LONG TERM HOME INSURANCE -From SBI General Insurance

Key feature:

• You can buy the policy up to a period of 30 years.
• In-built coverage for earthquake

Coverage:

SBI General’s Long Term Home Insurance policy is designed for covering loss or damage caused to the building used as residential homes due to fire and special perils. Covers destruction of loss / damage to the insured property by any of the following perils:

• Fire
• Lightning
• Explosion / implosion (excluding boilers, economizers, pressure vessels)
• Aircraft Damage
• Riot, Strike and Malicious Damage
• Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
• Impact Damage
• Subsidence and Landslide including Rockslide
• Bursting and / or overflowing of water tanks, apparatus and pipes
• Missile testing operations
• Leakage from Automatic sprinkler installations
• Bush Fire
• Earthquake (Fire and Shock)
• Further, on payment of additional premium, terrorism can be opted.
• Disclaimer: The above information is only indicative in nature. For details of the complete coverage please contact our nearest office and refer to the policy document.

• Duration: The recommended plan option is a minimum of 3 years as it will optimally protect your dream home against any eventualities. The maximum duration one can take is 30 years.
• The rate of premium shall depend upon the location and period of insurance policy.

Exclusion:

• We would like you to be familiar with some of the major exclusions under the policy. This will ensure you are not put into any kind of inconvenience while making your claim. At SBI General, we endeavor to make our policy as transparent as possible
• Major exclusions under the policy are in respect of loss or damage due to :
• Willful acts or gross negligence.
• Destruction / Damage by own fermentation, natural heating or spontaneous combustion
• Explosion / implosion damage to boilers, damage caused by centrifugal forces.
• Forest Fire
• War and nuclear group of perils
• Unspecified precious stones, cheques, currency, documents, etc unless specifically declared.
• Consequential losses.
• Theft during / after operation of peril.
• Pollution and contamination
• Volcanic eruption or other convulsions of nature
• Burning of property by Public Authority.
• Electrical and Mechanical Breakdown.