1. A new insurance policy has been introduced by Iffco Tokio General Insurance Company to cover bank lockers against various risks including fire , earthquake and burglary.
2. Any valuables like jewels, antique watches or electronic items that can be kept inside a bank locker and are declared can be covered. However cash kept in lockers will not be covered.
3. Apart from insuring jewellery and valuables , you can insure important documents by taking an add on cover
4. For small value items, a declaration will be sufficient for coverage. But if any single item is valued at more than Rs.10.00 Lakhs and if the overall value of the items in the locker exceeds Rs.40.00 Lakhs, valuation certificate to be produced for the contents of the locker in order to covered under the policy
5. Premium will be Rs.300 for a cover of Rs.3.00 Lakh and maximum of Rs.2500 for a cover of Rs.40.00 Lakh
6. For making claim, bank should acknowledge the robbery or loss and they should file FIR with police. only then claim will be entertained.