IFFCO-Tokio, a leading general insurer, has launched a new home insurance product called “Comprehensive Home Protector”. This policy is designed to cover the risk of loss or damage to physical assets, interests, and liabilities of the insured and their family, leaving no insurance gap. The policy is guided by the Insurance Regulatory and Development Authority of India (IRDAI) and offers de-bundled fire coverage, allowing policyholders to choose “Basic Fire Cover” and opt for additional coverage for natural and human-made disasters.
The policy also covers personal money and important documents lost outside the insured’s home, and provides for the cost of reproducing lost or damaged documents and items. Additionally, it covers damages to contents when changing homes from one geographic location to another, including damages due to fire, lightning, and robbery.
Other standout features of the policy include coverage for loss of jewelry and valuable items, damages to fine arts, and breakdown of domestic appliances. The policy also provides loan payment protection in case of death or disablement, and personal liability insurance. Furthermore, it takes care of tenant’s liability towards home owners against damages to buildings and contents.
To celebrate the launch, IFFCO-Tokio is offering a 10% early bird discount on policy premiums to those who buy the policy directly from the company. According to Ms. Niharika Singh, Executive Director of Marketing at IFFCO-Tokio, the launch of Comprehensive Home Protector marks a significant milestone in the company’s journey. The policy is designed to provide peace of mind to policyholders by covering a wide range of risks associated with home ownership.
IFFCO-Tokio General Insurance Company Limited is a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Tokio Marine Group, one of the world’s largest insurance companies. The company offers a range of retail and corporate insurance products through its wide distribution network, including motor, health, travel, and personal accident insurance. With the launch of Comprehensive Home Protector, IFFCO-Tokio aims to provide comprehensive protection to home owners and tenants, and promote peace of mind among its policyholders.