RENTERS INSURANCE. Assurance on Security, Protection and Peace of Mind

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1 RENTERS INSURANCE Assurance on Security, Protection and Peace of Mind

2 About Paymatrix Paymatrix is India's leading Property Rent management platform that enables thousand of tenants, landlords and property managers to better manage their rentals. We facilitate monthly rent payments and rent deposits on credit cards and also through easy EMI options through alternative credit channels. In addition, we offer comprehensive rent management solutions including Rental documentation, Tenant screening services, Renters and Landlords insurance, rent in advance and multiple property management. Introduction - Renters Insurance Household belongings are one of the most important possession of a home dweller and that's even more precious for a tenant who moves from one house to another. Any loss or damage to it due to unforeseen circumstances is a very harrowing experience and sometimes the financial burden due to the loss can have a lasting impact on a family. The impact of loss or damage is much more devastating for the companies working out of leased or rented space, that may be cripple the entire operations and their company might go financially sick if the loss hasn't covered through appropriate insurance instrument. We, at Paymatrix, understand this problem of tenants, both individual home dweller and commercial players, very well and we have tied up with insurance companies to have an exclusive insurance product designed for tenants. This can act as a potential guard against various risks and contingencies. We also made sure this exclusive insurance product is priced extremely competitive and in the same time provides utmost safety to you, your family and your commercial entity. Who can buy Renters Insurance There are two kinds of tenants who can purchase our renters' insurance product The residential tenants, who are home dweller, who live out of a rented property (i.e. flat / apartment / individual house ) The commercial tenant, who are having their business operations running out of a leased or rented property (i.e. commercial buildings)

3 How to purchase Renters Insurance Purchasing the Renters insurance is a very simple process. Sign In Get Quotation Payment Policy disbursal Step 1: Existing customers (a) Login into your Paymatrix account (b) In the left menu of your dashboard, click the 'Get Insured' tab (c) If you have multiple properties you will get a popup to select the appropriate property. Please select the property to be insured New customers (a) Signup for Paymatrix account (b) Login into your Paymatrix account (c) In the left menu of your dashboard, click the 'Get Insured' tab Guest customers (a) Click the 'Get Quotation' button in the renters insurance page Step 2: If you an existing user, then the basic profile and the property sections will be pre-populated. (a) Guest customers Enter your basic profile information and click 'Proceed Next' (b) Coverage Premium Select the insurance coverage type and also the coverage that you need and click 'Get Insured'

4 'Standard Fire & Special Perils Insurance' is the standard policy cover The Add ons can be selected as per your choice Coverage of a particular insurance coverage type can increased only step wise (i.e. by Rs 1 Lakh or 10,000 based on the coverage type ) Final coverage amount can be seen in 'Total coverage' column The 'Total Amount to be paid' is the quote for the renters' insurance (c) Disclosures Enter the policy start date, property address to be insured, insurance policy communication address and the asset disclosures. Read through the disclaimers and click 'I Agree' Nominee name and the Nominess relationship to be entered if the personal accident insurance type add-on is selected Asset disclosure value should be less than the total coverage that is provided in the 'Coverage Premium' section (d) Summary Check if all the information that is provided by you are correct and click 'Pay Premium' Step 3: (a) In the payment page, select the Payment method you want to use ( we support Credit Card, Debit Card, Net Banking, UPI and Wallets - Freecharge, Olamoney, Airtel Money, PayUmoney and Oxigen ) (b) After entering the Payment details click 'Pay Now' button Once you complete the Payments you will get a confirmation pop-up message and also a mail confirmation regarding the Insurance purchase. It will take 2 Business days for you receive the actual policy documents.

5 Scope of the Renters insurance Standard Fire & Special Perils Insurance Applicability Standard Fire & Special Perils (SFSP) insurance is available for both the type of tenants i.e. The residential tenants, who live out of a rented property The commercial tenant, who are having their business operations running out of a leased or rented property (i.e. commercial buildings) General Information Standard Fire & Special Perils (SFSP) insurance covers against loss or damage to contents in the property due to Fire, Lightning, Explosion, Aircraft damage, Riot, Strike, Malicious damage, Storm, Tempest, Flood, Inundation, Subsidence / Landslide including rockslide, Bursting and / or overflowing of water tanks, Leakage form Automatic Sprinkler Installation Loss of Rent Loss of rent is covered in the event when one of the fire perils occur, and renders the premise unfit for occupation The amount payable under the policy will be equivalent to the rent lost for the duration for which you can't pay for the rent subject to the limit of sum insured The amount payable shall be upto the sum insured on Rent and till the period the actual premise is reinstated Alternate Accommodation Policy may be extended to cover the above subject to following : Additional expenses of rent for an alternative accommodation in respect of nonmanufacturing risks may be covered on the following basis

6 The period of Indemnity may be limited to the period during which the original premises remain untenantable as a result of occurrence of perils insured against The additional expense recoverable under the policy may be additional rent actually paid i.e. the difference between the new and the original rent only. Certificate from the Local Municipal Authority or an Architect to the effect that premises in question are untenantable will be accepted as adequate proof of the fact that the premises, in fact, have become untenantable. Requisites Details of assets Plant & Machinery, FFF (Furniture, fixtures, fittings), Stocks and Stock in process, Other contents Exclusions Damage caused by war, invasion, act of foreign enemy hostilities or war like operations War, Civil war and nuclear perils Loss due to pollution or contamination excluding that which is resulted from a peril hereby insured against Loss, destruction or damage to bullion or unset precious stones, any curios or works of art for an amount exceeding Rs /-, manuscripts, plans, drawings, securities, obligations or documents of any kind, stamps, coins or paper money, cheques, books of accounts or other business books, computer systems, records, explosives unless otherwise expressly stated in the policy Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature. Loss, destruction or damage to any electrical machine, apparatus, fixtures and fittings arising from over-run, excessive pressure, short-circuiting, self heating or leakage of electricity from whatever cause Loss of earnings, loss by delay, loss of market Loss, or damage by spoilage Loss by theft during or after the occurrence of any insured peril except as provided under RSMD cover

7 Burglary Insurance Applicability Burglary insurance is available for both the type of tenants i.e. The residential tenants, who live out of a rented property The commercial tenant, who are having their business operations running out of a leased or rented property (i.e. commercial buildings) General Information Burglary Insurance Policy covers against loss or damage to contents by Burglary i.e. actual, forcible and violent entry of and/or exit from the premises. Currently theft is not covered as a part of this insurance. Currently, the 10% First Loss Basis is applicable for the Burglary Insurance. i.e. If a tenant take a Burglary Insurance for the Total Coverage of Rs. 10 Crores on the First Loss Basis of 10%, in an event of total loss of contents due to burglary, then the liability of the insurer will be restricted to Rs. 1 Crore. Hence, it is necessary for the tenants to understand the 10% First Loss Basis before applying for the Burglary Insurance. Requisites Details of assets Plant & Machinery, FFF (Furniture, fixtures, fittings), Stocks and Stock in process, Other contents Claims experience for past 3 years Security arrangements at the premises

8 Exclusions Deductible stated in the policy Gold, watches, Jewellery, precious stones, plans, designs, money, business books etc. unless specifically insured Loss or damage where any insured or member of the insured's household or of his business staff is concerned in the actual theft or damage War, Civil war and nuclear perils Confiscation of items by customs or other authorities Premises remain unoccupied for more than seven days, unless specifically agreed Depreciation, wear and tear of goods or equipment Consequential loss or Legal liability of any kind Uninformed material alterations in the premises

9 Personal Accident Insurance Applicability Personal Accident Insurance is available for tenant who is buying the Insurance and it is applicable for both kind of tenants i.e. The residential tenant, who live out of a rented property The commercial tenant, who are having their business operations running out of a leased or rented property (i.e. commercial buildings) General Information Personal Accident Insurance Policy covers against bodily injury sustained or death resulting from an accident caused by an external means. The coverage includes both the permanent and the partial disability and the dismemberment of the accidental cause.the partial disability and the dismemberment of the accidental cause. Requisites Nominee Name and Nominee Relationship is required and will be used during the compensation settlement in case of an personal accident claim Exclusions Deductibles stated in the policy Injury, Disablement or Death of the Insured intentional self-injury, suicide, whilst under the influence of intoxicating liquor or drugs, directly or indirectly caused by venereal disease/s, AIDS or insanity, arising or resulting from the insured committing any breach of law with criminal intent Injury, Disablement or Death of the Insured due to or arising out of or directly or indirectly connected with or traceable to War, Civil war, Hostilities (whether war be declared or not), and nuclear perils Pregnancy Exclusion Clause : The Insurance under this Policy shall not extend to cover death or disablement resulting directly or indirectly caused by, contributed to or aggravated or prolonged by child-birth or from pregnancy or in consequence thereof.

10 Renters' Insurance Premium rate Our coverage premium is one of the most affordable amongst the comparable Tenant Insurance providers in India. We have worked with various insurers and the brokers to come up with these rate to the delight of the tenants. Base Rate Policy Base Coverage (in Rs ) Base Premium (in Rs) Standard File & Special Peril Insurance 10,00, Burglary Insurance 1,00, Personal Accident Insurance 1,00, The Base cover can be increased and the premium changes accordingly. All the three policy the base cover can be increased with the coverage multiple of Rs. 1 Lakh and the Premium increases according to their premium multiple ( as shown in the below table) Coverage and Premium Multiple If the coverage requirement is more than the Base Coverage, coverage can be increased as a step of Rs. 1 Lakh. Below table shows the additional premium details per Lakh. Policy Coverage Multiple (in Rs ) Premium Multiple (in Rs) Standard File & Special Peril Insurance 1,00, Burglary Insurance 1,00, Personal Accident Insurance 1,00,000 50

11 Example If the tenant requires the coverage of Rs. 15 Lakhs for the contents against natural calamities, Rs.5 Lakh against Burglary and Rs. 5 Lakh against Personal accident, below will be the calculated premium. Policy Coverage (in Rs ) Premium (in Rs) Standard File & Special Peril Insurance 15,00, Burglary Insurance 5,00, Personal Accident Insurance 5,00, GST of 18% will be levied on the premium

12 Renters' Insurance Renewal process Insurance can be renewed by the customers through paymatrix with the same process that is being used for purchasing the Insurance. Cancellation process The Tenant Insurance can be cancelled at any point of time by a notice in writing to us at support.insurance@paymatrix.co.in or to the insurer's address as in your policy document. This will then be forwarded to the Insurers to get the premium returns as per the insurer's short period rates, provided that there is no claim on the policy. DISCLAIMER: The above mentioned information is only indicative in nature. For details of coverage and exclusions, please refer to the policy wordings. Insurance is the subject matter of the solicitation.

13 Contact us No.02,T-Hub, CATALYST, IIIT-H Gachibowli,Hyderabad, Telangana