Individuals take so much pain in building their dream home and decorating with expensive items, but fail to take insurance for the same.
As one spends huge amount on the home and other necessary things insuring the same will only help you stay peacefully.
With the recent Chennai floods which has shocked us, one needs to be prepared to face such calamities and its aftermath.
Some insurance not only covers earthquake, tsunami and floods but also the contents in the home. So before buying a home insurance policy one needs to check various aspects.
While looking for home loan, banks do not offer the insurance on your home, however, one needs to make extra effort on what needs to be included or any add on are needed.
If the general home insurance does not cover the contents in the home, you need to make a separate policy.
Insurance Against Natural Disaster
Fire, earthquake, flood, cyclone, storm, landslide can be some of the natural disasters.
Here are some insurance companies which provide insurances against natural calamities.
ICICI Lombard's Home Insurance
ICICI Lombard's Home Insurance, comprehensive cover, covers both structure and contents of your home. It also provides cover against Fire and allied perils, Burglary & Theft.
Optional cover for Terrorism and Additional expenses of rent for alternative accommodation.
Content Insurance includes Clothes, kitchen appliances, electronic gadgets, furniture, jewelery, paintings, etc. Any article that you would take while shifting your residence should be covered under the Contents Policy.
The policy excludes, acts of war and nuclear accidents, willful destruction of property, weather-related damage to exposed wood such as fences.
HDFC Ergo's Home Insurance
This policy covers fire, lightning, explosion and implosion, storm, cyclone, typhoon, tempest, hurricane, tornado, flood and inundation, earthquake, volcanic eruption and other convulsions of nature.
HDFC Ergo's Standard Fire and Special Perils covers fire, lightning, explosion, storm, tempest, flood, inundation group of perils.
FIR is mandatory in case of malicious damage, riot and strike, terrorism, burglary and theft.
Tata AIG's Standard Fire and Special Perils
Under this insurance, the perils insured are fire, lightning, explosion or implosion, impact damage, aircraft impact, bursting, overflowing of water tanks, storm, cyclone, typhoon, hurricane, tempest, tornado, flood, inundation, subsidence, landslide, riots, strikes, malicious damage, missile testing operations.
Additionally, there are options to insure Earthquake and Terrorism risks and a host of other add-on covers.
Bharti AXA's Standard Fire and Special Perils
It covers fire, lightning, riot, strike and Malicious Damage, Explosion or Implosion.
Loss, destruction or damage caused by war, invasion, act of foreign enemy hostilities or war like operations, civil war, mutiny are not covered.