Delhi-NCR Earthquake tremors are coming again and again. Even today, there was a strong tremor of earthj in Delhi. The earth trembled at around 5:35 am. Earthquake tremors were felt for several seconds. The tremors of the earthquake were so powerful that many houses began to shake completely. CCTV footage has found evidence of this. However, this is not the first time. There are many devastating earthquakes recorded in history, which has damaged millions of houses and a large number of life and property. Let us tell you that Delhi-NCR comes in the Seismic Zone IV, which is considered to be an area of high seismic danger. In such a situation, if you are living here, then there will be a danger of earthquake. We cannot avoid this danger but we can definitely prepare. By purchasing insurance cover to compensate for the damage to the house from the earthquake. Today we are telling you who to buy insurance for the safety of the house from the earthquake.
Cover under home insurance
Earthquake Insurance is taken to cover the damage caused by earthquake. There is no separate policy for earthquake but it is covered in home insurance. On taking home insurance, it gives the policy holder a cover compensation when his house is damaged by the earthquake. Earthquake insurance policy provides coverage to your home in case of both partial and complete damage/damage.
Why insurance is necessary?
- The earthquake is unexpected – it is impossible to predict.
- Large financial loss – The cost of repair and reconstruction can be very high in the collapse or loss of the house.
What is the cover?
- Home structure – If earthquake causes damage to house walls, roof, foundation, floor etc.
- Home internal accessories – such as furniture, electronics, household items.
- Rehabilitation expenses – If the house is not habitable then the cost of rent.
Policy period and premium
The premium of home insurance depends on many factors, such as the type of property, location, insurance amount, and whether you are also incorporating earthquake covers. The duration of the home insurance policy can be 1 year, 5 years or 10 years. Talking about the premium, for a house of ₹ 50 lakh: You may have to pay a premium ₹ 2,500 to ₹ 4,500 per year. At the same time, the annual premium for a house of ₹ 1 crore can range from ₹ 5,000 to ₹ 8,000 per year.
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