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Tendulkar buys Rs 100-crore cover for his dream home

Having moved into his ‘dream house’,cricketer Sachin Tendulkar has now secured his five-storey Bandra residence with a staggering Rs 100 crore insurance cover — one of the biggest insurance deals by an individual.

Written by Press Trust Of India | Mumbai |
December 30, 2011 12:42:32 am

Having moved into his ‘dream house’,cricketer Sachin Tendulkar has now secured his five-storey Bandra residence with a staggering Rs 100 crore insurance cover — one of the biggest insurance deals by an individual.

The cricket icon has bought the insurance from a consortium of general insurers,according to industry sources.

“A consortium of general insurance companies has given a cover for the cricketer’s home in Bandra for a value consideration of Rs 100 crore,” an official of a public sector general insurance company,who did not wish to be named,said.

As per the official,all the four state-run GIs along with a private insurer have provided the cover. “Oriental Insurance Company,United India Insurance,New India Assurance and National Insurance Company are the four government-owned general insurers providing the cover along with a private insurer,” the official said,adding the annual premium would be around Rs 40 lakh.

According to another insurance official,the cover has been taken in two parts. While a fire insurance policy has been obtained for Rs 75 crore,an additional cover of Rs 25 crore has been bought for household items such as furniture,electronic gadgets and cricket accessories,among others.

The fire insurance covers losses from blaze,terror attacks,natural disasters like earthquakes,and burglary,among others. The insurance covers the cost of the land,compound walls,besides electrical equipment.

The Tendulkars moved into the sprawling 6,000-sq ft villa in Bandra West in September from a flat that had been allotted to the maestro under the sports quota.

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