Cyclones are powerful natural disasters that leave significant damage to properties in their wake. In our country, where cyclones are not uncommon, it is crucial to ensure adequate insurance coverage to protect your valuable assets.
As cyclone Biparjoy intensifies, states such as Gujarat, Maharashtra, and Goa in the western part of the country have been placed on high alert. The India Meteorological Department (IMD) has issued a red alert for the Saurashtra, Dwarka and Kutch coasts. Altogether, eight states and UTs have been issued a rain warning with 17 NDRF teams being put on standby.
While one has little to no control over the advent of a cyclone and its aftereffects, one can always take steps to safeguard valuable assets. One of the most effective ways to protect one's assets is through insurance.
Home insurance
Home insurance provides coverage for several categories of risks. You can pick a plan based on your preference. One type of policy is the basic variant, which offers protection for your house against fire and other possible factors such as cyclones, floods, and earthquakes. The second layer of home insurance extends the cover of the insurance to include man-made incidents. This may include factors such as theft and burglary as well. Another category includes peripheral risks or damages that may be caused by you or a family member. These three types of coverage can be purchased separately or clubbed together under one comprehensive home insurance policy.
Now, in the context of a cyclone, you must choose an insurance provider that includes natural disasters within its scope.
Car insurance
Car insurance usually falls under the ambit of a comprehensive motor insurance plan. Most plans include extensive protection for your vehicle against damages and losses caused by natural calamities like cyclones, floods, thunderstorms, earthquakes, and more. To further increase the extent of compensation being provided, you can add further add-on covers. These add-ons are particularly important in the context of a cyclone. Cyclones may lead to waterlogging which can affect your vehicle. In order to avoid ambiguity over the extent of coverage, make sure that appropriate add-ons in the form of protection against water logging and protection cover for specific parts of the vehicle are included in your policy.
Before you decide on any insurance coverage, it is important to research and choose a reputable insurer, and carefully evaluate coverage options and the value of property being insured. Additionally, ensure that you understand the extent of compensation being provided, the policy exclusions and deductibles. It is also important to carefully understand the claim process so that there are no delays or issues in the event of a tragedy.
