IFFCO Tokio Unveils Inclusive Home Insurance Covering Owners and Renters

On May 7, IFFCO-Tokio, a leading general insurer, announced the debut of "Comprehensive Home Protector", a home insurance product that eliminates any insurance gaps.

The product covers the risk of loss or damage to the insured's and their family's tangible assets, interests, and liabilities. The insurance product is designed in accordance with the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI). It includes de-bundled fire coverage, and the insured can select "Basic Fire Cover" in addition to choosing additional coverage for other natural and man-made disasters.

It covers sections, such as earthquakes, storms, cyclones, typhoons, tempests, hurricanes, tornadoes, tsunamis, floods, inundation, lightning, landslides, acts of terrorism, riots, strikes, malicious damage, bush fires, forest fires, damage caused by the actions of civic authorities, etc.

Other Benefits Offered by the Company

Additionally, personal money, critical documents, and cards lost outside of the insured's house under specific circumstances are covered by this policy. In addition to covering the cost of replacing lost or damaged documents and items, such as share and stock certificates, deposit receipts, insurance policies, title deeds, manuscripts, passports, driver's licenses, credit cards, and personal records and certificates, the policy also covers the cost of returning lost money.

 Coverage for belongings damage when moving residences from one area to another is one of the most important features of IFFCO Tokio's home insurance policy. Damages from fire, lightning, bridge collapse, carrying vehicle overturning, derailment or accident, robbery, and dacoity are all included in this feature.

Some of the policy's most notable features include loss of jewellery and other valuables, damage to fine art, fixed glass, and sanitary fittings; breakdown of household appliances, portable electronics, and bicycles; accidental death or disability of the insured; protection from loan payments in the event of death or disability; and personal liability insurance.

Taking Care of Tenant’s Liability

Tenant liability to the homeowner for damage to the structure, the contents provided by the owner or landlord, electrical installations, underground and above-ground tanks, fixed glass/sanitary fittings, and other fixtures, fittings and interior decorations is also covered by the policy.

Those who purchase the policy directly from IFFCO Tokio will receive a flat 10% early bird discount on the policy premium as part of the company's launch extravaganza.

Niharika Singh, Executive Director, Marketing, IFFCO Tokio General Insurance, commented on the exciting product's debut, saying that Comprehensive Home Protector's introduction is a major turning point in IFFCO-Tokio's history. There are as many risks associated with the brand as one could encounter at home or when moving.

 Additionally, the business has built it such that the consumer can select the risks and only pay the premium for those risks that are likely to be revealed. By offering this coverage, the company hopes to ensure that the policyholder purchases peace of mind in addition to the policy.