Home Insurance Claims Procedure

Basis of Claim Settlement

• Sum Insured or Market Value whichever is less.

• Not more than 20% of the total value of contents in respect of a single item.
• Rateable proportion of loss in case of underinsurance (permitted upto 15%, only for the package policies, not for stand alone Fire policies).
• Contribution clause to operate in case of double insurance.

Other Features

• Claims to be notified immediately by any means followed by written intimation within a week.
• For Burglary/Theft / Jewellery / Baggage/ Cash in transit claims F.I.R. is a must.
• For Fire benefit auto reinstatement of sum insured will be there unless otherwise opted immediately after occurrence of loss.
• Cancellation notice on either side would be 15 days.
• No refund on cancellation in case there is a claim under the policy.
• Though the pre-underwritten packages give a fixed sum insured, there will be an option to increase the sum insured in case of Fire:Building cover only.