Householder's Package Policy

  •    About Policy 
  •    Coverage 
  •    Rating 
  •  Discounts 

About Policy

Magma HDI's "Householder's Package policy" is devised to cater to the overall requirement
of you as a House owner. Under this policy, we have combined a number of contingencies,
which are normally covered as separate policies.

Here's what you need to get started



1.   Section 1 - Fire & Allied perils - Building & Contents

  • This section covers Buildings of construction other than 'Kutcha' construction only
  • Contents excluding money and valuables (unless agreed specifically by us.
  • The coverage under this Section are against  only the perils  covered under this section


a) Fire

b) Lightning

c) Explosion / Implosion

d) Aircraft Damage

e) Riot, Strike, Malicious and Terrorism Damage

f) Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation

g) Impact Damage

h) Subsidence and Landslide including rock slide

i) Bursting and/or overflowing of Water Tanks, Apparatus and Pipes

j) Missile Testing Operations

k) Leakage from Automatic Sprinkler Installations

l) Bush Fire

m) Earthquake

n) Terrorism (On payment of additional premium)

  • Sum Insured for Assets (Building, permanent furniture, fixtures, fittings, Electrical fans, tube lights, and Domestic Appliances) must be on Reinstatement Value basis.

2.   Section 2 - Burglary  Robbery


The Section covers loss or damage by actual or attempted burglary and/or robbery including theft during the policy period in respect of the following:

(a) Contents or any item whilst kept in the insured premises

(b) Insured premises ( including reasonable costs for damaged locks)

(c) Currency Notes: Cash up to the limit agreed and as mentioned in the schedule contained in a safe and locked almirah

3.   Section 3- All Risk (Jewelry Valuables)

This Section will indemnify you in respect of your jewelry and other valuables including precious stones etc whilst kept or lying in your house or whilst worn during travelling and/or in any social function occasioned by fire, theft, robbery or any other fortuitous event.

4.   Section 4- Plate Glass

This Section covers:

1. Accidental loss or damage to Plate Glass.
2. Damage to frame and framework of any description following breakage of Glass
3. The cost of tinting, lettering, painting, embossing, silvering or any other and/or Neon Boards/glow signs subject to a maximum of Rs 5000/-. ornamental work on the replacement Glass, provided that such costs have been included in the Sum Insured of the Glass under this Section.

5.   Section 5- Electronic Equipment

This Section covers:

1. Loss of or damage to your personal computers, Television ,Audio /Video

2. In case of partial losses, no depreciation is deducted except for parts with limited

3. Sum Insured to be on Reinstatement basis.

6.   Section 6- Electrical Mechanical breakdown of Domestic Appliances

1. The section covers the Domestic appliances/ machines such as Air Conditioners,

2. Sum insured to be on Reinstatement basis.

7.   Section 7-Personal Accident

  • The Insured may opt  for one of the following three benefit plans:

1) Comprehensive Cover- Death + Permanent Total Disablement +Permanent Partial Disablement + Temporary Total Disablement

2) Wider Cover - Death + Permanent Total Disablement + Permanent Partial Disablement.

3) Basic Cover - Death only.

  • Should the accident result in the total and irrecoverable

a) Loss of sight of both eyes,

b) Physical separation of or loss of ability to use both hands or both feet,

c) Physical separation of or loss of ability to use one hand and one foot,

d) Loss of sight of one eye and physical separation of or loss of ability to use either The Insured shall be entitled to payment as per table of benefits shown in the schedule.

  • The temporary total disablement benefits shall be paid @ 1% of the capital sum Insured or Rs 5000/-per week whichever is lower for maximum 104 weeks.

  • Family package discount:

Family size of more than one member 10.00%

NB: Family means Proposer, spouse, dependent children and dependent parents.

  • Age Limit: Entry Age

Minimum:18 years for adult and 5 years for children

Maximum: 65 years for adult and 23 years for children.

Renewable Age

Maximum: Life long.

  • Capital Sum Insured

Minimum: Rs. 1,00,000/-

Maximum: 60 times the monthly income.

Note: i. For salaried employee, Capital Sum Insured will be reviewed after normal retirement/voluntary retirement of the Insured or attaining of 60 years by the Insured whichever is earlier.

ii. Capital Sum Insured cannot be enhanced during the currency of the policy. However, at the time of renewal, enhancement of CSI may be considered after reviewing the income component of the Insured.

8.   Section 8- Employee's Compensation

This section protects you against any legal liability which your domestic helps or his/her legal heir may bring against you due to injury and / death suffered by them during and out of employment suffered in the premises covered under the policy.

9.   Section 9-Public Liability

This Section covers you against legal liability including the Defence costs incurred by you against

(a) Third Part Property Damage

(b) Third Party injury/death

Caused due to any negligence or civil wrong doing committed by the insured and /or his family members, employees in the premises covered under the policy if occurred during the policy period.







Fire and Allied Perils- Building & Contents

Rs. 0.34%o + 0.05%0 for EQ +applicable Terrorism Rate if opted for by the Insured.


Burglary & Robbery

If the limit of liability is 40 % of the full value, the rate shall be 35% of the base Rs.0.60%0 rate.


All Risk

(Jewelry &Valuables )

Rs. 10.00%0


Plate Glass

Rs. 10.00%0


Breakdown of domestic Appliances

Rs. 2.25%0 for all machines other than ACs and Rs.10.00%0 for generators & ACs.


Electronic Equipment Insurance

Rs.7.0%o + Applicable Terrorism Rate if opted for by the insured.




Nature of Cover Category-Normal
Basic <25 0.42%o
>=25to<=65 0.40%o
>65 0.46%o
Wider <25 0.95%o
>=25to<=65 0.90%o
>65 1.04%o
Comprehensive <25 1.47%o
>=25to<=65 1.40%o
>65 1.61%o


Employees Compensation

Rs. 4.50%0on the annual wages of the employees to be covered


Public Liability

Rs.3.36% on the AOY limit not to exceed Rs.10 L/p


i.Section 1 is compulsory.

ii.Minimum Section(s) to be insured-Two including Section 1.


The policy is subject to the following sectional discounts:

1) If the Insured opts for more than 3 sections and up to 6

sections, then he will be allowed 15% discount on the premium

2) If the Insured opts for more than 6 sections, then he will be allowed 20% discount on the premium.

(For more details, please refer to Policy wordings)




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