Bajaj Allianz General Insurance restructures home insurance product

Adding new and unique features to cater to the needs of the customers, Bajaj Allianz General Insurance has revamped its home insurance product. The revised ‘My Home – All Risk policy’ will enable customers an option to purchase a policy for a period of 1 day to a long term period of up to five years, making it available on the basis of annual contract. The product extension was also done in terms of the coverage to organizations or firms who are owners of the property, used for residential purposes by invitees, employees and partners. However, in case of theft and burglary, the company will pay the claim even if the property remains unoccupied; earlier which was an exclusion under the policy. Personal medical devices such as sugar testing machines, blood pressure machines, fitness trackers, hearing aids, etc. will be covered along with spectacles and items like drapery, bags, etc. while extending the definition of coverage of personal items under the contents of ‘My Home – All Risk policy’. Customers now also have the choice to insure jewellery and valuables on full sum insured basis as well as loss limit basis. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “At Bajaj Allianz General Insurance, our aim is to help our customers stay worry-free by offering them holistic insurance solutions that safeguard their hard earned assets. We care about the feedback received from our customers and attractive revisions in our ‘My Home all risk policy’ is a result of it, which makes our product even more relevant to the customers of today. We are confident that with these range of features, customers can truly be at ease knowing that their worries are well taken care of.” However, rent for alternate accommodation including brokerage payable towards such accommodation and additional benefit for emergency purchases under the revised policy will be provided by Bajaj Allianz General Insurance, if the building becomes uninhabitable due to a loss covered under the policy. It has also set age limits for which various types of contents will be covered and new competitive rates have been introduced considering the changes made.