Monsoon and Insurance Cover: Monsoon gives us relief from the heat and makes the surroundings around us green and happy. But during the monsoon season, it is also important to be vigilant about your health as well as the safety of your home and vehicle. Health hazard because bacteria born from rain can affect your health badly. Serious diseases such as malaria, dengue, cholera and leptospirosis are the most common health problems arising in this season.
At the same time, in the case of vehicles and houses, in the monsoon, we need to be ready with the plans for the maintenance of our vehicles and houses. In the event of excessive rains or floods, they are prone to major losses. For an average middle-class person, investment, thinking and emotional attachment to their home and vehicle are paramount. Therefore, it is also important to maintain them during the rainy season.
The damage to health, house and vehicle creates mental stress because the burden on the pocket is incurred in the treatment and compensation, which worsens the budget. One option to avoid this may be insurance. Yes, a good insurance cover for health, home and vehicle with thoughtfulness can reduce your tension to a great extent on the expenses incurred to compensate them for their losses.
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Health insurance is compulsory as it helps in dealing with any unfortunate event that happens anywhere and anytime. Protects you financially for medical emergencies. These tips can be useful in choosing a health insurance plan wisely…
- It is prudent to choose a plan that is suitable for your medical needs. The 2 most important things to be watched carefully are- The plan should be such that the sum insured (it depends on your living space) is sufficient and it gives cover to the whole family.
- Even if you are working and you have health insurance cover provided by the employer, you are still advised to get separate health insurance, because of any reason when you are no longer an employee of that organization, So that coverage found under corporate health policies ceases. Also, take care to ensure that the policies are renewed on time so that your cover continues.
- Choose a plan that offers cashless benefits, pre-hospitalization and post-discharge coverage. This will help to bear the huge expenses of hospitalization. All the health plans provide this facility only when the insured gets treatment in the hospitals included in their network.
- You should always choose the supplier whose claim settlement ratio is good. So the larger this ratio, the greater the chances of successful claim settlement.
Some tips for health care during monsoon:
– During the monsoon be cautious about your food and drink.
Take care of personal hygiene, try to keep yourself, your clothes and shoes dry. You can keep a separate pair of clothes and shoes to wear during work.
– Increase your immunity by consuming healthy food with rich vitamin C.
– If completely wet, take a bath with hot water to avoid viruses causing flu.
– Take measures to prevent mosquitoes.
During the monsoon, vehicle breakdowns occur on a large scale, due to which heavy expenses can be incurred and headaches increase. Although third-party liability motor insurance is legally mandated, insurance companies also offer comprehensive policies that cover the risks to your vehicle due to theft and floods or accidents. There are many ways available to secure your vehicle on the basis of a comprehensive insurance plan.
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- Know your coverage needs: Customize your policy with the add-ons available for the things you want to cover.
- Understand the insured declare value: IDV is the current market price of the vehicle. This is the sum insured, which is determined during the purchase of the policy in case of theft or damage to the vehicle. The IDV is the most important factor to keep in mind when purchasing any vehicle insurance, as the value of the vehicle will decrease as the vehicle gets older and the IDV will decrease. Consequently, the premium will also increase on a year-on-year basis. Try to equalize the IDV according to the market price.
- Do thorough research: Before purchasing any insurance policy for your vehicle, do thorough research about the available options and the benefits you can get.
Some tips for vehicle care during monsoon:
Safety should be arranged to deal with moist climate and anti-rust protection layer should be installed on the metal frame.
– Avoid parking in the open. Look for covered parking spots. Do not park vehicles under trees.
– Since rainwater can damage the electrical components in your vehicle and cause long term problems, it is always advisable to keep checking electrical wiring and batteries.
– In the absence of a covered parking lot, keep a waterproof vehicle cover with you and be prepared to deal with this situation.
– Check the headlight of your vehicle properly, because poor visibility becomes a big problem while driving in the rain.
– Check wipers and replace them if necessary.
Home is one of the most important financial investments we make. We invest our lifetime savings in it or pay big EMIs. Despite this, home insurance has been adopted very little in India. Any damage to your home can cause heavy damage. A comprehensive home insurance plan offers protection against flood damage; It not only protects your house but also protects its belongings. Home insurance covers damage to property or belongings due to unfortunate incidents like fire, flood or burglary. Keep these things in mind while taking an insurance policy for the home.
Coverage and Risk: Assess the risks that your house poses a threat or the risks that the house may have to face in the future. Consider all the possibilities and after that decide the coverage of the house in view of all the factors.
Full protection: Take the same plan that gives complete protection to your house from theft, fire and electrical and mechanical equipment malfunctions. It is better to choose a package policy that not only offers comprehensive coverage but is also cheaper than buying individual policies. Along with this, you can also consider options to buy long-term cover of 3 to 5 years, where you can also be offered some discount in premium.
Some tips for home care during monsoon:
– You should examine your roof or thatch closely and get every break repaired before the onset of monsoon. Roofs and terraces are the most affected during the rainy season, they should be coated on to prevent leakage. Weak walls
Close all cracks and leaks.
– Protect doors and windows from fungus and rust. Keep checking all the loose occupations and empty spaces of doors and windows.
– Monitor the water and sewage system around your house and contact local authorities to find out all possible obstructions and leaks.
– There is also an increased risk of death due to electric shock during monsoon, check the entire electrical fitting properly, if you find any wire loose then wire to reduce the risk of moisture getting inside the sockets. Tighten it immediately.
– In case of emergencies due to heavy rains, keep all the basic and important things stored in the house.
Article By: Subramanyam Brahmajoysula, Head, Underwriting & Reinsurance, SBI General Insurance