• Homeowners who aim to protect their residence structure and contents with an economical premium should consider Bharat Griha Raksha insurance cover, which is available through every insurer. Bharat Griha Raksha is a standardized home insurance policy that the Insurance Regulatory and Development Authority of India (IRDAI) has mandated for all insurers to offer starting April 1, 2021. Essentially, it is a home insurance cover that gives protection against unexpected events. Additionally, the valuable contents of the home can also be insured under Bharat Griha Raksha for up to 5 lakhs of Sum insured. You can explore an online home insurance policy on the HDFC ERGO website, where discounts of up to 45% are available.

Why You Should Consider Buying Bharat Griha Raksha Insurance Cover?

• Higher sum insured coverage
  Instead of the market value, this policy assesses the cost of reinstating or replacing the covered items. Consequently, the sum insured can exceed this value but cannot be lower.
• Affordable Premium
  Several insurers provide coverage at reasonable rates under Bharat Griha Raksha. At HDFC ERGO, you can insure your home structure for up to ₹ 10 crore. The policy also includes a waiver of under-insurance under Bharat Griha Raksha, which means that if the sum insured, determined by the details you provided to the insurer, is less than the actual value at risk, the shortfall will not impact the payout.
• Annual escalation of Sum insured benefit in the long term policy
  Building construction costs rise over time due to inflation, indicating that constructing the house a decade later would be significantly more expensive than current costs. The BGR policy offers an auto-escalation feature that raises the sum insured amount annually to tackle this concern. A 10% escalation of the sum insured every year is one of the advantageous features of this standardized policy, as the sum insured automatically increases by 10% per annum at each policy anniversary without any additional premium for a total of 100% of the sum insured.

Optional Cover Under Bharat Griha Raksha Policy

• Cover for Valuable Contents
  
  Obtain coverage for your valuables such as jewellery, silverware, paintings, and works of art under this optional cover based on an agreed value.
  
• Personal Accident Cover
  
  This cover offers compensation for the owner and their spouse in case of death due to damage caused to the Home Building and/or contents by an insured peril.

Add-on Coverage under Bharat Griha Raksha Policy

• Cost of Repairs
• Loss of Rent and Rent for alternative accommodation
• Architect, Surveyor, and consultant engineer fee up to 5% of claim amount
• Costs of clearing debris – up to 2% of claim amount

Conclusion

Unfortunate events such as a fire, flood, or any natural disaster can lead to irreversible harm to your property. Hence,
Homeowners and tenants ought to think about purchasing an online home insurance policy that includes value-added benefits and discounts. Bharat Griha Raksha insurance coverage can certainly fulfill your needs as it features an economical premium that provides maximum coverage.

Disclaimer:
The information provided above is for illustrative purposes only. For further information, please consult the policy wordings and prospectus prior to finalizing the sale.