Having shifted into his ‘dream house’, Indian batsman Sachin Tendulkar has now protected his 5 storey Bandra home with a massive Rs 100 crore insurance policy – among the biggest insurance agreements by an individual. Sachin has purchased the insurance from a consortium of basic insurers, as per industry sources.
“A range of basic insurance providers has given a cover for the Sachin’s residence in Bandra for a price consideration of Rs 100 Crs,” the official of a public sector general insurance firm, who didn’t want to be named, says. According to the official, all the four state-run GIs plus a private insurance firm have given the cover. “Oriental Insurance Company, United India Insurance, New India Assurance and National Insurance Company are the several govt-owned general insurers giving the cover along with a private insurance firm,” the official says, adding the yearly premium would be close to Rs 40 lakh.
As per another insurance official, the cover has been taken in 2 parts. While a fire insurance plan has been received for Rs 75 crore, one more cover of Rs 25 crore has been purchased for things for the home like home furniture, electronic products and cricket accessories, among others. The fire insurance policy covers losses from fire, terror strikes, disasters like earthquakes, and robbery, among others. The policy covers the price of the land, compound walls, besides electrical devices.
Sachin shifted into the expansive 6,000-sq ft villa in Bandra West in Sept from a flat that had been allotted to the maestro under the sports quota.