Mumbai, Dec 30 (): Sachin Tendulkar and his family moved into the Rs 80 crore – new house built in Bandra West’s Perry Cross Road in September. Sachin has now secured his five-storey residence with a staggering Rs 100 crore (Rs 1 billion) insurance cover, one of the biggest insurance deals by an individual.
While cricket superstar Sachin Tendulkar awaits a ‘century of centuries’, his new five-storey bungalow in Bandra has already scored one. He has bought the insurance from a consortium of general insurers, according to industry sources.
“A consortium of general insurance companies has given an insurance 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 wished not to be named, said.
The cover is in two parts: a fire insurance policy of Rs 75 crore (Rs 750 million) and an additional cover of Rs 25 crore (Rs 250 million) for items within the house.
The first policy is a cover against fire, terrorism activities, act-of-God peril (like earthquake), bomb blast, burglary, etc. Sources said the insurance covers the cost of the bungalow land, compound walls, electrical equipment, security installations and water reservoir.
The master blaster has taken an additional cover of Rs 25 crore for items inside the mansion. These include his cricket kits, pictures, wrist watches, furniture, electronic gadgets and others, the source added.
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.
With this deal, Tendulkar has joined a select league of industrialists and film stars who have taken such high insurance covers in the recent past.
Policy amount & Owners
Rs 150 crore Mukesh Ambani
Rs 110 crore Shah Rukh Khan
Rs 100 crore Amitabh Bachchan
Rs 100 crore Sachin Tendulkar