GRUH SURAKSHA HOME INSURANCE PLAN

Building Structure + Contents Dual Protection For Your
Dream Home.
Building Structure + Contents Dual Protection For Your Dream Home.

Gruh Suraksha Home Insurance Plan is a comprehensive package of insurance benefits designed to cover Building and Household articles like Contents, Appliances, Jewellery, Mobile equipment etc.

This plan offers 5 plan options (Bronze, Silver, Gold, Platinum, Diamond) in 2 different sections namely Building and Household articles. One can opt to cover their home building under the section I and Household articles under section II. Different Plans can be opted under Building and Household articles (for e.g. Building under Diamond and Household articles under Silver/Gold).

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Building

If you are staying in an independent house, then you can cover your compound wall and landscaping too. You can provide a separate sum insured for these in addition to the building sum insured.

You have the flexibility to choose a tenure of your choice, starting from 1 year to 20 years.

This product provides you a very useful escalation benefit, which ensures increase in your base sum insured of 10% each year, for the complete tenure of your policy. This will ensure that the available sum insured each year is constantly raising and keeping pace with the increase in construction cost due to inflation. This benefit is available only in a long term policy. This benefit is available to you at no extra cost.

If you do not avail the Escalation Benefit, you have the option to opt for a tenure discount, as per the table given below

*Tenure discount for building - all plans

TENURE DISCOUNT
1 Year Nil
2 Years 7%
3 Years 15%
4 Years 20%
5 Years 25%
7 Years 35%
8 Years 40%
9 Years 45%
10 Years and above 50%

*Tenure discount for building not allowed when escalation benefit opted

This product offers a very useful cover against loss or damage to the building due to a burglary. The coverage level will vary depending on the plan opted. This section pays for expense incurred for repairs so that future loss can be prevented. This includes installation of CCTV cameras and safety doors and will also include repairs to any structure including doors, windows and building.

Please refer Product Brochure for detailed Terms and condition

Household Articles

Jewellery means articles of personal adornment containing gemstones, silver, gold, platinum or other precious metals and Valuables shall mean Crystalware, Wristwatches above INR 10,000 in value, Silver articles and Gold in forms other than jewellery* like coins (*here limit per item will be applicable on the whole lot and not on each and every item).

Coverage under all plans:

Loss or damage of Jewellery and Valuables whilst contained in the Insured premises/ housed securely in a locker or Safety Deposit Vault located within the premises of any recognized commercial bank in India caused by or arising out of Fire & allied perils, Burglary and Housebreaking including theft and Snatching of Jewellery anywhere in the world whilst worn by the Insured person or family members, whether or not in the Insured Premises.

Covers legal liability to a third party under statutory liability provisions or in common law for an incident occurring in India which results in death, injury or damage to the health of such third party or damage to his/ her properties.

Mobile Equipments would mean Digital/Video Cameras, Binoculars. Mobile/Smart phones, Ipads, Ipods, Laptops, Palmtops and e-readers.

Coverage:

  • Fire & allied perils.
  • Burglary and Housebreaking excluding Theft.
  • Electrical & Mechanical Breakdown.
  • Accidental Damage.

Coverage is in respect of total loss or total damage to accompanied personal baggage by accident or theft whilst travelling on tour from home town exceeding 100 kms radius anywhere in India.

External Equipments would mean DG Set (upto 5 KVA), Solar water heater (Upto a Maximum of 500 litre capacity only) and Water treatment plant (Motor & Pump only).

Coverage:

  • Fire & Allied Perils.
  • Burglary and Housebreaking including Theft.
  • Electrical and Mechanical breakdown.

Coverage:

Covers actual cost incurred towards lodging expenses incurred as a temporary resettlement in an alternative accommodation for a maximum period of one week not exceeding the plan specified annual limits, in the event of loss or damage to the building insured under this policy due to operation of an insured peril as per terms and conditions of the policy and the building is not in a position to be occupied.

Covers death or disability arising out of and consequent (within 12 months) upon an injury sustained by insured person's household status. The maximum sum insured offered is INR 5 lacs.

The Company will pay for compensation and litigation expenses which Insured and/or his family members shall become legally liable to pay as a householder occupying the premises specified in the schedule on account of Death or Bodily Injury to insured's domestic staff arising out of and in the course of employment in the insured premises under Workmen Compensation Act 1923 or any amendment thereto, Fatal Accident Act, 1855 or Common Law.

Plan Option

Section I - Building

PLAN OPTION COVERAGE SUM INSURED PER ITEM LIMIT
Bronze Plan Building Up to INR 15 lacs NA
Rent for Alternate Accommodation (max 6 months) INR 10,000 per month NA
Loss of Rent (max 6 months) INR 5,000 per month NA
Silver Plan Building Above INR 15 lacs to INR 25 lacs NA
Rent for Alternate Accommodation (max 6 months) INR 25,000 per month NA
Loss of Rent (max 6 months) INR 15,000 per month NA
Gold Plan Building Above INR 25 lacs to INR 50 lacs NA
Rent for Alternate Accommodation (max 6 months) INR 25,000 per month NA
Loss of Rent (max 6 months) INR 15,000 per month NA
Platinum Plan Building Above INR 50 lacs NA
Rent for Alternate Accommodation (max 6 months) INR 50,000 per month NA
Loss of Rent (max 6 months) INR 25,000 per month NA
Diamond Plan Building Above INR 50 lacs NA
Rent for Alternate Accommodation (max 6 months) INR 50,000 per month NA
Loss of Rent (max 6 months) INR 25,000 per month NA

Section II - Household Articles

PLAN OPTION COVERAGE SUM INSURED PER ITEM LIMIT
Bronze Plan Contents INR 50,000 10%
Appliances INR 25,000 10%
Jewellery & valuables INR 50,000 20%
Third Party Liability - -
Mobile equipments - -
Baggage - -
External equipments - -
Temporary Resettlement (Max 1 week) INR 10,000 in all NA
Loss of Cash INR 5,000 in all NA
Personal Accident for employees Max up to INR 5 lacs per employee NA
Employees Compensation Actual Annual Wages NA
Silver Plan Contents INR 5 Lacs 10%
Appliances INR 5 Lacs 10%
Jewellery & valuables INR 5 Lacs 20%
Third Party Liability INR 5 Lacs NA
Mobile equipments INR 2 Lacs 10%
Baggage - -
External equipments - -
Temporary Resettlement (Max 1 week) INR 25,000 in all NA
Loss of Cash INR 15,000 in all NA
Personal Accident for employees Max up to INR 5 lacs per employee NA
Employees Compensation Actual Annual Wages NA
Gold Plan Contents INR 15 Lacs NA
Appliances INR 15 Lacs NA
Jewellery & valuables INR 15 Lacs NA
Third Party Liability INR 15 Lacs NA
Mobile equipments INR 5 Lacs NA
Baggage INR 5 Lacs 25%
External equipments INR 5 Lacs 25%
Temporary Resettlement (Max 1 week) INR 25,000 in all NA
Loss of Cash INR 15,000 in all NA
Personal Accident for employees Max up to INR 5 lacs per employee NA
Employees Compensation Actual Annual Wages NA
Platinum Plan Contents INR 25 Lacs NA
Appliances INR 25 Lacs NA
Jewellery & valuables INR 25 Lacs NA
Third Party Liability INR 25 Lacs NA
Mobile equipments INR 7.5 Lacs NA
Baggage INR 7.5 Lacs 25%
External equipments INR 7.5 Lacs 25%
Temporary Resettlement (Max 1 week) INR 50,000 in all NA
Loss of Cash INR 25,000 in all NA
Personal Accident for employees Max up to INR 5 lacs per employee NA
Employees Compensation Actual Annual Wages NA
Diamond Plan Contents INR 50 Lacs NA
Appliances INR 50 Lacs NA
Jewellery & valuables INR 50 Lacs NA
Third Party Liability INR 50 Lacs NA
Mobile equipments INR 10 Lacs NA
Baggage INR 10 Lacs 25%
External equipments INR 10 Lacs 25%
Temporary Resettlement (Max 1 week) INR 50,000 in all NA
Loss of Cash INR 25,000 in all NA
Personal Accident for employees Max up to INR 5 lacs per employee NA
Employees Compensation Actual Annual Wages NA

For Detailed Basic of Coverage details and Terms & Conditions, please refer the Product Brochure

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Disclaimers:

Insurance products are obligations only of the Insurance company. They are not bank deposits or obligations of or guaranteed by Citibank N.A, Citigroup Inc or any of its affiliates or subsidiaries or any Governmental agency. All claims under the policy will be solely decided upon by the Insurance Company. Citibank, Citigroup or any of their affiliates and group entities hold no warranty and do not make any representation about the insurance, the quality of claims processing and shall not be responsible for claims, recovery of claims, or for processing of or clearing of claims, in any manner whatsoever. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. Investment products are not available to US persons and may not be available in all jurisdictions.

The information provided on this website does not constitute the marketing of any products or services to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey and Jersey. The content on this website is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.

Participation by the bank's customers in an insurance product is purely on a voluntary basis.

*IRS Circular 230 Disclosure: Citigroup, Inc., its affiliates, and its employees are not in the business of providing tax or legal advice to any taxpayer outside of Citigroup, Inc. and its affiliates. This document is not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties. Tax benefits are subject to changes in the tax laws. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Citibank N.A. is a registered Corporate Agent of Tata AIA Life Insurance Company Limited, New India Assurance Company Limited, Royal Sundaram General Insurance Company Limited and Apollo Munich Health Insurance Company Limited under the composite license number CA0086 issued by IRDAI.

Life Insurance Policies: These policies are underwritten by Tata AIA Life Insurance Co. Limited (IRDAI Registration No. 110)
CIN: U66010MH2000PLC128403 with its registered office at 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg,
Lower Parel, Mumbai 400013.

All guaranteed benefits are payable only when all premiums are paid when due.

Investment risk in the investment portfolio is borne by the Policy Holder. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associate with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his or her decision. Tata AIA Life is only the name of the Insurance Company and the funds offered are only the names of the funds and does not in any way indicate the quality of the contract, its future prospects or returns.

Non-life Insurance Policies: Policies are underwritten by New India Assurance Company Limited (IRDAI Registration No. 190) CIN: U99999MH1919GOI000526 with its registered office at No.87, Mahatma Gandhi Road, Fort, Mumbai – 400 001, by Royal Sundaram General Insurance Company Limited (IRDAI Registration No. 102) CIN:U67200TN2000PLC045611 with its registered office at No. 21, Patullos Road, Chennai 600 002 or by Bajaj Allianz General Insurance Company Limited (IRDAI Registration No. 113) CIN: U66010PN2000PLC015329 with its registered office at Bajaj Allianz House, Airport Road, Yerawada, Pune 411 006.

Specialist Health Insurance Policies: Policies are underwritten by Apollo Munich Health Insurance Co. Limited (IRDAI Registration No. 131) CIN: U66030AP2006PLC051760 with its registered office at Apollo Hospitals Complex, Jubilee Hills, Hyderabad, Telangana 500 033 or by Aditya Birla Health Insurance Company Limited (IRDAI Registration No. 153) CIN: U66000MH2015PLC263677 with its registered office at 9th Floor, One Indiabulls Centre, Tower 1, Jupiter Mills Compound, S.B. Marg, Elphinstone Road, Mumbai 400 013.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding the sale.

For any queries with respect to your Insurance Policies bought through Citibank N.A., kindly contact 24 x 7 CitiPhone, The updated numbers are available on www.citibank.co.in

SECTION 41 OF THE INSURANCE ACT 1938 PROHIBITION OF REBATES
  1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an Insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the Insurer.
  2. Any person making default in complying with the provisions of this section shall be liable for penalty which may extend to
    ten lakh rupees.