What is Home insurance?

Home insurance provides against financial loss against damage of the structure and/or contents of your home caused by natural and man-made disasters.

How much cover should I have?

The amount of cover is dependant on the cost of construction of the house and the value of consumables.

Documents Required

Generally no documents are required at the time of purchase.
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Royal Sundaram Home Insurance

Learn about Home Insurance

Royal Sundaram Home Insurance Overview

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Royal Sundaram Home Insurance Royal Sundaram Home Insurance

When it comes to contents of your home, Royal Sundaram-s Homeshield Classic will give you complete peace of mind by covering the contents against a range of risks. We also cover building insurance.

  • Three levels of cover to choose from to suit your lifestyle.
  • You have the option of insuring your building against fire and allied perils.
  • You have an option of payment through credit card with automatic renewal facility
  • Assured Claims service: Claims will be settled within 10 days of receipt of documents.
  • They provide you 15 days to review your policy document. If you are not completely satisfied, simply return your policy for cancellation and Royal Sundaram will refund the entire premium paid provided no claim has been made.

Royal Sundaram Home Insurance FAQs

  1. What are the risks covered under Royal Sundaram Home Insurance?
    Royal Sundaram Home Insurance protects the building and contents of your home against natural and man-made calamities like fire, earthquakes, storms, cyclones, tempests, tornadoes, hurricanes, floods or inundation, lightning strike, explosion, landslides, impact by vehicles or aircraft, and bursting or overflowing of water tanks and pipes. It also covers the contents (jewelry also) of your home incase of Burglary.

  2. What are the optional covers available?
    The optional covers include Terrorism and Additional expenses of rent for alternative accommodation.

  3. What is Alternative Accommodation?
    Alternative Accommodation is an optional cover to the policy. If you are forced to shift to an alternative accommodation because your home is destroyed by an insured peril, then you will also be covered against the additional rent.

  4. Is the sum insured calculated differently for structure of home & it contents?
    Yes, the sum insured is calculated differently for the structure & for its contents, Sum Insured for the structure is calculated based on the Reconstruction value. Whereas the contents of your home such as furniture, durables, clothes, utensils, jewelry, etc. - are to be valued on market value basis i.e. the current market value of similar items after depreciation. Depreciation does not apply for jewelry.

  5. What is the Reconstruction value?
    Reconstruction value is defined as the cost incurred to reconstruct the home if it is damaged.

  6. What is the procedure to calculate sum insured for the structure of home?
    The Sum insured is calculated by multiplying the built up area of your home with the construction rate per sq. feet.

  7. Does Royal Sundaram Home Insurance cover any loss to my Jewelry?
    Yes, it covers loss to jewelry due to burglary or robbery but has a certain limit to it.

  8. I have a rented house, how can I buy Royal Sundaram Home Insurance?
    You have got an option to take a cover which guards the contents of your home against fire, other natural calamities, terrorism and burglary. It includes Household Appliances, furniture & fixtures, Jewelry etc

Royal Sundaram Home Insurance Benefits & Coverage

Royal Sundaram Home Insurance Benefits

  • Simple documentation & customer-friendly package.
  • Comprehensive package covering fire, earthquake, terrorism, storm,
  • Option to cover building against Fire & allied perils @ Rs.78.56/- per lac.
  • Covers household contents, appliances, jewelry & breakdown of appliances.
  • 3 levels of cover to choose from: Silver, Gold & Platinum.
  • Assured Claims service: Claims will be settled within 10 days of receipt of documents.
  • You have an option of payment through credit card with automatic renewal facility.
  • Option of Add-on covers for Computer, Air-conditioner, Air Cooler.
The policy does not cover:
  • Loss or damage due to war and allied perils, nuclear and pollution related perils
  • Depreciation, wear and tear and consequential loss of any kind
  • Scratching, Cracking, accidental breakage
  • Items more than 10 years old are excluded under Electrical & Mechanical breakdown cover.

Royal Sundaram Home Insurance Claim Process

Royal Sundaram Home Insurance Claim Process

  • Intimate Royal Sundaram's Call Centre regarding your claim with the policy details through toll free 1800 345 88 99 or Mobile: 944448899 or through email at customer.services@in.royalsun.com
  • Royal Sundaram will send a claim form to you immediately.
  • On receipt of the duly filled in claim form and the estimate Royal Sundaram will depute a Surveyor to assess the loss.
  • Surveyor will assess the loss and gives go ahead to the repair
  • Once the repair is over, surveyor will visit again and confirm the repair and submit his report to Royal Sundaram
  • The insured submits the bills / receipts to the Company.
  • Additional documents required, if any, will be called for.
  • Net Liability will be arrived based on the surveyor's recommendation and other deductible viz, depreciation, excess etc as per the policy condition Cheque will be despatched to you if the claim is admissible, otherwise a denial letter will be sent.

Home Insurance Articles

  • How critical is home insurance?
    Are we personally capable to financially withstand if our property were to be hit by a Tsunami like Japan. The Recent Japanese earthquake & Tsunami loss is estimated at $309 billion. The numbers would be mind boggling if we convert to Indian currency!
  • Things to look out for in a home insurance policy
    You should find out whether the coverage offered by the home insurance company is automatically adjusted as a protection against inflation otherwise he/she should review the policy. Also, you should ask for optional coverage if dwelling in areas frequently impacted by floods and/or earthquakes.
  • Benefit your dependents by availing home mortgage insurance!
    Home loans are a huge and a long term debt that exhausts the borrower of all the savings and finances he/shes has saved for all their employed years and to be. Most get their homes that is well and good but a few people may be deprived of it if they have not exercised prior precaution. In case of death or disability, have you ensured that it is the home and not the home loan that has been passed on to your dependents?
  • How loan insurance can help in the hour of need
    Loan protection insurance, or loan payment protection insurance, is a form of payment protection insurance. This type of insurance can help you protect your monthly loan payments if you become unemployed or suffer an accident or sickness. Loan protection insurance will typically be used to protect a home loan, car loan or even sometimes personal loans.

Home Insurance Forum

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