The Bharat Griha Raksha policy can be an important investment for homeowners in India if we consider the increasing frequency of natural disasters and other unexpected events. The Bharat Griha Raksha policy is a home insurance policy designed to protect homeowners from financial loss due to damage or loss of their property. The policy covers a wide range of risks, including fire, theft, natural disasters, and other unforeseen events. The policy is offered by several insurance companies in India and is gaining popularity due to its comprehensive coverage and affordable premiums.

The policy covers both the structure of the home as well as the contents inside, providing homeowners with peace of mind in the event of unexpected damage or loss. The policy also offers additional benefits and it can be customized to suit the needs of individual homeowners, with different coverage options and add-ons available. In this blog, we will discuss how this comprehensive home insurance policy can provide financial security and peace of mind for homeowners and their families.

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Bharat Griha Raksha Policy

The Insurance Regulatory and Development Authority of India (IRDA) launched the Bharat Griha Raksha Policy on April 1, 2021. This policy intends to protect home and building owners when unexpected circumstances cause physical loss, damage, or destruction of their dwellings and the contents in them.

The policy offers two basic types of coverage: structure coverage and contents coverage. Structure coverage provides coverage for damages caused to the structure of the insured property, including the building, walls, roof, and other permanent fixtures. Contents coverage provides coverage for damages caused to the contents of the insured property, including furniture, appliances, and personal belongings. Some policies also offer additional benefits such as personal accident coverage or coverage for precious personal belongings.

The Bharat Griha Raksha Policy is an important policy for Indian homeowners since it provides much-needed protection against a variety of risks. With the rising frequency of natural catastrophes and other disasters, homeowners are realizing the value of having a comprehensive home insurance policy. This insurance provides a wide range of coverage options, allowing homeowners to select the coverage that best meets their needs and budget. Homeowners, tenants, and landlords can all benefit from the program. However, depending on the type of occupancy, coverage and premium costs may differ. The policy can be acquired online or through an approved IRDA agent.

Bharat Griha Raksha Policy Highlights

This policy includes numerous features to make it an appealing choice for homeowners. These features include:

Comprehensive Coverage: The insurance covers a wide range of perils, such as fire, explosion, earthquake, lightning, storm, flood and burglary, among others.

Adjustable Sum Insured: Homeowners can customize their sum insured to meet their specific needs and budget. At the time of renewal, the sum insured can be increased or decreased.

Add-On Covers: Homeowners can choose from add-on covers including personal accident coverage, electronic equipment coverage, and home appliance protection, among others.

Tax Benefits: The premium paid for the Bharat Griha Raksha Policy is tax deductible under Section 80C of the Income Tax Act. The policyholder can deduct up to Rs. 1.5 lakh from the premium paid.

Reasonable Premiums: The premiums for the Bharat Griha Raksha Policy are quite reasonable and can be paid in instalments or annually. The premium is determined by the sum insured, the property's location, and its age.

No-Claim Bonus: Some insurers may provide policyholders a no-claim bonus if they do not file any claims throughout the policy period.

Coverages Provided in Bharat Griha Raksha Policy

The Bharat Griha Raksha Policy offers comprehensive coverage for homeowners. Here are some of the important coverages of this policy:

A. Home Building Coverage: Covers damage to the structure of your home.

B. Home Contents Coverage: Covers the things or belongings inside your home. If the home building is covered, its overall contents are automatically insured for 20% of the home building's sum insured (up to Rs 10 Lakh), unless you select a higher sum insured for home contents and provide the details.

(Please keep in mind that at least one of the two above-mentioned covers is the minimum requirement.)

C. Optional Coverage: The following optional covers are available under the insurance for an additional premium-

i. Agreed Value Basis Coverage for precious belongings: This additional coverage can compensate for the loss of precious belongings of your home such as silverware, jewellery, paintings, works of art etc.

ii. Personal Accident Coverage: A compensation of Rs. 5 lakh per person is payable if a covered peril causes damage to your home building and/or belongings, as well as causes the death of you or your spouse.

Exclusions in Bharat Griha Raksha Policy

The policy does not cover damage or loss caused by the following:

  • Wear and tear
  • Gradual deterioration
  • Loss or damage of any machinery due to arcing, over-running or self-heating
  • Costs, fees or expenses for preparing any claim.
  • Property is missing /has been mislaid
  • Addition, extension, or alteration to the insured building above 10% of its carpet area
  • Loss or damage to an electronic /electric machine
  • Damage due to insects, rodents, or other animals
  • War, invasion, or civil unrest
  • Nuclear or radiation-related incidents
  • Pollution or contamination
  • Loss or damage to bullion or unset precious stones
  • Consequential/ indirect loss or damage
  • Vehicles, manuscripts, and explosive substances
  • Intentional or deliberate damage or criminal acts by the policyholder or their family members

It is important to carefully read the policy documents to understand the specific exclusions and limitations that apply to your coverage.

Policy Renewal and Cancellation

The Bharat Griha Raksha Policy provides coverage for a period of one year from the date of purchase. After the policy term ends, policyholders have the option to renew their policy to continue enjoying the benefits of home insurance. To renew the policy, policyholders need to pay the premium amount before the due date. Failure to pay the premium on time may result in the policy being cancelled. In case of non-renewal, policyholders lose all coverage benefits and need to purchase a new policy to avail of the benefits.

The policy can be cancelled by the policyholder at any time during the policy term. In such cases, the policyholder needs to submit a written request to the insurance company stating the reason for cancellation. The insurance company will then process the request and refund the amount due to the policyholder ( if any), based on the policy's terms and conditions.

It is important to note that the insurance company may also cancel the policy in case of fraudulent activities or misrepresentation of facts by the policyholder. In such cases, the insurance company will provide a notice of cancellation to the policyholder and refund any amount due, based on the policy's terms and conditions.


In the discussion above, we have seen how the Bharat Griha Raksha Policy offers comprehensive coverage and protection for homeowners across India. This policy not only safeguards one's dwelling against unforeseen events but also provides financial security and peace of mind. With its detailed coverage options, flexible plans, and commitment to customer satisfaction, Bharat Griha Raksha Policy emerges as a reliable partner in ensuring the safety and well-being of homes. By understanding the nuances of this policy, homeowners can make informed decisions, mitigating risks and securing a resilient shield for their cherished abodes.

Frequently Asked Questions

  1. Who can take a Bharat Griha Raksha policy?

The policy is available to all Indian citizens who own a residential property, including apartments, villas, and independent houses. The eligibility criteria for the policy are straightforward. The homeowner must be the legal owner of the property and must have valid proof of ownership. Additionally, the property must be used for residential purposes only and not for commercial activities.

2. How can one calculate the premium for the Bharat Griha Raksha policy?

The premium for Bharat Griha Raksha Policy can be calculated based on several factors, including the value of the property, the location of the property, the age of the property, the construction type, and the coverage amount. The policyholder can choose the coverage amount based on their requirements and budget.

It is important to note that the premium for the Bharat Griha Raksha Policy is not fixed and may vary from one insurer to another. Therefore, it is advisable to compare the premiums and coverage offered by different insurers before purchasing the policy.

3. What are the guidelines set by IRDAI regarding the Bharat Griha Raksha policy?

The Insurance Regulatory and Development Authority of India (IRDAI) has set guidelines for all home insurance policies, including the Bharat Griha Raksha policy. These guidelines ensure that the policy provides adequate coverage to the policyholder and that the policy is transparent in terms of coverage and premium.

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