I have a standard fire policy of my house. A portion of it is vulnerable to tremors and earthquake. In case of damage due to earthquake – will the policy cover for it?
The standard fire and special perils policy does not automatically cover the risk of earthquake
I have a standard fire policy of my house. A portion of it is vulnerable to tremors and earthquake. In case of damage due to earthquake – will the policy cover for it?
Sudhir Chandel, Jaipur
The standard fire and special perils policy does not automatically cover the risk of earthquake. This risk can, however, be added to the same policy for an additional payment.
You need to check your policy papers to confirm if you had paid an extra premium to get coverage against earthquake. If you aren’t already insured, just ask your present insurers to include the risk of earthquake in your existing policy. They will calculate the additional payment to be made. Once you have paid for the additional premium, you will be covered against the risk of earthquake for the rest of the policy period.