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Tata AIG General Insurance Company Limited

Tata AIG General Insurance Company Ltd since its India operations in 2001 has been offering insurance schemes in diversified areas such as automobile, home, personal accident, travel, energy, marine, property and casualty, as well as several specialized financial lines. As the real estate sector in India shows an upward trend, Tata AIG has also come along with lucrative Home Insurance plans for its customers, which will help cover their home building or structure and its contents in eventualities of natural or man-made calamities.

The Tata AIG General Insurance's Home Insurance plan named HomeSecure policy comes with the basic coverage options including Fire, Pre-packed Coverage and Supreme.

Fire: This insurance policy covers against fire and some special perils for buildings (RCC construction) and household contents. Building value should be equal to present day cost of reconstruction, while contents should be insured for their market value. There is a condition set for claiming the insurance. In case the actual value of insured property at the time of loss under Fire Benefit is found to be greater than the sum insured opted by you, then the claim would stand to be reduced in the same proportion. The perils covered under this section include

  • Fire
  • Explosion or implosion
  • Aircraft Damage caused by aircraft
  • Damage/loss due to Riot, Strike
  • Damages due to Impact by rail / road vehicle or animal
  • Bursting/overflowing of water tanks, apparatus and pipes
  • Missile Testing operations
  • Leakage from Automatic Sprinkler Installations
  • Lightning and Bush Fire
  • Loss caused by Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
  • Destruction by subsidence of part of the site on which the property stands or landslide

There is provision of add on cover for Earthquake and Terrorism risks to be covered at extra premium. But the cover excludes loss arising out of

  • Damage in war and nuclear perils,
  • Loss, destruction or damage to bullion or unset precious stones, any curios or works of art for an amount exceeding Rs.10,000, manuscripts, plans, drawings, securities, obligations or documents of any kind, stamps, coins or paper money, cheques, books of accounts or other business books, computer systems, records, explosives unless otherwise expressly stated in the policy.

Pre-packed Coverage: They are the six pre-packaged covers included in Tata AIG's Home Secure plan to satisfy varying home insurance needs. It includes covers for

  • Burglary
  • Loss/damage of Domestic Appliance
  • Personal accident and Baggage loss
  • Public or third party liability
  • Plate glass, etc.

This policy excludes underinsurance of the property value, willful destruction of property, loss, damage or destruction caused by war perils, wear and tear and atmospheric conditions etc., damage due to an act of terrorism(unless specifically covered) and losses or damages incurred when premises are unoccupied beyond 60 consecutive days.

Supreme: Supreme is Tata AIG's flexible home insurance product that allows you customization of coverages in the table below, to design a product that best matches your home insurance needs.


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