IFFCO Tokio Home Insurance Plan 2024 Benefits, Features, Buy & Renew Details, Reviews

Why one should avail Home Insurance Plan?

One of life’s major milestones is owning a home. To build the house of your dreams, you need a lot of time and money. Anyone’s greatest asset is their home. A lifetime’s worth of money can be invested in your home. As a result, protecting your home is of the utmost importance. Protecting your home from unavoidable natural or man-made disasters is crucial. Repairing your house after a disaster costs a lot of money; Even you can become homeless in some situations, like a fire or earthquake.

As a result, home insurance is a plan to protect your home and its contents from unforeseen events. Losses to your home, its contents, or the owner’s other personal belongings may be covered by this policy. In addition, it covers the owner’s legal responsibility for any accidents that may occur on the policy territory.

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IFFCO Tokio Home Insurance Policy

The comprehensive home insurance policy from IFFCO Tokio covers a wide range of dangers and risks. Your home, its contents, assets, liability, interest, and their family are all covered by this policy.

Two types of Home Insurance Plans are provided by IFFCO Tokio:

• All in One Home Protector Policy
• Home Suvidha Policy

All in One Home Protector Policy:-

This policy recognizes your importance to your family and home. Your home is an investment of your time, money, love, and care. While you can’t protect your home from every possible threat, you can mitigate these threats by providing total protection coverage. The All in One Home Protector Policy from IFFCO Tokio is a comprehensive plan to safeguard against a variety of uncertainties. It is a package deal that covers your home, all of its assets, liabilities, and interests, including those of yourself and your family.

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What is the insured IFFCO Tokio Home Insurance Plan?

If you select multiple cover options from IFFCO Tokio’s various policy sections, you can save money on premiums. You are required to select at least three of the plan’s 12 sections, each of which covers a variety of properties. The properties that are included in this plan are as follows:

• Household Appliances
• Television/VCR/DVD Player
• Computer, mobile phones
• Glass fittings
• Jewelry and other valuable stuff
• Furniture
• Building
• Other household article
• Pedal Cycle

Benefits and Features of IFFCO TOKIO Home Insurance

• Premium is reasonably priced and pocket friendly.
• Rebates/discounts on the premium are available.
• Your home and its contents, including art, electronics, and other valuables, are safeguarded by this plan.
• This plan also has an option to provide personal accident cover.
• This plan also has an option to provide public liability cover.
• This plan also provides baggage insurance (optional)
• Covers breakdown of Domestic appliances.

What is covered IFFCO Tokio Home Insurance Plan?

IFFCO Tokio Home Insurance Plan is an insurance policy that covers your home and belongings against theft, fire, and other accidents. It also covers damage caused by you or any of your guests. The policy offers a range of features, such as 24/7 emergency assistance, damage assessment, and personal accident cover. If you’re looking for a comprehensive home insurance policy that offers a lot of value for your money, then IFFCO Tokio Home Insurance Plan may be the right option for you.

The coverage of this plan is divided into 12 different sections of which a policyholder has to select at least three:

Fire & Allied Perils: –

Your building and its various contents are protected from fire, bursting, explosion, overflowing water tanks, strikes, malicious damage, riots, earthquake, cyclone, flood, landslide, and other hazards, as stated in Section 1. The cost of meeting the terms of building regulations after damage is also covered in this section.
if the contents were relocated to another location for use as a temporary residence.
There will be an automatic, no-cost increase in the amount of the sum assured for 15 days prior to and after the wedding of any member of your family.

This section also covers the below-mentioned features with some extra premium-

• It covers the costs of the surveyor, architect, and engineers during the restoration process following damage.
  cost to remove debris.
• Throughout the year, the sum assured amount will rise to protect against inflation.
• Added costs associated with rent, whether you are a tenant or a landlord, and compensation for landlords who lose rent.

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Burglary and other Perils: –

In accordance with this section, your building and its various contents are protected against housebreaking, robbery, burglary, or dacoity. It also covers damage caused by collision with falling trees, lamp posts, electric poles, television or radio aerials or satellite dishes that break or collapse, and damage caused by municipal authorities trying to prevent a fire.

All Risk: –

This section covers valuable items like jewelry, gold, silver, and other precious metals or stones, as well as clocks, watches, video cameras, photographic instruments, microscopes, telescopes, cameras, musical instruments, and sports equipment—including guns—in the event of an accident or disaster anywhere in India.

Fixed Glass and Sanitary Fittings: –

Fixed plate glass and sanitary fittings in the proposer’s home or premises are protected from accidental breakage by this section. It also includes lettering or painting, frames, and frameworks.

Electronic Equipment: –

This section covers home-installed electronic devices like a computer, fax machine, data storage device, and accessories.

Home Entertainment Equipment, portable computers, and mobile phones, and Pedal Cycle: –

This section covers the protection of all home entertainment equipment against accidental or unanticipated damage anywhere in the world, including portable computers, mobile phones, and data storage media.

This section covers damage or loss to pedal cycles as a result of external accidents or misfortunes, such as third-party bodily/personal injury or property damage caused by the pedal cycle.

Break down of Domestic Appliances: –

This section covers all mechanical and electrical breakdowns of mechanical or electronic appliances like refrigerators, air conditioners, and washing machines for children up to the age of seven, including protection against accidental or unanticipated damage.

Personal Accidents: –

This section covers the insured’s physical damage or death as a result of an accident, violence, or other external and obvious means that the policy specifies. This section also talks about additional benefits like the cost of an ambulance, money for education, the cost of transporting a dead body, damage to clothing, the insured person’s rehabilitation to get over the shock of their injury, and the cost of changing or fixing their house or car after an accident.

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Loan Payment Protection: –

In the event that the insured person becomes totally unable to work as a result of illness or an accident, this section ensures that you will be able to make the monthly payments on a loan against your home, vehicle, or other consumer goods for a maximum of one year.

Liability Insurance: –

The insured’s legal responsibility for a third party’s physical injury, loss, or damage to their property is covered in this section. The insured’s Workmen’s Compensation obligation to a domestic servant working in the insured person’s premises is also covered in this section. In addition, under the terms of the tenancy agreement, this policy covers your liability to your landlord for damage to the building or electrical fittings or installation caused by covered perils. section 1 and section 2 respectively

Increased Living Expenses: –

This section covers the cost of moving you, your family, and domestic help, the cost of emergency medical treatment up to a certain limit, the cost of hiring furniture, the cost of moving house contents, and the cost of staying in a guest house or hotel after your home is damaged.

Important Clause: –

• There must be coverage of at least three sections.
• You will receive a premium discount if you select at least six sections.
• The insurance for Sections 1, 2, 3, 4, 5, 6, and 7 is based on replacement value up to a maximum Sum Assured.
• Clothes and linen do not fall under sections 1 and 2.
• Except for a few sublimit for specific items, there are no maximum limits for sum assured in any section.

Exclusion under IFFCO Tokio Home Family Protector Policy:

• Damage, destruction, or loss brought on by war, a foreign adversary’s action, hostilities, an invasion, or similar military operations
  any terrorism-related harm to property, destruction of it, or loss of it
•  ionizing radiation, contamination by radioactivity from nuclear fuel, or waste from the combustion of nuclear fuel are all types of damage, deconstruction, or loss that are covered by insurance.
• The explosive nuclear assembly or any component there of’s radioactive toxins or any other potentially hazardous properties.
• loss or damage brought on by the item’s depreciation, wear and tear, or downgrading.

IFFCO Tokio Home Suvidha Policy:

It’s a comprehensive plan to safeguard your family from a wide range of threats. There are a variety of categories for the Sum Assured; Depending on the level of risk, any category can be chosen.

Coverage under the Policy:

• Fire and Allied Perils (Contents)- Contents of the building are covered against fire, bursting, explosion, overflowing of water tanks, strikes, malicious damage, riots, earthquake, cyclone, flood, landslide, etc.
• Burglary and other perils (Contents)- Different contents of a building is covered against housebreaking, robbery, burglary, or dacoity.
• Television and Video Equipment
• Personal Accident
• Fire and Allied Perils-Building

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 Exclusion under IFFCO Tokio Home Suvidha Policy:

• WAR Chance Harm, deconstruction, or misfortune brought about by war, the demonstration of an unfamiliar foe, threats, intrusion, or warlike tasks.
• Illegal intimidation Harm, deconstruction, or misfortune to property brought about by any demonstration of psychological oppression.
• Atomic Gamble Harm, deconstruction, or misfortune to property is protected by – I) ionizing radiation or tainting by radioactivity from atomic fuel or wastage from the burning of atomic fuel. ii) The radioactive poisons or some other risky properties of touchy atomic get together or part thereof.
• Assuming the harm caused to the property is guaranteed by its aging, hasty burning, or normal warming.
• Mileage Misfortune or harm causes by mean of minimizing of the article or mileage or devaluation.
• Seizure Long-lasting or impermanent dispossession of property coming about because of avoidance, securing, demand, or deconstruction by request of any legitimate or government authority.
• Long-lasting or impermanent dispossession of property coming about because of unlawful action by the individual.
• Noteworthy Misfortunes Any roundabout misfortunes or harm like loss of profit, misfortune by delay, loss of market.
• In regard of PC 5% of the case sum subject to at least Rs. 2500/ – .
• Because of deformities or flaws in the beginning of protection which is known to you or your loved ones.
• For assembling surrenders
• Harm to leased or employed gear for which the proprietor is dependable.
• The expense brought about in the development of hardware outside the arrangement domain with the exception of the expense of conveyance of the harmed part.
• Harm to consumable things like bulbs, tubes, strips, wires, belts, wires, chains, and so forth.
• Harm while destroying, fix, or change by an unapproved agent

Important Clause:

• Breaking point of Risk The most extreme restriction of obligation for any harm is restricted to the aggregate protected determined in the timetable.
• Premise of Guarantee Settlement-For harm of safeguarded gear fundamental costs will be reimbursed which is expected to reestablish the item in the past structure or will
• pay the market worth of the equivalent in the event that the maintenance cost surpasses substitution cost.
  Fix Premise
• No derivation of devaluation for supplanted parts aside from items with restricted life.
• The expense of temporary fix will be borne by the organization assuming it is essential for the last fix.
• Repayment will be finished after entries of appropriate bills and records.
• Worth of rescue to be considered in the event of substitution.

Special Condition:

In the event that any harmed thing will be kept in activity without being fixed to the organization’s fulfillment or brief fixes are completed without the organization’s assent, then the organizations’ risk under any segment of the strategy for this harmed thing will be stopped.