Oriental’s House Holder Insurance Policy

1. Why do I need a Householder Insurance Policy?

Home is an environment offering affection and security. To ensure complete security & protection against accidental damages Householder policy provides cover both to building and its contents.

Now you can buy and renew policies Online. Buy a new House Insurance policy, Renew an existing Oriental Insurance Householder’s policy or renew policies bought from any other general insurance company by registering yourself on our Portal and paying online through your debit card / credit card or Net-banking. To check out various online facilities available, you may login on the Portal.

2. What does the Householder Insurance Policy cover?

Householder Insurance Policy offers comprehensive protection for your home (residential building) and its contents against a variety of risks. This is a composite policy spilt into ten sections covering number of contingencies. Minimum of three sections are necessarily to be taken, out of which Section IB relating to coverage of contents against Fire and allied perils is compulsory. Section-wise coverage is as follows

SectionsType of InsuranceWhat is coveredWhat is not coveredPremium Rate (per thousand)
IFireLoss to the residential building, household goods & personal effects – as per Fire Policy + Earthquake Risk.Loss to money, securities, livestock, motor vehicle, documents0.30
IIA & II BHouse- BreakingA. Housebreaking including Larceny and Theft B.Housebreaking excluding Larceny and TheftExtensionfor temporary removal of contents. Up to 120 days- cover available for 10% of sum insured onlyLoss to money, securities, livestock, motor vehicle, documents1.00 0.35
IIIAll RisksLoss or damage to Jewellery, Valuables etc. due to accident or misfortuneTheft from car (saloon) except when stolen while properly locked. Loss caused by moth, mildew etc.8.00
IVPlate GlassAccidental breakage of fixed plate glassScratches on the glass8.00
VDomestic Appliances Including TV SetDamage to electrical appliances (refrigerator, mixer etc.) due to electrical or mechanical breakdown.Sum insured should be its new replacement valueLoss due to faults existing before insurance or for which the supplier or manufacturer is responsible2.00
VIPersonal Computer & Lap TopAll risks subject to specified exclusions.Loss due to wear & tear faults defects existing at commencement of the policy, for which the manufacturer is responsible8.00
VIIPedal CycleLoss by Fire & allied perils Housebreaking / Theft, Accidental external meansLoss by mechanical breakdown10.00
VIIIBaggageLoss to accompanied baggage by accident or misfortuneLoss of cash, jewellery loss within the municipal limits5.00
IXPersonal AccidentDeath or bodily injury by accidental, external violent, visible means including Medical Expenses resulting from accident & weekly compensation during hospitalization in Hospital only.Suicide or attempted suicide, self -injury, death or injury resulting from the Insured committing any breach of law with criminal intent.0.60+20% Medical Expenses (Table II).
X APublic LiabilityLegal liability of the Insured to the public for bodily injury or accidental death – Rs.25, 000/-Liability to family members & employees0.40
XBWCAs per WC ActLiability to public & family members8.00

Note:Risk of Terrorism can be covered at extra premium @0.10%o with an excess of 0.50% of sum insured.


1.Fire & Allied Perils (Sec. I)For Act of God Perils – 5% of claim amount subject to minimum of Rs. 10,000/-for each and every claim.For Rest of the Perils – Rs 10,000/- for each and every claim.
2.All risks (Sec III)Rs. 2,500/- for each and every claim.
3.Breakdown (Domestic Appliances), Personal Computer & Baggage (Section V, VI & VIII)Rs. 1,000/- for each and every claim.
4.Bicycle (Sec. VII)Rs. 250/- for each and every claim.

3. Salient Features of the Home Insurance Policy

  1. The Householder Insurance Policy may be taken for any dwelling of Pucca construction.
  2. 15% (fifteen percent) of the sum insured is waived for the purpose of under insurance for section I.
  3. All items having value of more than 5% (five percent) of the total sum insured under Section I B should be separately specified along with their values.
  4. Under the All Risks Section (Section III) any article valued at more than 10% (ten percent) of the sum insured has to be separately specified along with its value.
  5. Jewellery and valuables kept in the bank locker may also be covered on first loss basis.
  6. For taking coverage under more than four (4) sections 15% discount is allowed. For more than six (6) sections 20% discount is allowed.
  7. Long term policy for upto 4 (four) years at discounted rate is also available.
  8. There is no upper limit for sum insured either on building or contents.
  9. The policy carries varying excess applicable to different sections.
  10. Art-work, show pieces may be covered provided these are valued by Government approved valuers and their report is submitted.
  11. Terrorism risk may also be covered at additional premium at the option of Insured and sole acceptance of company.
  12. Housing societies having their own security arrangement can be given discount of upto 20% (Twenty Percent) for Section II. Housing societies can also be given Volume Discount.
  13. The discounts may be granted in such a manner that the minimum net premium after allowing all discounts should not be less than 50% of gross total premium under the policy
  14. The premium will be loaded by 10% / 25% depending on whether one policy period / two policy periods have been affected by claims.

4. How do I select the sum insured?

For building, the sum insured must cover the full cost of rebuilding the property including architect fee etc and the cost of clearing away the debris and cost of obtaining sanctions for any new building regulations or by-laws.

For contents, the sum insured should be the replacement value except for Section III (All Risks) where it should be market value but for Jewellery it will be market value less 10% (making charges) or purchase cost.
For the remaining sections the sum insured is as opted by the proposer.

5. General Exclusions

This policy does not cover loss or damage to Home & its contents;

1. Caused by war and allied perils
2. Nuclear radiation and related causes.

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