The Bharat Griha Raksha policy is designed to provide economical coverage for your residential properties. The Insurance Regulatory and Development Authority of India (IRDAI) had instructed insurers to offer consumers a basic house insurance product when the policy was first offered in April 2021. So I will be explaining here what is ICICI Bharat Griha Raksha Policy.
Check your eligibility to get a home loan on NoBroker here. Search for your desired property at effective rates on NoBroker here.What is the meaning of the Bharat Griha Raksha Policy of ICICI?
Bharat Griha Raksha is essentially a type of home insurance that covers the loss, harm, or destruction of the home's structure, along with its contents and jewellery. You can add up to ten years to a Bharat Griha Raksha policy. Bharat Griha Raksha also offers a variety of extra covers that can be used to protect the home's valuable items.
What are the features of the Bharat Griha Raksha Policy of ICICI?
1) Damages CoveredThe typical home insurance policy covers a wide range of dangers, such as fire and natural disasters like earthquakes, landslides, rockslides, and collapse as well as storms, cyclones, typhoons, hurricanes, tornadoes, floods, and inundations. Additionally, it offers protection against bush, jungle, and forest fires. Additionally, Bharat Griha Raksha will also cover damage from man-made dangers including a riot, strikes, deliberate vandalism, acts of terrorism, and robbery.
2) TimeIf any of the dangers and man-made hazards listed in this insurance arise, Bharat Griha Raksha will offer coverage within 7 days.
3) Extended CoverageThe Bharat Griha Raksha policy automatically covers general home contents in addition to home construction without the necessity for a declaration of information. It offers 20% of the building's insurance payout up to a maximum of Rs 10 lakh. You can also choose a bigger sum insured for general items by disclosing the information.
4) Options CoverNumerous optional covers are available with the Bharat Griha Raksha policy. You can choose coverage for your valuables under the optional cover, yet in some cases, a valuation may be required. Examples of valuables covered include jewellery, silverware, paintings, works of art, and more.
I hope you understood the ICICI Bharat Griha Raksha Policy.
Read More: Is property insurance mandatory for a home loan as per RBI? How to cancel HDFC home loan insurance? Is property insurance mandatory for SBI home loans?Your Feedback Matters! How was this Answer?
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What is ICICI Bharat Griha Raksha policy?
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2023-04-18T08:49:32+00:00 2023-04-25T18:35:12+00:00Comment
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