Reliance General Home Insurance

Reliance General boasts of a robust customer base and a broad network of 139 offices and almost 12,000 intermediaries across the country. For enhancing customer experience, Reliance General Insurance also offers tele-calling and online assistance. The company gives insurance solutions for motor, travel, home, health sectors.

The right balance between financial investment and emotional involvement is necessary to build your dream home. Since your dream home is considered to be one of the most valuable assets, it requires the best protection and care from different types of dangers, threats and unprecedented events. Selecting a comprehensive home insurance policy is crucial. 'Reliance Householder Package Policy' provides complete protection to your home and family.

Features and Benefits of Reliance Home Insurance

• The policy gives protection against natural and human-made calamities to your house

• This home insurance policy also offers coverage to the structure and contents of your house

• Customers who own a house, as well as people who are tenants, can avail a home insurance policy

• Minimal paperwork

• Smooth and easy documentation

• Claim settlement is fast and follows a straightforward procedure

• Reliance Home Insurance offers freedom of choice to its customers. Flexibility is offered in terms of:

  • Selecting the items to be covered

  • Selecting the coverage amount

  • Choosing the reinstatement value of an item

  • The policies can be purchased and renewed online

What is Covered Under This Policy?

Reliance Home Insurance was designed to suit the diverse needs of its customer base. Primarily, four comprehensive categories were crafted by the company for providing comprehensive coverage to its customers.
Personal Accident Coverage
This cover empowers the policyholders for receiving financial compensation if there's a permanent total disability or accidental death due to an accident. This covers the primary policyholder and his/her family members aged between 5-70 years.
The structure of the package offered to the policyholder and his/her family is described below:
For a non-earning spouse, the sum insured is half of the annual income of the policyholder or Rs. 1 lakh (whichever is less)
Maximum Sum Insured for the policyholder and his/her spouse, if both are earning, will be the Sum Insured selected under ‘Fire and Allied Perils – Other Content’ for every customer.
Children between 5-25 years old are entitled to acquire a Sum Insured of 25% of the income of the earning member of the family or Rs. 50,000 (whichever is lesser)
Fire and Allied Perils
The maximum Sum Insured for the structure of your house is 25 lakhs. You must remember the points described below to estimate the sum insured.
The ‘built-up area’ of your house should be multiplied with the present construction cost per square foot.
Cost of land should be excluded from the estimation
The compound wall constructed must be included in the estimation as well.
The company offers coverage for household goods, utensils, furniture, clothes etc against the following types of damages:

• Fire
• Lightning
• Explosion / Implosion
• Riots, strike
• Subsidence
• Landslide
• Flood
• Earthquake

To cover precious jewelry and other valuable items in case of damage or loss due to an accident, you will be required to get add-on protection.
If any loss/damage is caused to your home due to fire, terrorism or any natural calamities, the home insurance protects you and your family against such accidents.
Mechanical and Electrical Appliances
This cover offers protection to mechanical and electrical appliances (maximum 10 years old) against a short-circuit or mechanical breakdown.
The policyholder can select one of the following items to be covered:
Domestic Electrical and Mechanical appliances

• Air Conditioner
• Refrigerator
• Microwave
• Vacuum Cleaner
• Washing Machine

Domestic Electronic Appliances

• Music System
• DVD player
• Computer (doesn't include laptops)

Some policyholders own more than one TV in their house. In such cases, the sum insured is estimated based on their aggregate value.
Policyholders are given the freedom to choose coverage for a range of electronic items such as computers, music system and other domestic electrical appliances. The policy can cover the chosen appliances against fire, burglary, and other perils. You must note that any type of cell phones, iPods/iPads, laptops aren't covered under this policy.
Cover for a single or multiple television systems in the house
If you have more than one television system in your house, you can estimate the sum insured based on their aggregate value. The following systems are covered under this policy:

• Plasma televisions
• LCDs
• LEDs

Burglary and Housebreaking
Compensation of up to 2 lakhs if the insured items of your house due to theft, housebreaking and larceny burglary.
The policy gives coverage against any loss/damage to jewelry or other valuable items due to theft, burglary, housebreaking or larceny.
Reliance Home Insurance Policy Exclusions
Loss of cash and some properties aren't covered under Reliance Home Insurance policy if they are damaged under the following circumstances:

• Damage caused due to war
• Destruction of property
• Damage to property due to depreciation
• Damages caused due to contamination, pollution, spoilage, volcanic eruptions, etc

If your home remained unoccupied for more than a month, without informing the insurance company.

Reliance General Insurance Claim Procedure

The claim settlement procedure is straightforward provided all the paperwork is streamlined. After the claim has been registered, the policyholder should initiate the claim by contacting customer care. After 2 business days, Reliance General Insurance will deploy an official surveyor for estimating the value of damage/loss. This surveyor gives a final assessment report and essential documents to the company after conducting a meticulous examination of the damaged property.
After the examination is complete, the company will be taking the necessary steps to settle the claim.

Frequently Asked Questions (FAQs)

Can a tenant buy Home Insurance from Reliance General Insurance?
Yes. Reliance Home Insurance offers a home insurance policy for rented houses, but you must remember that the policy will provide coverage to the items inside the house which belong to the tenants. Since the tenants aren't the legal owners of the house, the policy doesn't provide coverage to the building structure.
What are the effects of selling my house/property within the insured policy tenure?
In such cases, your insurable interest will be eliminated. The buyer of the house must take a fresh home insurance policy. The new owner can either choose to buy the policy from Reliance General Insurance or a different company.
I have Home Insurance policy with Reliance General Insurance, do I need a nominee for having a home insurance policy?
Yes. It is ideal to have a nominee for the home insurance policy. If you opt for the Personal Accident cover, it allows you and your family members to be covered under a single policy. If you have a nominee under a home insurance policy, he/she will be the beneficiary if the primary policyholder suffers sudden death or physical disability.
What is reinstatement value and how is it estimated?
Reinstatement value is the cost involved in replacing (or reinstating) the property. It can be estimated by listing all the expenses incurred while replacing the damaged property for attaining its previous condition.
Does reliance home insurance enable me to take coverage for contents inside my house?
No, you cannot take partial insurance for the contents of the house. While settling the claim, if the value of the insured property is less than the original reinstatement value, then the claim will be reduced in similar proportions.