Bajaj Allianz Home Insurance Policy Buying Procedure
The Bajaj Allianz home insurance policy buying procedure gives you information about how to buy the home insurance policy. For buying Bajaj Allianz home insurance policy, following steps to be taken which are explained below.
Bajaj Allianz home insurance policy buying procedure following steps
- In Bajaj Allianz home insurance policy buying procedure the policyholder get the details of the policy benefits, coverage and premium details with your insurance advisor /Financial Institution/Insurance Company.
- Actively seek information on the charges and exclusions under this Bajaj Allianz Home Insurance Policy
- Fill the Bajaj Allianz home insurance Proposal Form with all required details.
- Ensure that the information given in the Bajaj Allianz home insurance Proposal Form is complete, accurate and sign the Proposal Form.
- Submit all documents which are mandatory such as Bajaj Allianz home insurance Proposal Form, Certificates related to possession of house etc.
- In order to avail of the insurance cover, the premium will have to be paid to us before commencement of the risk.
- The Policy Schedule and Policy Wordings will be sent to your mailing address mentioned on the Bajaj Allianz home insurance Proposal Form.
Instructions while filling Bajaj Allianz home insurance Proposal form
It is essential that you answer fully and accurately all of the questions contained in this Bajaj Allianz home insurance proposal form, and provide us with all additional information relevant to the risk to be insured or our decision as to the acceptance of the risk or the terms upon which it should be accepted. Your failure to comply with this obligation now may result in the rejection of your claim and the avoidance of your policy when a claim is made.
If you are in any doubt about the information to be given, please seek the advice and guidance of your insurance adviser or agent. If there is insufficient space in this Bajaj Allianz home insurance proposal form for you, to provide relevant information, whether as requested or otherwise, please attach a separate sheet to Bajaj Allianz home insurance proposal form and return it to us.
While filling following cover options the policyholder should take general instructions which are explained below
For Fire and Allied Perils: Reinstatement value means value for the new item of the same type and make. If not opted for Reinstatement value, cover will be on Market Value basis. Market value is the reinstatement value less depreciation depending on the age of the item. Please calculate depreciation in this regard at the rate of 10% for each year from the date of manufacture up to a maximum of 50%.
For Burglary and Robbery: Please provide a description of all valuables in the insured premises, excluding jewellery and electronic equipment, which are included in the respective section under this Policy. Sum insured for this section to be same as contents under Fire section.
Jewellery and Precious stones All risks: Please provide a description of all Jewellery and/or Precious Stones that you wish to insure along with their value.
- For items with value more than Rs.5000/-, valuation certificate to be provided
- Total coverage under this section is restricted to maximum 2 times the sum insured for contents under the fire section).
Baggage: Please provide details in relation to personal baggage, clothing, personal effects, medicines and all other articles that are generally carried during the period of travel anywhere within India, including a break-up of the value of such articles and a total value of all these articles combined as well.
Electronic Equipment: The Company will not provide insurance cover in respect of Electronic equipments, which are more than ten years old from the year of manufacture of such equipments.
For Personal Accident:
- Please restrict the sum assured under this cover to 60 times monthly income
- Sum assured for non-working spouse and children above 18 years is restricted to Rs.1,00,000 and for children below 18 years is restricted to Rs.50,000
- You should note that the cover under Temporary Disability Benefits and Hospital Confinement Allowance are not available for dependent children.
Public Liability / Workmen’s Compensation:
- Your liability for bodily injury and property damage to third-party
- Fatal Accidents Act 1855, the Workmen’s Compensation Act 1923 or any amendment thereto or under common law
Bajaj Allianz home insurance Proposal forms and Documents
Bajaj Allianz home insurance Policy documents and Proposal forms are attached below.