- 1 New India Assurance Householder policy Introduction
- 2 Benefits of New India Assurance Householder policy
- 3 New India assurance Householder policy Cover Options
- 4 Exclusions of New India Assurance Householder’s policy
- 5 Claim Procedure of New India Assurance Householder policy
- 6 New India Assurance Householder policy Customer care
- 7 Additional Information of New India Assurance Householder policy
- 8 FAQ’s of New India Assurance Householder policy
- 9 New India Assurance Householder policy forms and Documents
New India Assurance Householder policy Introduction
New India Assurance company limited provides Householder policy and this policy is exclusively designed to meet all the insurance requirements of a householder. New India Assurance householder policy offers discount in premium depending upon the number of sections of the policy opted for, by the proposer.
Benefits of New India Assurance Householder policy
Discounts are separately provided in premium payment in the case of multiple covers. Under New India Assurance householder policy, various properties are covered which are given below.
- Domestic appliances
- Jewellery and other types of valuables
- Furniture items
- Other household items
New India assurance Householder policy Cover Options
Under New India Assurance householder policy 10 insurance cover options are available.
BUILDING AND CONTENTS (excluding jewellery and Valuables)
- Coverage for building
- Covers contents of the dwelling belonging to the proposer and his/her family members permanently residing with him/her.
Various Allied Perils covered under New India Assurance householder policy are listed below
- Fire, Lightening, Explosion of gas in domestic appliances
- Bursting and overflowing of water tanks, apparatus or pipes.
- Damage caused by Aircraft
- Riot, Strike, Malicious or Terrorist Act
- Earthquake, Fire and/or Shock, subsidence and Landslide (including Rockslide) damage
- Flood, Inundation, Storm, Tempest, Typhoon, Hurricane, Tornado or Cyclone.
- Impact damage.
BURGLARY AND HOUSEBREAKING INCLUDING LARCENY OR THEFT: Covers contents of the dwelling against loss due to burglary, housebreaking, larceny or theft.
ALL RISKS (JEWELLERY AND VALUABLES): Covers loss or damage to your jewellery and valuables by accident, worn or carried anywhere in India subject to the value declared in the schedule.
PLATE GLASS: Loss or damage to fixed plate-glass in the insured premises by accidental breakage subject to limit of sum insured.
BREAKDOWN OF DOMESTIC APPLIANCES: Under this New India Assurance Householder policy this option Covers domestic appliances against unforeseen and sudden physical damage due to mechanical or electrical breakdown.
T.V. SET INCLUDING VCP/VCR (ALL RISKS): Under this New India Assurance Householder policy this option Covers loss or damage to T.V Set including VCP/VCR by fire and allied perils, burglary, housebreaking or theft, breakage due to accidental external means, mechanical or electrical breakdown.
PEDAL CYCLES (ALL RISKS): Covers loss or damage to pedal cycles by
- Fire & allied perils
- Burglary, housebreaking, theft
- Accidental external means
- Third party personal injury or Third party property damage for Rs.10,000/-
BAGGAGE INSURANCE: Covers loss or damage to insured’s accompanied baggage by accident or misfortune whilst the insured is traveling on tour or holiday anywhere in India.
PERSONAL ACCIDENT: Under this New India Assurance Householder policy this option Covers Death or bodily injury by accidental, violent, external and visible means to the insured person named in the schedule and subject to limits specified.
PUBLIC LIABILITY: Covers Insured’s legal liability for body injury or loss of or damage to property of third-party limited to amount specified in the schedule and workmen’s compensation liability to domestic servants engaged in insured’s premises.
Exclusions of New India Assurance Householder’s policy
The Company shall not be liable in respect of
- Loss damage, liability or expenses, whether direct or indirect occasioned by happening through or arising from any consequences of war, invasion, act of foreign enemy, hostilities (whether war be declared or not) civil war, rebellion revolution, insurrection military or usurped power or civil commotion or loot or pillage in connection therewith.
- Loss or damage caused by depreciation or wear and tear.
- Loss or damage caused by Terrorism and Sabotage activities.
- Consequential loss of any kind or description.
- Loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by nuclear weapons material.
- This insurance does not cover loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
Claim Procedure of New India Assurance Householder policy
In case of any incident leading to a valid claim under the New India Assurance Householder policy, following steps should be taken:
- Take necessary steps to minimize the loss/damage.
- In case of fire, inform fire brigade immediately.
- In case of theft, larceny or burglary inform the police immediately along with a list of items stolen and their approximate value.
- Inform insurance company by phone or fax and in writing
- Extend full co-operation to the surveyor appointed by the insurance Co. and provide necessary documents to the substantiate the loss.
- A claim form issued by the New India Assurance company is also to be submitted.
- In case any rights of recovery exist against any other party responsible for the loss, your rights of recovery have to be subrogated to the insurance company on payment of claim.
Claim form of New India assurance Householder policy are attached below
New India Assurance Householder policy Customer care
Customer care number: 1800-209-1415.
The New India Assurance co.Ltd,
Additional Information of New India Assurance Householder policy
Cancellation: If the policyholder is not satisfied with this policy term, company provides free look period of 7 days from date of policy contract to cancel your policy.
FAQ’s of New India Assurance Householder policy
How to select the sum insured?
- For the insurance of household items, it would be necessary to group the items in a broad category like furniture, clothing , linen, utensils , crockery etc. and give a value equivalent to the market value i.e. the value for which this used item could be bought or sold in the market.
- Insurance cover options up to Baggage Insurance should be insured on market value basis.
- It is a condition for breakdown of domestic appliances , that the sum insured should represent the current replacement value of a similar item.
- However, the claim amount payable would be the amount required to bring the damaged item to the same condition as it was prior to the damage subject to the adequacy of the sum insured.
- The sum insured for Personal Accident should not exceed 72 months salary from gainful employment.
What are the exceptions covered under Building and Contents (excluding jewelry and Valuables) ?
Under this New India Assurance householder policy the company shall not be liable in respect of
- loss of or damage to articles of consumable nature.
- loss of or damage to money, securities, stamps, stamp collections, bullion, livestock, motor vehicles and pedal cycles.
- loss of damage of deeds, bonds, bill of exchange, promissory notes shares and stock certificates, business books manuscripts documents of any kind. unset precious stones and jewelry and valuables, unless specifically declared and covered.
What are the exceptions covered under Breakdown of Domestic appliances?
Some exceptions are considered under this New India Assurance householder policy are given below
- loss or damage caused by or arising out of wilful gross negligence of the Insured.
- loss or damage due to faults existing at the time of commencement of this insurance and known to the insured, regardless of whether such faults, or defects were known to the Company or not.
- loss or damage for which the manufacturer or supplier of the property is responsible thereby or under contract
- cost of transport to the repair shop and back to the Insured’s premises of any insured item arising out of any damage to such item.