1. Home
2. Blogs

Here’s Why Building Collapses & How to Back it up with Home Insurance

• 
• 
• 
• 0
• 0

Building collapses do not come with a warning, and they can be devastating. These collapses can sometimes lead to hurting people and even turn into multiple casualties and deaths. Needless to say, financial loss is inevitable. As per the data by the Brihanmumbai Municipal Corporation (BMC) disaster management department, there have been 1,810 incidents of buildings and houses in 4 years. Around 99 people died in these incidences, and 376 people were injured between 2018 and 2021. One way you can avoid getting your years of income drained out in a fraction of seconds is by having property insurance. With HDFC ERGO home insurance cover, you can secure your residence from losses that might incur due to earthquakes, floods, landslides and other unfortunate events.

Reasons behind Building & House Collapses

• If the building or the house is older than 70-80 years and the material used crumbles, then there are high chances of that building collapsing.

• If the building has been constructed illegally without following the safety measures during construction.

• If the builder has used lower-quality construction material, the building becomes prone to collapse.

• Sometimes construction firms do not hire skilled and trained labourers who are not familiar with construction techniques; this would lead to a poor building or house structure, making it prone to collapse.

• Not just a poorly built building but also the best ones can collapse because of earthquakes & floods.

Ways to Handle Building Collapse

• Building collapses can be curbed if the builders make sure to use good quality material and monitor these issues during the construction.

• Suppose the building collapses due to natural calamities such as earthquakes or floods. To tackle such scenarios, here are a few points you can note down.

• If you notice a building collapsing, you should get out of the building as quickly as possible.

• If a part of a building has collapsed, it is advised to get out in an open space to avoid injury.

• Be aware that there is no gas leak in the building. Be aware of any electrical hazard due to the damage caused to the building.

• Make sure that everybody in the building is out and avoid using elevators.

Home Insurance as Back-up

Natural calamities like floods and earthquakes can lead to building collapses within a short period, and it can cause major damage to the home and its content. Such a situation is not under our control; however, what’s in our control is to protect against the potential loss of your home and its belongings with a home insurance policy.

HDFC ERGO Home Insurance Policy

Here are few beneficial features which can help during building collapses:

1. Alternate Accommodation -

When your home is uninhabitable due to an insured peril, we are there to help. Our alternate accommodation cover ensures you have a temporary place to stay comfortable until your house is ready for accommodation.

2. Loss of Rent -

With HDFC ERGO loss of rent cover, you get coverage for financial losses that occur due to your home being damaged due to an insured peril. Suppose you earn income from that home through rent and it becomes uninhabitable due to floods or earthquakes; we provide you coverage for such losses.

Conclusion

Home is a place which is very close to your heart, and it can get damaged at any given time due to unfortunate events. Your residence can be damaged by building collapses, fire incidents, or earthquakes, leading to financial losses. Hence, to avoid damages, it is wise to have property insurance and also know about measures that an individual should take during building collapses or any unforeseen incidences. With HDFC ERGO home insurance, you can cover home structure up to Rs 10 crore.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

RELATED ARTICLES

Ways to prevent your house from collapsing

8 Best Tips to Maintain Your Property Value

Here’s How Investing in Residential Property Helps Save Tax

---

• 
• 
• 
•