Royal Sundaram Launches ‘Gruh Suraksha’ – Industry’s Most Comprehensive and Affordable Home Insurance Product


Chennai, January 19, 2017: Plans to Offer Unique Benefits Such as Loss of Rent, Rent for Alternate Accommodation as Well as Coverage for Household Items

– Guaranteed Acceptance of up to Rs. 5 Crore sum Insured in Building, Underwriting for Proposals Above Rs. 5 Crore sum Insured, With a Tenure of 1-20 Years

– Cover Against Terrorism Available as an add-on Cover for a Tenure of 1 Year

– Cover for Loss due to Burglary Introduced for the first time in Building Insurance

– Coverage for Mobile Equipment, External Equipment Like DG Sets, Solar Panels

– Enhanced sum Insured of up to Rs. 50 Lakh on Contents, Appliances and Jewellery

Royal Sundaram General Insurance Co. Limited today announced the launch of its most comprehensive and affordable home insurance policy – Gruh Suraksha. The product offers a suite of tailored offerings catering to the needs of diverse customer segments – ranging from those with annual income of Rs. 5 lakhs to more than a crore.

Gruh Suraksha not only offers insurance for the building but also offers unique benefits including insurance on loss of rent as well as provisions for rent for alternate accommodation. The policy covers any damage to the premises on account of terrorism, natural disasters, manmade calamities, accidents including damages caused by bursting of pipes/water tanks and leakages from automatic sprinkler, etc. Besides, the policy also offers covers up to Rs. 50 lakhs for household contents including paintings, digital devices, appliances and jewellery. Customers can also buy additional coverage on employee compensation, personal accident, external equipment, baggage insurance, etc.

Commenting on the launch of Gruh Suraksha, M.S. Sreedhar, Managing Director, Royal Sundaram General Insurance Co. Limited said, “At Royal Sundaram, we take pride in setting newer standards in segments of presence. In 2015, we did so with Lifeline suite of products in health insurance and this year we are introducing Gruh Suraksha – a most comprehensive and affordable home insurance product. With the Indian Government dedicated to offer housing for all by 2022, we are confident of witnessing a surge with millions of new homeowners. Home insurance as a category offers tremendous opportunities for growth in India as awareness about this insurance cover is low. We have also seen natural calamities such as floods in Uttarakhand, Kashmir, and Chennai in the last two years and similarly we have also seen several instances of residential apartments being exposed to the risk of fire due to short circuit, gas cylinder leakage related explosions etc., which have affected houses and household belongings.”

Sreedhar further added, “Home insurance is witnessing improved acceptance not only in the traditional tier 1 and 2 cities but in rural areas as well. With Gruh Suraksha, we are offering a very distinct product laced with high service standards and wider affordability. We are excited that this product will meet the expectations of the public in terms of a wider coverage for their home and household articles.

Commenting on the unique features of Gruh Suraksha, Nikhil Apte, Chief Product Officer, Royal Sundaram General Insurance Co. Limited said, “This product is ideally suitable for customers who are seeking comprehensive home insurance. It offers five plans viz. Bronze, Silver, Gold, Platinum and Diamond, catering to all segments from affordable housing category (Bronze) to HNI (High Net worth Individual) category (Platinum and Diamond Plans). The product offers enough and more choices to all customers in our target segments. The uniqueness of this product is its extremely flexible design. For e.g. one can either buy ‘building only coverage’ (1-20 years) or coverage for household articles (1-3 years) or both the coverages in a single policy. One doesn’t have to give any declaration about the make, value, serial number about individual assets but need to state the total sum insured multiplied by the applicable rate for the section to arrive at premium payable. Hence, the customers can actually purchase the policy in 5 minutes by filling up the proposal form and making payment for premium.”

Gruh Suraksha offers coverage for home building as well as household articles. For more information on the product, please log on to

About Royal Sundaram General Insurance Co. Limited

Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), a subsidiary of Sundaram Finance, is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture between Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and Royal & Sun Alliance Insurance plc, UK, one of the oldest general insurers in the UK. In July 2015, Sundaram Finance acquired the 26% equity holding from Royal & Sun Alliance Insurance plc. Consequently, the entire 100% equity holding in Royal Sundaram is now held by Sundaram Finance (75.90%) and other Indian Shareholders (24.10%).

Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialised insurance products in Fire, Marine, Engineering, Liability and Business Interruption risks to commercial customers. Royal Sundaram also offers specially designed products to the small and medium enterprises and rural customers as well. The company is a pioneer in bancassurance in India, having long-standing tie-ups with reputed banks and NBFCs. Currently, Royal Sundaram has over 5.20 million customers, 1700 employees and its products are distributed in over 115 cities across India, through agents, distribution partners, affinity partners and brokers.