Optional covers under a standard home insurance policy

A standard home insurance policy or Bharat Griha Raksha (BGR) offers the following optional covers:

(i) Cover for Valuable Contents on Agreed Value Basis (under Home Contents Cover):

 For Valuable Contents, a value may be agreed upon by You and Insurer based on a valuation certificate submitted by You and accepted by Insurer. However, the insurer may waive the requirement of a valuation certificate if the Sum Insured opted for is up to Rs. 5 Lacs and individual item value does not exceed Rs. 1 Lac. If the Valuable Contents of your Home are physically damaged by any Insured Event, insurer will pay the cost of repairing the items. If the Valuable Contents of your Home are a Total Loss, insurer will pay the Sum Insured shown in the Policy Schedule for the Valuable items. 

(ii) Personal Accident Cover

In the event an insured peril that caused damages to your Home Building and/or Home Contents also results in the unfortunate death of either You or Your Spouse, the insurer will pay a compensation of Rs. 5 lacs per person

In the event of the unfortunate death of the Insured, the Personal Accident cover shall continue for the Spouse until expiry of the Policy