Natural calamities like earthquake strike without warning, claiming lives in thousands and causing massive property damage. Rebuilding a home can be a huge financial burden for many. With HDFC ERGO Home Insurance plans stay secured from such unpredictable events and recover from losses in your time of need.
Earthquake insurance is a component of home insurance that provides financial aid to help you rebuild your home or property from the damages caused due to an earthquake.
According to statistics, around 60% of the Indian
population resides in areas prone to earthquakes. While one cannot predict when an earthquake can hit a country, all you can do is secure your home with the assurance of home insurance.
In the event of an earthquake,
the damage to the property can be minor, major or, at times, beyond repair. It can also cause considerable damage to both structure and content of your property. Hence, it puts a tremendous financial strain to reconstruct
the home and acquire the valuables or contents damaged. Earthquake insurance, in such times, can help with financial aid to rebuild the structure and repay for the losses of its contents.
The 4 seismic zones in India are marked based on the frequency and magnitude of earthquakes that can occur in that area.
Coverage to the structure and the contents of the house
Coverge against damage to the valuables inside the house
Did you know that 68% of India’s land is prone to drought, 60% to earthquakes, 12% to flood, and 8% to cyclones? You can’t predict natural calamities; but you can protect your possessions against earthquake, flood, storm, hurricane, etc.
Damage resulting from any flooding that follows an earthquake is not covered
Any applicable deductibles as per the policy are excluded
Loss of earnings or indirect damage of any kind is not covered
Fees of architects, surveyors or consulting engineers (in excess of 3% claim amount) won’t be covered
The policy will not cover debris removal
Loss of rent is not covered
Additional expenses due to renting of an alternative accommodation are not included
Any damages that occur outside the insurance period are not covered
Earthquakes are mainly caused by the sudden release of the stress along the faults in the tectonic plates or the earth’s crust. This pressure builds up due to the movement of tectonic plates and is released in sudden jerky movements, known as an earthquake. The north-eastern region of the country as well as the entire Himalayan belt is susceptible to major earthquakes of magnitude more than 8.0. The main cause of earthquakes in these regions is the movement of the Indian plate towards the Eurasian plate at the rate of about 50 mm per year
Besides the Himalayan region and the Indo-Gangetic plains, even the peninsular India is prone to damaging earthquakes. More than 50% of India’s area is susceptible to dangerous earthquakes, as per historical reports. An earthquake with intensity greater than 6.0 on the Richter scale is considered to be an intense one, which can damage life and property to a great extent.
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Seamless & Superfast Claim Settlement
Excellent. I highly recommend this policy for your home
AJAJ CHANDSO DESAI
HOME INSURANCE POLICY
Good. Happy with the service, process and home insurance policy. Thank you HDFC ERGO t
CHANDRAN CHITRA
HOME SHIELD (GROUP)
Good service. Impressed with the quick turnaround time for my queries and requests. Would definitely recommend this!
LOGANATHAN P
HOME SHIELD INSURANCE
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