Home Owners Package Policy – IFFCO TOKIO

Coverages IFFCO TOKIO 
Standard Fire and allied perils with all standard conditions (Building and contents) Yes covered with standard conditions. All standard exclusions and deductible of fire policy applies
Debris removal Yes if valid claim under fire section. Up to 10% of total SI in excess of 1% of claim amount. Dismantling/Demolition/Shoring/Propping up is covered but not in respect to contents.
Professional fees If valid claim under fire section. Cost of architects, surveyors, consulting engineer fee for plans, specifications etc. for damage to building insured Up to 7.5% in excess of 3% of claim amount payable.
Other Perils Impact damage by falling trees telegraph/electric poles, aerial fittings and like, action of civic authorities preventing spread of fire. Cost of removal up to 5000/- in excess of 250/- in one policy period.
Contents In fire and allied perils section: – Furniture, fixture and fittings, including tenant’s interior decorations, clothing’s, household linen, crockery, cutlery, kitchenware, television and video equipment’s, electronic equipment, electrical and mechanical equipment’s/fittings, other household goods and personal effects including toys, books, cassettes and compact discs, luggage items, telephone, gas, etc. No single piece of item will be valued at more than 10% of the Sum Insured under General Items, unless declared below. Exclusions apply. Exclusions (articles of hazardous nature, air/water craft/motor vehicles/trailers and like), livestock’s or pets, bullions/stones.
Specifically declared items In fire and allied perils section: – Jewellery and Valuables, Business goods or equipment’s for providing professional service (upto Rs. 25,000/-), Money (upto Rs.10,000/-), Curios and work of arts (upto Rs.10,000/-), Manuscripts, plans, drawings, securities, documents, books of accounts or other business books and computer system records but only for the cost of material and clerical labour expended in reproducing the documents and not for any other value. (upto Rs. 10,000/-), any other. Exclusions apply.
Terrorism Yes Covered.
Earthquake Yes Covered.
Additional expenses for rent for alternative accommodation If covered under fire policy. In equivalent area. Maximum indemnity of 1 year. For owner occupant (additional rent minus standard rent), For Reasonable additional rent (may be after protection of tenancy rights) equivalent to the locality, municipal city or town.
Loss of Rent Not Covered
Burglary and Theft Yes. Theft or attempted theft including larceny, robbery and dacoity. Exclusions (unoccupied for 60 days, anything traditionally kept outside home max liability 2000/- excess 500/-). If locking system of external doors, safe or almirah are damaged using force of keys or damage max 1000/- in excess 100/- in any one policy period.
Purchase Protection Not Covered
Unit improvements and betterment Not Covered
Change of residence Yes fire and special policy section and burglary and housebreaking section wrt contents applies to a new home of yours (in India, distance 50 km) as well as to your old home for 10 days you begin to move your contents including loading/unloading/transit for permanent removal of contents. Excess of 1000/- for every claim. Breakage of bridges and overturning/derailment covered. Notification within 10 days of movement.
Repair Costs Upto 15000/- in excess of 500/- for exploratory and repair costs for finding the source of water damage and repairing/reinstating damaged property by bursting and overflowing of water damage and pipes. Upto 10000/- for repair of underground pipes, cables and services (including sewerage tanks and drain inspection covers) in respect to insured home.
Title Deed Not Covered
Local Authority Requirement Yes additional cost of reinstatement of property damage to comply with building or other regulations enacted by any act or municipal bylaws. Exclusions (Notice served before)
Loss assessment coverage Not Covered
Tenants Legal Liability If legally liable as a tenant on account of insured perils (fire and burglary) wrt Building, electrical installation, over/underground tanks, glass/sanitary fittings, other fixture/fittings other interior decorations. Exclusion: – Not under your possession.
Credit or debit cards, Cheque forgery Yes damaged by accident or misfortune. share and stock certificates, deposit receipts, Insurance policy, Passport, Driving License, personal records and certificates, ATM/Cash and Bank cards. Upto max 20000/- in excess of first 500/- Exclusions (documents for trade and business purposes, title/deeds/plans/manuscripts, gradually operation cause, confiscation by legal authority, loss in value due to error omission, fabrication/forgery/theft by family member or domestic staff, not reported to police, loss from unattended vehicle, mysterious disappearance)
Plate Glass Yes covered with sanitary fitting. Frame and framework, Cost of lettering/embossing/silvering if included in SI, Cost of damage to contents if followed by breakage of glass and sanitary fittings upto 2000/-. An excess of 5000 wrt each claim, Exclusions (not fixed properly, breakage during removal/repair, Consequential loss, Disfigure or scratches.
Pedal Cycle Yes including accessories permanently fitted due to accident/misfortune. Legal liability and defense costs to third party upto 25000 in one policy period. Excess of 10000 each and every claim. Exclusion: – unless securely locked, accessories if cycle not stolen, racing/competition, overloading/mechanical breakdown/wear and tear, employee/family/conveyed on cycle, property conveyed on cycle/belongs to you/family or responsible.
Loan Payment Protection Insured Person Becoming totally disabled (disease/accident) for a period excess 30 days, confined to a hospital minimum 3 days. EMI is paid on behalf of insured max 12 months. Exclusion: – Claim not admissible under PA, Below 21 and above 60, Pregnancy, mental or nervous disorder, person not in gainful employment)
Baggage Insurance Yes. Market value if damaged by you/family member in accident or misfortune. Exclusions: Excess of 500 for each and every damage. Theft reported within 24 hrs to police. Breaking/scratching unless damaged by accident to vessel/train/aircraft, moth/vermin or cleaning/repairing, apparatus or machine by electrical or mechanical breakdown, Theft from unattended vehicle unless all openings are securely locked, conveyed by contract of affreightment, covered by a separate policy or under any section of this policy, leakage/spilling/exploding of liquid or like or articles of damaging nature.
Loss of contents while in Transit Not Covered
Loss of cash while in transit Personal money belonging to you and your and your family. Due to theft or attempted theft with force, robbery, snatching, dacoity or hold-up whilst in transit within 12 hrs of withdrawal of Money from bank, ATM transaction centre or receipt of salary in cash. Max 10000/- in any one policy period. Exclusions (loss of money entrusted to others than family, pickpocketing/disappearance/shortage, unless FIR is lodged within 24 hours).
Impact damage due to construction in the neighbourhood Not Covered
Property removed Yes any place within India being used as temporary residence insured contents for max 120 days for an insured peril at temporary residence. Liability restricts to 10% wrt each insured item.
Electronic equipment’s Insurance Electronic equipment installation (computer/fax/any other including data carrying material of you/family or are responsible contained in home. , Cover applicable after successful of acceptance tests, while dismantled/overhauled for cleaning purposes, Shifted within home, or resection. Exclusions: – For upto 1 lakh (5% of claim amount min 1000, 10% of claim amount min 25000 for Winchester drive). For more than 1 lakh (5% of claim amount min 2500, 25% of claim min 10000 for Winchester drive, pre existing, wilful miscount, wear and tear/corrosion/climatic condition, elimination of functional failure, supplier responsible, rented equipment’s owner responsible, cost other than delivery of equipment damaged, consumables, alteration/improvement, other than authorized representative. Portable computer, mobile phone, electronic diary, data carrying material for normal functioning of computer,  for you/family in custody or responsible in anywhere in world in accordance with electronic equipment cover. Exclusions (Excess 10% min 250, Theft not reported to police 24 hrs, unattended vehicle fully locked, disappearance, liquid or like seepage/spilling,.
Domestic appliances (Home entertainment appliances: – TV sets and accessories, cable/dish receiver, video equipment, aerial fittings for you/family responsible. Exclusions: – excess of 5% of claim or 500, external antennae etc by theft, picture tube/tape use contrary to manufacturer (any max age not mentioned). Any domestic electrical/mechanical appliance upto 7 years of belonging due to sudden/unforeseen clause results in stoppage of function repair/replacement is carried. cost of dismantling/installation for repair, cost of freight/customs/duties for parts. Excess of 1% of SI or 250/-.Exclusion(if covered under fire or burglary cover, supplier responsible/warranty, overload experiment, wear and tear, gradually developing flaws not necessitating immediate stoppage, wilful misconduct, consumables, cost of transportation, confiscation/commandeering by any authority.
All risk – Specified articles Damaged due to accident or misfortune within India damage paid or repair/reinstatement. Jewellery (gold/Silver/Platinum/Other precious stones), Other valuables (watches/clocks/ furs), Photographic equipment’s (cameras, microscope, telescope etc including accessories, musical and sporting equipment’s (including accessories). Excess of 1000/- or 5% of claim amount. Exclusions (property used for trade or professional purpose, any misconduct by you/family/guests/travelling companion, any amount excess 10000 wrt larceny or disappearance from any hotel/private apartment, in custody of any person other than you and family, moth/vermin, dying/repairing, mechanical and electrical breakdown, overwinding of watches, theft from any unattended vehicle until all openings are securely locked and fastened liability max 20000, conveyed under affreightment contract, mysterious disappearance, money/security/documents of any kind, breakage/chipping unless damage results from conveyance, remaking any film/disc/value of information, musical instruments-loss of tone/strings/needs, sports-shuttlecocks/balls/racket strings.
Expenses towards temporary resettlement Not Covered
Public Liability Damages by you/family/servant is liable by law to third parties for injury/damage to property. Damages/Third party legal costs/Your legal costs. Exclusions: – Normally residing in home, liability by trade or business, by custody of animals/ships/boats and crafts, Fines/Punitive and like, domestic servants activity as a private individual.
Employers Liability NA
Workman compensation Death/injury/disease to any domestic employee mentioned in the schedule in course of employment legal liability by Fatal Accident Act 1855,Workmen’s Compensation Act 1923 and defense costs third party/yours is payable. Exclusions: Contractual liability, interest or penalty, who is not a workman within meaning of law.
Medical/Hospital expenses to third party Not Covered
Medical/Hospital expenses to the insured Not Covered
Personal Accident Basic/Wider/Comprehensive. Natural Death, TTD benefit 5000, Transportation of dead body (2% or 2500), cost of clothing (1000 max), ambulance (1000 max), Education Fund (10% or 5000/10000), Loss of employment (10% max 15000), Medical add on (25% of PA claim or 10% of SI), If PTD 10% of SI in addition to CSI for rehabilitation and modification of home or car. Exclusions: more than one benefits/claims, suicide/drugs or alcohol/adventurous sport or hazardous activities/breach of law or criminal intent/war risks/pregnancy/consequential loss, army/navy/air force operations, veneral or sexually transmitted disease.
Personal property owned by guest or resident employee Yes for guests staying at home 10000/- and for domestic staff 5000/-
Increased Living Expenses In case of fire and allied perils then cost of evacuation you/member/domestic employees, Emergency treatment you/member/domestic employees upto 10000, max liability for all accidents 50000 in policy period, hiring Furniture, electrical fittings and gadgets earlier used, removal transportation within 50 kms from home, emergency accommodation at hotel upto 48 hrs max 5000 single time and 15000 in policy period. Exclusions (cost of food/clothing/durables, covered under any other section, for products not utilised by you, unless inhabitability is proved by municipal.
Loss of wallet cover Not Covered
Wedding Benefits Yes SI for each contents automatically increases by 15% during 15 days each before and after wedding day. Not for postponement of wedding.
PET Veterinary expenses if pet is injured as a road traffic accident. Death if robbery, terrorism, dacoity or road accident (within 30 days). Excess of 10% of claim amount. Exclusions (Euthanasia, Post mortem, disposal, not owned by you, ptd/ttd)
TREES AND PLANTS If any tree or plant located inside the boundary gets damaged by fire and allied perils or burglary housebreaking or theft, market value max 20000/- is paid. Excess 10% of every claim or 500/- whichever is higher for each and every claim. Exclusion (damage to lawn).
Agreed Bank Clause No
Escalation Clause No
Reinstatement value clause No
Omissions to insure, additions or extensions No
Reinstatement of Sum Insured No
CLAIMS SETTLEMENT Repair, replacement or reinstatement. Plans, specification costs to be borne by insured. Rest basis is same of claim settlement.
GENERAL CONDITIONS Free Look up period of 15 days. Other Conditions apply.