• Your property or your home will use up a significant portion of your savings. In addition to providing safety for you and your family, your property will also safeguard most of your belongings and valuables. Although many more individuals have acquired homes in recent times, an insufficient number of them have property insurance coverage.
• Comprehending the importance of homeowner’s insurance becomes clear when an unfortunate event occurs. If your home is damaged by a natural disaster or man-made incident like an earthquake, flood, fire, or vandalism, you are financially safeguarded by a property insurance policy. Generally, it is advisable to obtain property insurance so that you can feel at ease when unfortunate events, whether due to environmental changes or vandalism, take place.
• The monsoon season has begun, and people are finding comfort in the rains. However, the rains also bring a unique set of hazards. Intense rainfall can lead to property destruction through mudslides, seepages, floods, and landslides. Property insurance is essential to minimize losses caused by floods. Adequate property insurance should provide protection against floods and other property-related damages such as riots, vandalism, burglary, strikes, theft, etc.
  
• Benefits of Property Insurance Policy
• Loss or damage of valuables and personal property is covered in the event they are lost or harmed. Insurance companies often provide advice on how to prevent aspects from being lost or damaged in an insured residence. Insurance will assist you in protecting your property and additional valuables like jewelry, furniture, etc.

1. The price of a house
   If your property sustains damage, you will need to rent another property for yourself and your family. Furthermore, if the property is being rented out, you will lose the rental income. If you have property insurance, you will be covered for rent or rental losses, as applicable. Thus, you can still enjoy the benefits of your property, even if it experiences damage.
   
2. Liability security
   Most homeowner’s insurance policies come equipped with liability coverage, which safeguards you in case someone experiences an injury on your premises. Damages to visitors’ property and potential accidents involving third parties while on the insured property are covered. A third-party incident could result in damages and injuries, and you or your immediate family could be held legally liable.
   
3. Natural and man-made disasters are investigated
   A comprehensive domestic property insurance policy encompasses all-natural disasters such as typhoons, earthquakes, floods, and lightning. This coverage defends your home against risks and losses. It also permits you to rebuild your home and regain your financial stability. Your property is also protected against natural disasters and criminal activities, which include vandalism, theft, strikes, riots, and involvement in illegal activities.
   
   Who in India Can Get Insurance for their Home?
   Every homeowner in India is eligible to obtain property insurance. Tenants can likewise secure insurance for their residences. A business can acquire property insurance if its partners or employees reside in a property owned by the business. Securing property insurance offers various benefits, such as:

• Coverage for any damage to your house’s structure.
• Safeguarding for electronics and other household items.
• You may lease a residence for a period of up to six months while your home is being repaired.
  Why Monsoons and Floods Can Inflict Harm on Your Property
  According to a report, India has incurred Rs 3,78,247 crores in damages due to floods from 1953 to 2017. The floods in India are known to result in fatalities, property destruction, livestock loss, etc. The economic repercussions of floods are exceedingly substantial. Floods happen annually in India, causing damage to properties and lives. Approximately 15% of the population in India is at risk of floods according to a TOI report. In FY 2019, 15. 6 lakh houses were lost as a result of floods. Therefore, obtaining property insurance during these times is crucial.
  
  Assam Floods June 2022
  The recent flooding in Assam has severely impacted lives and properties. 29. 7 lakh individuals in 30 districts of Assam have been affected. The death toll stands at 173 as of July 2nd, and it is on the rise. Around 88 revenue circles encompassing 2450 villages are impacted due to the flooding in Assam. The loss of life and property damage is gut-wrenching. However, with adequate property insurance, you can lessen the financial toll of the losses. The financial aftermath creates additional issues as well. If your financial consequences are managed, you can be more prepared to tackle the aftermath.
  
  HDFC Ergo Home Insurance
  
  With HDFC Ergo home insurance, you receive the following advantages:

1. Total protection of your home and its contents.
2. Coverage against theft and burglary is also part of the property insurance.
3. If you have security systems installed in your home, you can qualify for a premium discount of up to 15%.
4. Little documentation and a clear, comprehensible policy.

The HDFC Ergo property insurance covers the following hazards:

1. Fire and special risks
2. Theft and Burglary
3. Accidental Damage
4. Earthquakes
5. Cyclones
6. Electrical Breakdown
7. Floods
8. Alternate Accommodation
   
   Conclusion
   
   With the arrival of the monsoon season, floods similar to the Assam floods are a realistic threat. Everyone wishes for no harm to life and property. Nevertheless, you should be prepared for the worst to protect your family’s interests. You ought to acquire property insurance to shield yourself against unanticipated events. HDFC Ergo Property Insurance not only protects your home but also the possessions within it. Furthermore, with reasonable premiums, you can maintain your lifestyle while reducing risks that could disrupt your well-being.
   
   Disclaimer:
   The information provided above is for illustrative purposes only. For further details, please consult the policy wording and prospectus before finalizing the sale.