After the sweltering heat of the summer months, the arrival of the monsoon comes across as a great relief. That said, the rain also brings along its own set of hazards.
The monsoon could prove to be very ugly for your home – right from seepage and flooding to collapse in the event of a torrential rain or mudslide. Get the right home insurance policy to be better prepared for the unforeseen risks.
After the sweltering heat of the summer months, the arrival of the monsoon comes across as a great relief. That said, the rain also brings along its own set of hazards.
Heavy rainfall causes damage to homes, sometimes by way of floods, landslides, mudslides, or even seepage. A seepage would probably only damage your floor walls and furnishings, but floods and landslides can cause even greater damage, to the extent of even washing away your home.
That said, there is as such no specific home insurance policy that covers monsoon or flood-related damage. They all come under the regular home insurance policy, which covers damage to your house and household items as a result of flood, short circuit, fire, rioting and so on, and provides cover to your home, including among others, to furniture, structural, water leakage, valuables, restoration, replacement, fire damages and electrical and mechanical breakdown in your house.
So, if you don’t have a home insurance policy, getting one now with the monsoon having just arrived would be a good idea, for it would not only cover damages or losses caused by floods or natural calamities, but also provide coverage for damage caused by theft, burglary, strikes, riots, vandalism, and other such unfortunate events.
How The Right Home Insurance Can Help You Save Costs
A home insurance policy can help you in these following cases.
A replacement for your loss: In case your property faces damage, you can make a claim for a replacement, depending on the type of home insurance you have purchased.
Protection against natural disasters: If your home suffers damage as a result of some natural disaster, a home insurance policy can help you rebuild your home with the sum insured as mentioned in the policy document.
Smart investment: A good home insurance plan is a smart investment strategy, too. It could provide you with the right return in terms of finances in the long run in case of house damage. Also, the premiums happen to be very cost-effective, and also provides adequate cover to protect your home.
Ways To Choose The Right Home Insurance Policy
There are few aspects you should look into before deciding to buy the right home insurance policy.
Provides Maximum Coverage: The right home insurance policy will cover the maximum causes that damage property. It’s important to select a policy that gives entire protection to your home, with adds-ons, such as fire, burglary, protection against portable gadgets and electronics, such as camera, musical equipment, laptop, sports equipment, among others. Some also provide protection to jewellery kept in the house.
Assessment Of Risks: Carefully assess the underlying risks in the areas you are staying. If you are staying in an area that is prone to burglary or flood, then you must ensure that your home insurance policy covers those risks.
There should also be separate sub-limits for burglary and housebreaking protection, and for fire and allied dangers.
Good home insurance policies will also provide assistance for gadgets, repairs, plumbing, carpentry, and pest control. Such assistance is usually provided free or at nominal costs, and they can be used many times in a year without making a claim. The premium is typically paid at the beginning of the year for a standard fire policy. It’s the same for a long-term policy. The amount is usually very nominal compared to the total value of the property covered.