• What is Householder’s Package
Policy ?
Householder’s Package Policy is a packaged policy which offers
almost all covers that are required for a common householder.
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•
How many Section/Covers are available
under this policy ?
There are Ten Sections under Householder’s Package Policy :
Section –
I : Fire & Allied Perils
a) Against House Building.
b) Against household contents.
Section – II : Burglary & Housebreaking including larceny
or theft (Contents only)
Section-III : All Risk against valuable items.
Section-IV : Plate Glass Cover ( fixed )
Section-V : Breakdown of domestic appliance.
Section –VI : Television Sets (All Risk ) cover
Section-VII : Pedal Cycle (All Risks) cover.
Section –VIII : Baggage
Section-IX : Personal Accident
Section-X : Public Liability & Workman Compensation Risks.
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•
Are all the sections are compulsory under
the Policy ?
No. Only Section I-B (Fire & Allied Perils) cover against household
contents is compulsory. In addition to this the insured has to opt any
two more section from remaining Nine Sections.
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•
What should be basis of valuation for
getting household items covered under householder’s policy ?
Insured has to get his household contents as per their market value
and Electrical Item on replacement value.
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•
Is selection of household items coverage
is allowed ?
NO. Selection of household item cover under basic cover Fire & allied
perils and Burglary is not allowed, same shall be applicable to the
machinery breakdown section.
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•
Is there any discount for opting more
than minimum required ( 3 sections ) covers ?
Yes, insured is entitled to 15% discount for opting more than four section
and 20% discount on premium for opting more than six section respectively,
excluding Tariff Sections premium i.e. Fire & Allied Perils Section
and Public Liability & Workman Compensation Risks Section, but for
Section discount all Sections (Tariff & Non-Tariff sections) will
be counted.
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•
How the household articles and valuable
would be identified in the list ?
Yes,the insured must furnish entire list of items proposed for cover.
A single amount for contents can be mentioned if the value of single
item does not exceeds 5% of the amount of insurance value of contents.
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• Is it compulsory to get Jewellery
& Valuable item covered against all risk only ?
No, the Jewellery & Valuable items can be covered against Fire &
allied Perils and Burglary Section, also.
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•
What is the term of insurance cover under
this policy ?
The policy is normally issued for a period of twelve months only.
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•
What is the territorial limit under this
policy ?
Cover is available within India only, except for Personal Accident &
Baggage Section.
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•
What are Sections under which insured
has option to go for restricted cover or All Risk (wider cover) ?
Insured has the option to get insurance cover of Jewellery/Valuable,
T.V Set, Pedal Cycle against Fire & Allied Perils and Burglary in
addition to All Risks covers (wider cover).
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•
Can all Electrical Items be covered under
T.V. All Risks Section ?
No. T. V All risks section cover Television Sets Only. All Electrical
items including T.V set can be covered under Machinery Breakdown Section.
These items has also to be covered against Fie & Allied Perils and
Burglary.
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