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Does Home Insurance Cover Natural Disasters?

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The mere mention of the words “flood”, “earthquake” or “tsunami” evokes in people strong images of devastation, destruction and despair, reminding people that we can be reduced to nothing in the face of Mother Nature’s sheer power. The unpredictability, scale and consequent damages of natural disasters have always posed a threat to lives.

Why insure your home against natural disasters?

It is a common misconception that natural disasters are rare. People when looking at news of such incidents tend to think “That’s horrible! Thank God we are safe” and soon after, forget that it could have been their house, neighbourhood or city. So, it becomes easy for people to dismiss the risk and not get home insurance for natural disaster.

In the event of not having home insurance cover for natural disasters, you run the risk of raking up lakhs together in property damage during floods, earthquakes, storms and lightning strikes. People without home insurance have ended up losing everything they have during such events, forcing them to go through the hard task of rebuilding their lives. So, it is a wise thing to purchase home insurance that protects them from losses from a natural disaster, so that the insurance company will reimburse the losses and damages incurred during such events.

Plans that cover natural disasters & coverage details

It is important to choose a plan that provides protection against possible natural disasters in your location. If you live in an earthquake prone area, you have to ensure that earthquake cover is explicitly listed in the policy coverage since some insurance companies do not offer cover against earthquakes by default.

HDFC ERGO offers two options for you to choose from when it comes to protecting your home from all possible natural disasters:

• Standard Fire & Special Perils Policy: This policy covers risks against fire, flood, earthquake, lighting, explosion, inundation, storm, riot and strike. Terrorism is optionally covered for a nominal premium. This policy covers damage to both the structure and contents of your home.

  To protect your cherished homes from natural disasters, this policy will do the trick. However, it does not cover losses or damages due to theft, burglary or larceny. That can be covered under Comprehensive home insurance plan.

• Comprehensive Home Insurance Plan:This policy apart from covers risks posed by natural disasters such as flood, earthquake, lighting, inundation, storm in addition to Fire, riots, strikes etc. In addition it also provides a comprehensive solution for all risks arising out of burglary, larceny and theft. This policy also covers damages to both the structure and content of your home. 

  Please note that damages due to wilful negligence/misconduct, pollution, contamination, wear and tear and nuclear perils will not be covered.

Benefits of choosing HDFC ERGO

You can do little to avert the risk of a natural disaster and so preparedness is the best strategy. You need to ensure that your beloved home is provided the right home insurance against natural disasters. HDFC ERGO offers some of the best plans in the business and stands out due to the following features:

• Discounts up to 50%

• Instant Policy Documentation

• Provision for sum insured increase by 10% at the end of every year

• Simplified Claim procedures

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Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.