Insurance companies/types Health, Home/earthquake crop etc..
insurance is definition
disaster insurance is back The term disaster here implies “loss due to natural calamity” such as floods, earthquake, cyclone etc. The disaster is an external factor, an accident by God. Like an accident, it can cause damage to property, loss of life or disablement. In this analogy, disaster needs to be provided for and covered like the accident. Disaster Insurance is nothing but the provision of risk cover against natural disaster and its implication on property and life.
Policies that include Disaster Insurance
There are three types of policies that consider disaster cover due to nature of insurance. Some companies might bring it as add-ons while others make it inbuilt. While the insurance companies try and provide for disaster cover in relevant policies, it is also the duty of the insured to check whether the same is included in his policy or not. The residents who are exposed to greater risk of natural disaster must consider insurance covers to win the better chance of security and preparation.
earthquake insurance also comes with disaster insurance including below health and home insurance, however, in India, only northern states affect like Delhi. earthquake insurance necessary for countries like JAPAN.
Home disaster Insurance
Most of the home insurance policies are taken to cover the risk of Fire, Accidents, and Theft. The risk cover against natural disasters such as Earthquake, Floods or Storm is available as add-on features. It is advised to secure your home or property against any such disasters to take maximum benefit of insurance. In order to cover maximum risk factors, the insurance companies have devised Householder’s Package Policy that ensures that the property insured is secured against the risk of earthquake, floods, landslide, riot and terrorist act in addition to regular fire cover. The risk arising from third party liability and workmen’s c compensation liability are also available as optional features of the policy.
Personal Accident Disaster Insurance
Personal Accident Insurance is among the common insurance policies that cover damage or loss of life against accident. The risk cover includes four vital factors, namely, a) death b) permanent disablement c) permanent partial disablement and d) temporary total disablement. The compensation is highest in case of first two, up to 100%. Talking about disaster insurance, we mean to include the component disaster in as many insurance covers as possible. The people who live in high seismic zone or high flood prone area, their chances of getting affected by calamity are much higher. Therefore, it is recommended to cover their life risk in all the possible ways so that they and their families remain secured in face of adversities.
Life health disaster insurance
Life Insurance is one of the best risk covers to compensate for a loss of time or life. A basic Term Life Insurance provides maximum cover for the lowest premium amount. The policy is designed to cover death under all circumstances, such as disease and ailments, natural disaster and calamity, accident etc. The purpose of Life Insurance Policy is to provide for expenses and security even when the insured is gone. It is more advised for individuals who are exposed to the risk of life more often, such as, defense personnel, mine workers, etc. There are several other policies designed considering age factor, nature of the occupation, medical history etc. to cover maximum risk possible so that in case of any mishappening, the family of the insured is taken care of.
disaster insurance companies in India
New India and LIC only maybe.