Home Appliance Insurance Policy
The Home Appliance Insurance policy offers
protection against the risk of loss or damage to domestic
appliances due to electrical or mechanical breakdown. Electrical
and mechanical appliances, which are distinctly different from
electronic items, come under the purview of home appliance
The domestic appliances insurance policy can be taken as an
individual policy or as a part of Householder's Package Policy.
The amount of claim payable would be limited to the sum insured or
market value at the time of loss whichever is lower. Applicants
are required to submit the completed proposal form furnishing full
particulars of each appliance for easy identification like
manufacturers serial No, Frame No, Batch No and/or Model No.
The cost of home appliance insurance policy is payable by way of a
monthly premium charged on the replacement value of the appliance.
equipment operated with electrical power may suffer breakdown due
to overloading, excessive pressure or voltage fluctuations.
Generally, warranty covers only manufacturing defects. This policy
provides for losses due to such electrical and mechanical