• Building collapses occur without warning and can be catastrophic. Such incidents might result in injuries and can even lead to multiple casualties and fatalities. Unsurprisingly, financial losses are unavoidable. According to data from the Brihanmumbai Municipal Corporation (BMC) disaster management department, there were 1,810 cases of building and house collapses over a span of 4 years. Between 2018 and 2021, around 99 individuals lost their lives in these events, while 376 sustained injuries. One way to prevent losing years of income in mere moments is by obtaining property insurance. With HDFC ERGO home insurance coverage, you can protect your home from losses caused by earthquakes, floods, landslides, and other unfortunate circumstances.

Reasons behind Building and House Collapses

• Buildings or houses older than 70-80 years may be at high risk of collapse if the materials used have deteriorated.
• Buildings constructed illegally without adhering to safety protocols during construction are at risk.
• Buildings may be susceptible to collapse if the builder has utilized substandard construction materials.
• Occasionally, construction firms fail to hire skilled and trained laborers knowledgeable in construction techniques, which may result in a structurally unsound building or house that is likely to collapse.
• Even well-constructed buildings can collapse due to natural disasters like earthquakes and floods.

Ways to Handle Building Collapse

• Builder vigilance in using high-quality materials and monitoring issues during construction can help mitigate building collapses.
• In case of building collapse triggered by natural disasters such as earthquakes or floods, consider the following points.
• If you witness a building collapsing, evacuate the building as quickly as possible.
• If part of a building has fallen, it’s advisable to move to an open area to avoid potential injury.
• Remain alert for any gas leaks in the building and be conscious of any electrical hazards resulting from the damage.
• Ensure that everyone inside the building has evacuated and refrain from using elevators.

• Home Insurance as Back-up
• Natural disasters like floods and earthquakes can lead to rapid building collapses, causing significant harm to homes and their contents. While such situations are beyond our control, it is possible to safeguard against the potential loss of your home and belongings with a home insurance policy.

HDFC ERGO Home Insurance Policy
Here are some advantageous features that can assist during building collapses:

1. Alternate Accommodation –
   If your home is uninhabitable due to an insured peril, we are ready to assist. Our alternate accommodation coverage ensures you have a temporary and comfortable place to stay until your home is ready for occupancy.
   
2. Loss of Rent –
   With HDFC ERGO loss of rent coverage, you receive protection for financial losses that arise when your home is harmed by an insured event. If you generate rental income from that home and it becomes unlivable due to floods or earthquakes, we offer coverage for such financial losses.

• Conclusion
• Home is a space that holds great significance to you, and it may sustain damage at any time due to unfortunate occurrences. Your dwelling can be affected by building collapses, fire accidents, or earthquakes, resulting in financial repercussions. Therefore, to prevent losses, it is prudent to obtain property insurance and also understand the precautions that one should take during building collapses or any unexpected events. With HDFC ERGO home insurance, you can insure your home structure up to Rs 10 crore.

• Disclaimer:
• The information above is for demonstration purposes only. For additional information, kindly refer to policy wordings and prospectus before finalizing the sales.