Bajaj Allianz launches Easy Householders Packaged Policy

• Available as a kit with option to choose from 3 plans
• Affordable premium starting from Rs. 650
• Hassle-free documentation and easy claim settlement

Bajaj Allianz General Insurance, one of the leading private general insurance companies in India has launched Easy Householder’s Package Policy – a comprehensive and simplified home insurance policy. The highlight of the product is the ease of buying this product in four simple steps. Available in a kit form, the policy can be bought by - selecting the desired cover; fill the proposal form; pay the premium by modes like cash, cheque, DD or credit card; and SMS the kit number to activate the kit.

The Easy Householders Package Policy covers your home and assets from fire and allied perils, burglary and theft, breakdown of domestic appliances, electronic equipments and baggage. The plan offers 3 options viz. Rs. 650, Rs. 1030 and Rs. 1910 being the premium amount. These low premium amounts make it affordable to a large section of the society comprising of young working couples, nuclear families, house owners tied up in housing loans, aged people for whom their home is the only asset as well as tenants in a rented accommodation to cover their assets.

Launching the product, Tapan Singhel, Chief Marketing Officer, Bajaj Allianz General Insurance, said, “Currently home insurance is considered a complex and difficult product to purchase due to the extensive documentations and declarations required in the sales process. As the name suggests, Easy Householders Package Policy provides a simple way to secure your home with hassle-free documentation at affordable prices. You do not need to provide any declarations of the assets being covered; just pick and tick the plan that suits your needs. ”

Another key feature of the policy is waiver of under insurance. This means that if the assets have been insured for a sum insured less than their value, in case of a claim, the entire sum insured will be payable and no under-insurance charges will be deducted, as in a regular home insurance. The policy also covers contents of the house in case of a fire, allied perils and burglary section that have been temporary removed.

Key Features of Easy Householder’s Package Policy

• Available as over-the-counter (OTC) kit
• Instant activation through SMS or call center
• Convenience to choose from 3 plans
• Combination of requisite covers
• No under-insurance applicable
• Benefit of temporary removal of contents
• Easy Claim settlement process

About Bajaj Allianz
Bajaj Allianz is one of the leading Private Sector life & general insurance companies in India. Bajaj Allianz is a union between Allianz SE, the world’s leading insurer and Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited, one of India’s most respected names). Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (over Rs. 55, 00,000 crores). At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering you customized products with transparent benefits supported by the best technology is our business philosophy. Bajaj Allianz began its operations in 2001 and today has a pan-India presence with over with offices and presence in over 1100+ towns in the country. The companies have been constantly expanding its operations to be close to their customers.

Bajaj Allianz General Insurance is one of the leading private general insurance companies in India and offers various general insurance products like motor insurance, home insurance, health insurance and also unique insurance plans such as wedding insurance, Event Insurance, Film insurance.

Bajaj Allianz General Insurance has received a rating of “iAAA”, which is the highest rating for claims paying ability from ICRA Limited (an associate of Moody’s Investors). This rating has been affirmed for the last two years consecutively.

As on 31st March 2009, the company garnered Rs. 2516 crores. During the year, the company emerged as the most profitable private general insurance company by generating Profit before Taxes of Rs.180 crores. The company issued over 6 million policies which reflect our capability to handle volumes and strong infrastructure.