'My Home Insurance All Risk Policy' will cover losses due to perils other than those specifically excluded unlike the existing policies available in the market that cover only specified risks, the private general insurer said here.

"This new product has been launched considering the absence of adequate policies that promise of covering your dream home with a right value,” Chief Executive Officer of Bajaj Allianz General Insurance Tapan Singhel said.

"Non-existence of essential benefits like covering precious household items, furniture, artworks or jewellery prompted us to bring in such an all-encompassing home insurance policy," Singhel added.

The Pune-based firm is a joint venture between Germany's Allianz Group and Bajaj Finserv, in which the latter holds 74 percent stake.

(Agencies)

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