment’s like DG set,Water treatment plant & solar water heater up to Rs10 lakhs.
  • Coverage for temporary resettlement of 1 week up to Rs 50,000/-.
  • Coverage for loss of cash up to Rs25,000/-, while returning from bank.
  • Optional PA & Employee compensation cover for employees working at home.
  • Option to choose a policy tenure of up to 3 years.
  • Comprehensive cover which will include, depending on the sections / plan opted, fire and allied perils, burglary, electrical and mechanical breakdown and accidental damage.
  • Features
  • Items Covered
  • Coverages
  • Exclusions

Features of this Plan

  • Building
    • Building insurance of up to Rs.5 crores without any inspection
  • Household Articles
    • Get cover of up to Rs.1.7 crores for household articles
  • Escalation Benefit of 10% each year for long term policies.
  • Coverage available for contents, appliances, jewellery, mobile equipment and more.
  • Comprehensive cover for flat / house, including compound wall and landscaping.
  • Zero depreciation cover available in Diamond Plan.
  • Add on covers for rent for alternate accommodation and loss of rent.
  • No inspection or documentation.

Items that can be Covered in this plan?

  • Household contents
  • Household Appliances
  • Jewellery and Valuables
  • Third Party Liability
  • Mobile Equipment’s
  • Baggage
  • External Equipment’s
  • Temporary Resettlement Expenses
  • Loss of cash
  • Personal Accident to Household Staff
  • Employee Compensation to Household Staff
  • Coverage against terrorism

Coverages under Gruh Suraksha

Gruh Suraksha Home Insurance Plan - Section 1 - Building
Product Benefit Table - Sum Insured
Plan/Coverage Bronze Silver Gold Platinum Diamond
Indemnity Value Basis Reinstatement Value Basis
Building Up to 15 lacs Above Rs.15 lacs to Rs.25 lacs Above Rs.25 lacs to Rs.50 lacs Above Rs.50 lacs Above Rs.50 lacs
Loss of Rent(max 6 months) Rs.5,000 per month Rs.15,000 per month Rs.15,000 per month Rs.25,000 per month Rs.25,000 per month
Rent for Alternate Accommodation(max 6 months) Rs.10,000 per month Rs.25,000 per month Rs.25,000 per month Rs.50,000 per month Rs.50,000 per month
Gruh Suraksha Home Insurance Plan - Section 2 - Contents
Plan/Coverage Bronze Silver Gold Platinum Diamond
Sum Insured Per item limit Sum Insured Per item limit Sum Insured Per item limit Sum Insured Per item limit Sum Insured Per item limit
Contents1 50,000 10% 5 lacs 10% 15 lacs 10% 25 lacs NA 50 lacs NA
Appliances 25,000 10% 5 lacs 10% 15 lacs 10% 25 lacs NA 50 lacs NA
Jewellery & valuables 50,000 20% 5 lacs 20% 15 lacs 10% 25 lacs NA 50 lacs NA
Third Party Liability - NA 5 lacs NA 15 lacs NA 25 lacs NA 50 lacs NA
Mobile equipment - NA 2 lacs 10% 5 lacs 10% 7.5 lacs NA 10 lacs NA
Baggage - - - - 5 lacs 25% 7.5 lacs 25% 10 lacs 25%
External equipments2 - - - - 5 lacs 25% 7.5 lacs 25% 10 lacs 25%
Temporary Resettlement 10000 in all NA 25000 in all NA 25000 in all NA 50000 in all NA 50000 in all NA
Loss of Cash 5000 in all NA 15000 in all NA 15000 in all NA 25000 in all NA 25000 in all NA
Personal Accident for Employees Max up to Rs.5 lacs/emp NA Max up to Rs.5 lacs/emp NA Max up to Rs.5 lacs/emp NA Max up to Rs.5 lacs/emp NA Max up to Rs.5 lacs/emp NA
Employees Compensation Actual Annual Wages NA Actual Annual Wages NA Actual Annual Wages NA Actual Annual Wages NA Actual Annual Wages NA
Terrorism (Optional) For 1 year Only
Plans Max available SI for Contents, Appliances
& Jewellery sections		 Mobile Equipment's Section External Equipment’s Section Total SI for items placed at home falling under these sections
Bronze Rs 1,25,000 Nil Nil Rs 1,25,000
Silver Rs 15,00,000 Rs 2,00,000 Nil
Gold Rs 45,00,000 Rs 5,00,000 Rs 17,00,000 Rs 5,00,000 Rs 55,00,000
Platinum Rs 75,00,000 Rs 7,50,000 Rs 7,50,000 Rs 90,00,000
Diamond Rs 1,50,00,000 Rs 10,00,000 Rs 10,00,000 Rs 1,70,00,000

Exclusions under Gruh Suraksha

Some of the key exclusions under this plan are below, please however refer to the policy wordings for the complete list of exclusions:
  • Any costs incurred in connection with the elimination of functional failures unless such failures were caused by an indemnifiable damage
  • Loss or damage by Burglary and Housebreaking including Theft where any member of Your family is involved as a principal or an accomplice.
  • Loss or damage due to faults or defects existing at the time of commencement of this insurance
  • Loss, damage and/or liability caused by or arising out of the willful or unlawful act/conduct/neglect or gross negligence of you or any person acting on your behalf.
  • Loss, destruction, damage, liability or expenses whether directly or indirectly occasioned by or happening through or arising from any consequences of war, invasion, act of foreign enemy, hostilities (whether war be declared or not),civil war, mutiny, rebellion, revolution, insurrection or military or usurped power, civil commotion, loot, pillage, seizure, capture, arrests, restraints & detainment.
  • Loss, destruction or damage caused to the insured property by seepage, pollution or contamination irrespective of however been caused
  • Loss or damage to items of consumable nature
  • Any kind of loss or damage to data, software or any kind of programming or instruction set.
  • Loss or damage to contents by wear and tear, depreciation, insects, vermin, rodents, pets, animals, moth, fungus, pests, insects or mildew, corrosion, rust, atmospheric or climatic conditions, ingress of water, gradually operating cause, process or cleaning, restoring, renovation dyeing, repair, alteration
  • Loss or damage caused by or arising out of or traceable to erection, repairing or dismantling of the insured apparatus (not applicable in respect of contents and appliances section under Platinum & Diamond plans)
  • Any loss or damage to the insured property or to the general public and/ or legal liability arising out of immoral or unethical use of insured property
  • Buildings of age more than 30 years old
  • Damage caused by depreciation or wear and tear or which are pre-existing in nature or which falls under the terms of a maintenance agreement.
  • Loss or Damage or Collapse of “Building” due to structural defects, latent defects of poor maintenance, workmanship.
  • Any legal liability liable arising out of use of pedal cycle

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