We have seen it first with the Nepal earthquake and now with the Chennai floods. Natural Calamities can strike anytime. It is always suggested to buy property insurance to secure you and your family from any future risks.
Natural calamity insurance is not so popular among Indians in spite of facing many earthquakes, floods and cyclones.
Natural calamities insurance are generally covered under property insurance or home insurance. One need to check whether the insurer is providing the same or not.
If required one can also insure higher amount by paying higher premiums.
Tips to know when considering insurance which covers natural calamities:
- Check whether your insurance company covers floods, earthquake, tsunami, and other natural disasters. If not, ask your insurance company to include them.
- Note what is excluded and included in your insurance policy carefully. As not all the natural calamities may not be covered.
- Well, if you are asking for additional insurance on your home and valuables, you may need to shed more amount on premiums.
- Make sure you confirm about the natural calamities with your insurance agent before buying an insurance.
- It is always better to store your property documents, insurance in a bank locker.
- With the help of technology one can save a scanned copy of documents. However, in most of the cases originals are required.
- If possible take necessary images when your place is damaged by earthquake, tsunami or floods. This can help you when claiming amount.
- Make a note of all valuable items which needs to be claimed, if possible support them with receipt.
- Choose the insurance which particularly covers the calamity which your area is prone to.