Building shall mean Flat or Apartment used for Resedential purpose owned by the Insured located in a multi storied Building and also Independent building used for residential purposes which is not of Kutcha Construction. The Building shall include the superstructure including doors , windows, electrical and plumbing works.It does not include any fixtures and fittings and other interiors.
Key Benefits
- Higher SI: No documentation required for a SI of up to Rs 5 crore.
- Lower Rates: Seperate lower rate for emerging affordable housing segment under Bronze Plan. ( 0.40 per mille rate for a SI up to Rs 15 lakhs)
- Discounts for long term policies: Option to opt for Escalation Benefit (10% of increase in Sum Insured each year) OR Tenure Discount (10% to 50%) for long term policies.
