How Does a Natural Disaster Affect You?
Loss of property and financial stress are the two types of major consequences that homeowners usually face due to an attack by a natural disaster. However, awareness, preparedness, and prediction lower the disruptive impacts of natural disasters on human lives.
The article compiles the significance of a home insurance policy in case an unfortunate earthquake, cyclone, or flood strikes.
How a Home Insurance Policy Protects Your Property During a Natural Calamity?
Here are some common home insurance policy inclusions you can avail during a natural calamity-
Damages or loss of property arising out of natural calamities
An attack by a natural calamity can damage your home structure and its content. If you live in a high-damage seismic zone, it means you are prone to earthquakes. However, if your house is in a coastal area, you are more likely to face a cyclone or flood. Therefore, having the right property insurance will give you a sense of safety because the insurer pays for property damages and its repair.
Damages arising due to the breakdown of an electrical system
Electrical systems and appliances play a vital role in making our lives easy. Our house is full of electrical appliances such as fans, coolers, air conditioners, heaters, geysers, mixer grinders, induction cookers, vacuum cleaners, washing machines, etc.
For any reason, if they fail to work or break down during a natural disaster, probably you have to shell out a considerable amount of money to buy another appliance. However, if you have home insurance, you will get coverage against such loss caused by faulty appliances during a natural calamity.
Damages arising out of fire outbreak
Do you know the average temperature of a house fire burns at 600° Celsius? A fire outbreak in a natural calamity can cause concrete surface cracking, chemical decomposition, and spalling. Electric fires, gas leakage, electric fires, etc., are some of the primary causes of house fires during a disaster. However, if you have a house insurance policy it will cover the cost of repairing due to fire damages.
5 Tips to Keep Yourself Safe during a Natural Calamity
Earthquakes, floods, cyclones, and other natural hazards cause thousands of death and injuries and a heavy loss to our economy. To keep you safe in a natural calamity, here are some preventive steps discussed to reduce the loss or damage to your home & be safe-
- Evacuate yourself to a higher ground level.
- Ensure your home has an adequate drainage system.
- Make sure you have followed the highest possible EQ-resistant standards while building your home.
- Ensure you have activated your alerts and follow the instructions given by the local authorities and government.
- Get the right home insurance policy to cover your home, all its valuable content, and several kinds of perils during a natural disaster. However, make sure you must evaluate the home content and the current market value of your house to get the right compensation amount.
You can also use the free online home insurance calculator offered by Policybazaar.com. Here you can find an estimated premium amount payable to insure your house.
In a Nutshell
Keep yourself and your home safe during any type of natural calamities. Moreover, check the standard home insurance inclusions before buying it to know what is insurer is offering to you.You can also check for add-on covers that will enhance your policy coverage.
Written By: PolicyBazaar - Updated: 13 January 2023