Nepal earthquake rings the alarm! Don’t just ensure your life but your home too
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Calamities and misfortunes are often considered as warning bells for many. The devastating As per a news report by The Economic Times, enquiries about home
"There is a spike in demand and this will stay for a short time," Tapan Singhel, managing director and CEO of
2011 census report confirmed, India had 33 crore homes, of which only half are of 'pukka' construction, or permanent in nature.
There is huge potential in the segment, with average premiums going up to as much as Rs 3 lakh, according to industry estimates. "Suddenly there is a spike in enquires, but conversion into a sale is hampered due to lack of widespread distribution," Sanjay Datta, head of underwriting at
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Due to lack of awareness, companies are unable to capture demand. Experts believe, this may change following the devastation in Nepal.
Industry executives said that those residing in seismic zones need to buy home insurance to protect themselves.
Policies pay for damage to property and contents due to natural or man-made calamities, including earthquakes. Rates vary from 70 paise to Rs 1 per cover of Rs 1,000, depending on the area and the frequency. Many banks and
(Image: reuters)
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