Knowledge Centre

Earthquake Insurance 

People from all walks of life normally avail life, home and vehicle insurance to stay protected against risks and unforeseen events. Home Insurance on the contrary is considered as unnecessary by many especially Indian households. However, home insurance that covers earthquakes is a must, especially in regions that are prone to these natural calamities. Earthquakes can not only adversely impact the home structure, in some cases it may completely destroy the house/apartment/flat in question depending upon the intensity or the magnitude of the quake..

India is a country that is prone to major earthquakes. The earthquake with epicentre in Bhuj, in 2001,was one of the most devastating earthquakes in the Indian history that jolted western India and parts of northern India. The damage from such an earthquake can cause huge loss of life and property.So, the cost of buying a home insurance with earthquake coverage is significantly less than the costof rebuilding the house in case an earthquake occurs.

Earthquake Zones in India

The 4 seismic zones in India are marked based on the frequency and magnitude of earthquakes that can occur in that area.

  • Zone I - This zone covers the entire north-eastern India, parts of Jammu and Kashmir, Himachal Pradesh, Uttaranchal, Rann of Kutch in Gujarat, parts of North Bihar and Andaman & Nicobar Islands.

  • Zone II - Moderate Damage Risk Zone: This zone covers the remaining parts of Jammu & Kashmir and Himachal Pradesh, Union Territory of Delhi, Sikkim, northern parts of Uttar Pradesh, Bihar and West Bengal, parts of Gujarat, and small portions of Maharashtra near the west coast, and Rajasthan.

  • Zone III : This zone covers Kerala, Goa, Lakshadweep islands, and remaining parts of Uttar Pradesh, Gujarat and West Bengal, parts of Punjab, Rajasthan, Madhya Pradesh, Bihar, Jharkhand, Chhattisgarh, Maharashtra, Orissa, Andhra Pradesh, Tamil Nadu and Karnataka.

  • Zone IV - Very Low Damage Risk Zone: This zone covers the rest of the country.


What's Included?

Fire
Fire

Coverage to the structure and the contents of the house

Valuables
Valuables

Coverge against damage to the valuables inside the house

What's not Included?

Floods
Floods

Damage resulting from any flooding that follows an earthquake is not covered

Deductibles
Deductibles

Any applicable deductibles as per the policy are excluded

Earnings
Earnings

Loss of earnings or indirect damage of any kind is not covered

Fees
Fees

Fees of architects, surveyors or consulting engineers (in excess of 3% claim amount) won’t be covered

Debris
Debris

The policy will not cover debris removal

Rent
Rent

Loss of rent is not covered

Additional Expense
Additional Expense

Additional expenses due to renting of an alternative accommodation are not included

Lapsed Policy
Lapsed Policy

Any damages that occur outside the insurance period are not covered

Causes of Earthquakes

Earthquakes are mainly caused by the sudden release of the stress along the faults in the tectonic plates or the earth’s crust. This pressure builds up due to the movement of tectonic plates and is released in sudden jerky movements, known as an earthquake. The north-eastern region of the country as well as the entire Himalayan belt is susceptible to major earthquakes of magnitude more than 8.0. The main cause of earthquakes in these regions is the movement of the Indian plate towards the Eurasian plate at the rate of about 50 mm per year

Besides the Himalayan region and the Indo-Gangetic plains, even the peninsular India is prone to damaging earthquakes. More than 50% of India’s area is susceptible to dangerous earthquakes, as per historical reports. An earthquake with intensity greater than 6.0 on the Richter scale is considered to be an intense one, which can damage life and property to a great extent.

Why HDFC ERGO?

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Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.
Why HDFC ERGO?

All the support you need 24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.
Why HDFC ERGO?

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements seamlessly, by providing wide range of plans and add on covers for every portfolio.
Why HDFC ERGO?

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.
Why HDFC ERGO?

Awards

We have received the Best Customer Experience Award of the Year and excellence in financial reporting for the year 2016.
Why HDFC ERGO?

Secured 1 Crore+ Smiles

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.

All the support you need-24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements seamlessly, by providing wide range of plans and add on covers for every portfolio.

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.

Awards

We have received the Best Customer Experience Award of the Year and excellence in financial reporting for the year 2016.

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Frequently asked questions

The owner of the property with insurable interest can take the home insurance, and by adding the required premium for the coverage of earthquakes, the home insurance can be made more comprehensive
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