How To Protect Your Home From Flooding With Home Insurance?
While the monsoons bring much-needed respite from the scorching heat to most parts of the country, this time of year also sees nature’s fury in the form of calamities such as floods, landslides and snowstorms. cyclones.
Besides the floods we have witnessed in parts of Andhra Pradesh, Tamil Nadu, Kerala, Andhra Pradesh, Uttarakhand, Goa and Maharashtra, we have also seen the devastation this year. by cyclones Tauktae, Yaas and Gulab.
There is also an option to cover the jewelry with the property and its contents. It is important to evaluate and choose the best policy to make sure that your home is financially safe from unforeseen damage.
TYPES OF COVERED HOUSES
Individual Apartment: If you live in a self-catering apartment in a gated community or in a detached building, there is a policy made especially for you. Such a product will cover the structure and contents of the apartment. Tenants can only insure the contents while the owners can insure both the building and its contents.
Independent building: In cities like Bengaluru, Delhi and Chennai, many people rent the entire building to family members or rent it out to tenants. In such cases, one can opt for home insurance that not only covers the contents but protects your building as well as the outdoor equipment. Tenants, however, can only insure content.
Independent villa: It can be a rented villa or a clean house. Tenants can choose to cover the contents while owners can insure the entire building, depending on the type of occupancy.
WHAT DOES HOME INSURANCE COVER?
Fire blanket: Coverage against fire damage resulting from electrical short circuits, gas cylinder explosion in apartments and houses and other similar situations.
Coverage in the event of burglary: Loss or damage due to burglary or theft is covered. In the event of a break-in, it is a burglary which will be covered by the home warranty.
Coverage against loss / damage to jewelry: Jewelry is optional coverage for home insurance products. Home insurance protects jewelry against loss or damage due to an insured event. It also covers jewelry burglary.
While you are consciously protecting your loved ones with health and life insurance coverage, don’t forget to protect your home, which could be one of your most valuable assets. With home insurance, damage caused by unfortunate events can be covered, giving you adequate financial cushion.
The author, Dilip Baba Neeronthiyil, is Vice President – Non-Automotive Underwriting at Digit Insurance. Opinions expressed are personal
(Edited by : Anshul)
First publication: STI