Home Insurance During Floods

Most policies provide protection against damage to the property caused by the flowing of flood water into the house. There are a number of policies available that you can select to find the one that is most suitable.

Advantages of opting for home insurance policy in the case of floods:

In the Indian context, the insurer stands at an advantageous position since he will receive compensation for the property that has been damaged by rain/flood etc. Under a flood insurance policy, you can also get a cover for personal belongings. Anyone in such a scenario will not be required to pay for the replacement of all his belongings. Victims of flood would be required to pay a minimal amount on account of the deductibles. The details of deductibles would have been decided right at the time that the policy was obtained.

Your property can be protected under a number of flooding events like:

• River floods- River or fluvial flood is caused when excess water accumulates exceeding the capacity of the river. Damage can be widespread as this overflowing spreads to the nearby areas.
• Surface floods- Excessive rainfall leads to flooding any area and this might occur independent of a nearby water body.   
• Coastal floods- Coastal or surge floods are caused when there is an extreme tidal condition. The nearby coastal areas get inundated with water causing damage to life and property along the coast and even the interiors.

Home Insurance can be procured in the case for different types of natural calamities or flooding events. Unprecedented rainfall remains the most important one though overflowing of water bodies, melting snow and clogging of storm drains too can be grounds on which insurance can be obtained. Flood insurance policies are quite inexpensive in India. It is therefore is a major advantage and one should buy to provide protection against such unprecedented natural calamities.

What to keep in mind while claiming?

•  It is very important to keep the damages incurred well documented. The best way is to take photographs and keep. In fact, videos too serve the purpose.
• Try and preserve all damaged items as the claim representative might want to take a look at the exact damage.
• All claim-related documents for example receipts and bills need to be saved properly.
• Always maintain a list of the items that you have repaired for using them temporarily.