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19 - HDFC ERGO - Long Term Fire Insurance

Coverage of Property Includes
Building including Plinth & Foundation and Compound Wall / Leasehold
improvements against natural calamities including earthquake.

Product Features
Tenure
• Upto 20 years ( Residential Property )
• 1 year ( Commercial Property )
Perils Covered
• Fire, Bush Fire, Explosion/Implosion, Subsidence, Landslide & Rock
slide, Riot, strike and malicious damage, Impact damage, lighting,
damage caused by aircraft, airdrop of articles, Missile testing
operations, Flood, Inundation, Tempest,Typhoon, Hurricane, Cyclone,
Storm, Bursting & overflow of water installations, pipes, Leakage
from sprinkler installations.

Cover the Reinstatement value of the property
• The sum insured is calculated as No of Sq Ft * Rs 3,250/
Rs 2,600 per Sq Ft of carpet area depending on the location.
• The tenure for residential property has to be loan tenure.
• The sum insured of the property is increased by 10% every year.

Cannot grant to
1. Co-operative Societies.
2. Under-construction property cannot be covered.
( To be covered during final tranche )
3. Cannot be granted to commercial premises.
Claim Process
• No refund if there are no claims under the policy.
• No long term discount on EQ & Terrorism.
• Canceled within three years – No discount.
• Canceled after three years – premium reworked based on actual
period in years.
• Pro-rata premium is refunded.

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