Protect Your House With Bharat Griha Raksha Policy!
Updated: 28-01-2025 at 6:32 AM
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In India, a house is a lifetime investment. However, according to a survey conducted by IRDA in 2017, only 36.6 per cent of the urban Indian population and 29.7 percent of the rural population were aware of home insurance and barely 3% of the houses in India have insurance. This is primarily because of a lack of awareness and the unaffordability of home insurance policy.
What Is Bharat Griha Raksha Policy?
The Bharat Griha Raksha Policy is one of the best home insurance policy in India. The IRDA (Indian Regulatory and Development Authority of India) introduced this home insurance policy to help individuals protect their safe places from getting damaged.
Bharat Griha Raksha Policy is a standard insurance policy made available at an affordable premium. This insurance covers various types of residential properties in India. IRDA made it compulsory for all general insurance companies to offer this home insurance policy from 1 April 2021.
What Does Bharat Griha Raksha Policy Cover?
Let’s take a look at what this insurance covers and does not cover.
Bharat Griha Raksha Policy Covers
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Loss or damage caused by fire, explosions or implosions.
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Damage or loss caused to the property due to natural calamities like earthquakes, storms, landslides, tsunamis, etc.
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Loss caused by forest fire or bushfire.
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Loss caused due to external impact.
Bharat Griha Raksha Does Not Cover
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Loss or damages to the electronic machines.
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Loss or damage caused to any equipment inside the home structure.
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Loss or damage caused by over-running or self-heating of machinery.
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Loss or damage because of one particular machine.
Understanding Bharat Griha Raksha Policy Better
Let us understand this home insurance policy with an example.
If a person’s insurance amount is maximum at Rs. 10 lakhs, then 20% of the interest is provided for the general contents that were inside the house. Any physical loss or damage caused to the property will be covered if it is reported within 7 days. For any severe damages, the cost will be covered for that as well.
Read More: E-Insurance Account - No More Policy Papers
Types Of Coverage Offered Under Bharat Griha Raksha Policy
The different home insurance policy types under the Bharat Griha Raksha Policy are.
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One Building Structure Cover
The insurance holder will get complete coverage for the damages caused to the building structure.
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Only Home Content Cover
This insurance covers all the content inside the house regardless of the total cost. The main content covered are furniture, electrical appliances, etc.
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Building Structure And Content Of Home Cover
The policyholder will get coverage against several risks like the building structure and contents.
What Are The Types Of Buildings Covered Under This Home Insurance Policy?
The following buildings can get protection under the Bharat Griha Raksha Policy.
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Independent buildings
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Villas
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Flats
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Housing society
How To Apply For Bharat Griha Raksha Policy?
Follow these steps to apply for this home insurance policy.
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Contact the nearest National Insurance Company Office.
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Get the printed proposal form.
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Fill out the form with all the details.
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Submit the form to the authorities.
Steps To Claim The Insurance
Read the following steps to know how to claim insurance after an incident.
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Inform the National Insurance Company immediately.
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Provide them with all the necessary details.
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Submit evidence of the loss or damage on the property.
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Report to authorities.
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Submit the claim form.
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Submit proof of the incident and the extent of the damage.
Conclusion
With the increase in prices of all home insurance policies, the Bharat Griha Raksha Policy is the easiest and most affordable way to protect the house and all the valuables inside the house. Be sure to take all required precautions to be ready for any unforeseen circumstances.
To read about the Bharat Griha Insurance Policy in detail, click here. For any queries regarding the Bharat Griha Raksha Policy, call 1800 345 0330 or send a mail to customer.relations@nic.in.
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