Earthquake In Delhi: A 4.4-magnitude earthquake struck Delhi-NCR on Thursday morning, with the epicentre located in Haryana’s Jhajjar, 51 km west of Delhi. Here’s how you can save yourself from financial ruin if your home suffers from severe damage.
Earthquakes and other natural disasters highlight the importance of safeguarding one’s home against potential damages. (AI generated image)
Home insurance is essential for ensuring financial security when faced with unexpected disasters like earthquakes. They are a comprehensive policy that covers fire and allied perils, including floods and earthquakes, for both home structures and contents. (AI generated image)
A standard home insurance policy generally include coverage for natural disasters like earthquakes. Policies like ‘Bharat Griha Raksha’ cover a range of natural events including earthquake, landslides, floods etc. (AI generated image)
To protect your home from earthquakes and other natural disasters, one should consider a standard home insurance policy. This typically offers two primary coverages: Building Cover and Contents Cover. (AI generated image)
Building cover protects the physical structure of your home, including the walls, roof, foundation, and any permanently attached fixtures like plumbing and electrical wiring. (AI generated image)
Contents cover protects personal belongings inside your home such as furniture, appliances, electronics, clothing and other possessions. (AI generated image)
Home buyers and owners should carefully review the terms and conditions of home insurance plans and understand the coverage, inclusions, and exclusions before deciding. (AI generated image)
Meanwhile, in February this year, while addressing the issue of infrastructure insurance against earthquake-induced damage, Union Minister Jitendra Singh informed the Rajya Sabha about the ‘Risk Transfer Mechanism’. This mechanism assesses disaster-related damages and ensures the provision of insurance coverage. (AI generated image)
