Flood damage insurance: Will it cover rain and flood damage? CHECK details

Heavy rains and floods are causing severe damage to homes across the country. The losses suffered by ordinary people during such disasters can cause them great hardship. Insurance can be a solution to protect homes from the risk of heavy rains and floods caused by climate change.

Whether you are a homeowner or a building owner, such as a commercial complex, if you have the right insurance, you will get the necessary relief in case of damage caused by disasters. Although there is no specific flood insurance policy for this, it is included as a feature in insurance plans.

Flood insurance is available through Standard Fire & Special Perils Policy and Householders Insurance Policy. It covers damage caused by floods, storms, riots and other events. These policies can be taken out by individuals as well as companies. In addition, Bharat Udyam Suraksha Policy, Bharat Laghu Udyam Suraksha and Bharat Griha Raksha Policy provide compensation for damage caused by natural calamities under the category of STFI.

STFI is a feature that compensates for fire accidents and natural disaster losses such as storms and floods. This insurance focuses specifically on fire protection. The inclusion of the STFI feature ensures coverage for other unforeseen disasters.

Comprehensive insurance is essential to protect commercial properties such as shops, offices and industrial units. Rain and flood damage coverage can be added to property insurance plans. This will provide protection against flood-related damage and water stagnation.

Homeowners can take out the Bharat Griha Raksha Policy. This is a home insurance plan that provides coverage for up to 10 years. This will provide protection for the building and the belongings in it. Insurance for appliances is automatically available for homes under government schemes.

These home protection policies protect against various hazards including floods, storms and cyclones. It is noteworthy that it covers many aspects from structural damage and water damage to repainting.

There are various insurance plans with flood protection. Standard Fire & Special Perils Policy provides protection for commercial buildings, equipment and inventory. Shopkeepers Insurance Policy is designed for small businesses. This policy covers property and stock through a flood insurance add-on.

Office Package Policy provides flood protection coverage for office premises and equipment. Industrial All-Risk Policy provides comprehensive coverage for industries, including flood-related damages.