Latest news with #SubramanyamBrahmajosyula
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Business Standard
14-05-2025
- Business
- Business Standard
Home insurance must: Loss of rent for landlord, liability cover for tenant
Insuring contents is critical if a property being rented is furnished; declare valuable items to insurance company Himali Patel Mumbai Listen to This Article Home insurance policies nowadays are highly modular. In SBI General's Flexi Home Insurance, for instance, only fire cover is mandatory. Customers can thereafter select whatever covers they need. To do this, however, landlords and tenants must be aware of the covers that are relevant to them. Must-have covers for landlords Landlords must insure their buildings. 'It should be insured against perils such as fire, earthquake, storm, flood, landslide, riot, terrorism, and so on,' says Subramanyam Brahmajosyula, chief product and marketing officer, SBI General Insurance. Contents insurance is essential if the property being rented is furnished. 'The cover could include furniture, appliances, and
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Business Standard
30-04-2025
- Business
- Business Standard
SBI General launches custom home insurance: How it compares to others
SBI General Insurance has launched Flexi Home Insurance policy, aimed at both homeowners and tenants. This flexible insurance product is designed to protect not only the structure of homes but also contents and additional risks, all customizable to suit individual needs. A flexible approach to home protection According to the SBI General's statement the Flexi Home Insurance policy allows customers to design their own plan with a basic mandatory 'Fire' cover at its core, while offering a suite of add-ons including: Natural calamity coverage Burglary and theft protection Valuable item protection Alternative accommodation expenses Policyholders also benefit from discounts for opting for multiple optional covers, making the product both versatile and economical. Speaking on the launch, Subramanyam Brahmajosyula, chief product & marketing officer at SBI General Insurance, said, 'Every home is unique, and so are its protection needs. With Flexi Home Insurance, we empower customers to choose the level of protection that suits them while ensuring financial security against unforeseen events.' Key features of SBI General Flexi Home Insurance One of the standout features of this policy is its long-term tenure, with a one-time premium payment offering coverage for up to 20 years, a rare option in the home insurance market. This is especially attractive to homeowners looking for uninterrupted protection and peace of mind over the long term. Backed by strong performance This product launch comes on the back of a strong performance year for SBI General. According to the company's statement in FY 2024-25, it recorded an impressive 112 per cent growth in Gross Written Premium, reaching Rs 14,140 crore. Its accolades include awards for Best Claims Settlement ratio and General Insurance Company of the Year. Similar home insurance products in the market HDFC ERGO Home Shield Policy Comprehensive protection against fire, flood, burglary, and electrical/mechanical breakdown No depreciation on contents up to 10 years old Optional cover for portable electronics and automatic inclusion of new assets Add-ons include hotel stay and rent for temporary accommodation Discounts up to 30 per cent for home safety features ICICI Lombard Complete Home Protect Policy Covers owned and rented homes including appliances, furniture, and jewelry Insures against natural disasters, terrorism, and water damage Covers alternate accommodation costs Long-term policy tenure up to 5 years Claims settled within 7 days with proper documentation Bajaj Allianz My Home Insurance All Risk Policy
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Business Standard
30-04-2025
- Business
- Business Standard
SBI's custom home insurance is here: How it compares to other plans?
SBI General Insurance has launched Flexi Home Insurance policy, aimed at both homeowners and tenants. This flexible insurance product is designed to protect not only the structure of homes but also contents and additional risks, all customizable to suit individual needs. A flexible approach to home protection According to the SBI General's statement the Flexi Home Insurance policy allows customers to design their own plan with a basic mandatory 'Fire' cover at its core, while offering a suite of add-ons including: Natural calamity coverage Burglary and theft protection Valuable item protection Alternative accommodation expenses Policyholders also benefit from discounts for opting for multiple optional covers, making the product both versatile and economical. Speaking on the launch, Subramanyam Brahmajosyula, chief product & marketing officer at SBI General Insurance, said, 'Every home is unique, and so are its protection needs. With Flexi Home Insurance, we empower customers to choose the level of protection that suits them while ensuring financial security against unforeseen events.' Key features of SBI General Flexi Home Insurance Mandatory Fire Cover: Basic protection against fire is required under all plans Customizable Add-ons: Choose from natural disasters, burglary, valuable items, and more Coverage for Both Owners and Renters: Tailored protection for varied residential needs One-Time Long-Term Payment: Premium payable once for a tenure of up to 20 years Discounts on Multiple Covers: Cost-effective flexibility for broader coverage Protection for Structure and Contents: Comprehensive security for both physical property and possessions Long-term peace of mind One of the standout features of this policy is its long-term tenure, with a one-time premium payment offering coverage for up to 20 years, a rare option in the home insurance market. This is especially attractive to homeowners looking for uninterrupted protection and peace of mind over the long term. Backed by strong performance This product launch comes on the back of a strong performance year for SBI General. According to the company's statement in FY 2024-25, it recorded an impressive 112 per cent growth in Gross Written Premium, reaching Rs 14,140 crore. Its accolades include awards for Best Claims Settlement ratio and General Insurance Company of the Year. Similar home insurance products in the market Several insurers offer competitive alternatives that reflect a similar customer-first philosophy: HDFC ERGO Home Shield Policy Comprehensive protection against fire, flood, burglary, and electrical/mechanical breakdown No depreciation on contents up to 10 years old Optional cover for portable electronics and automatic inclusion of new assets Add-ons include hotel stay and rent for temporary accommodation Discounts up to 30 per cent for home safety features ICICI Lombard Complete Home Protect Policy Covers owned and rented homes including appliances, furniture, and jewelry Insures against natural disasters, terrorism, and water damage Covers alternate accommodation costs Long-term policy tenure up to 5 years Claims settled within 7 days with proper documentation Bajaj Allianz My Home Insurance All Risk Policy All-risk cover for contents, jewelry, and portable devices Global coverage extension for valuables Covers tenants, landlords, and homeowners Rent allowance if the home becomes uninhabitable Option for full or partial sum insured; valuation needed for high-value items
