Please donate #Chennai Floods

[Sky lord]

There are usually no insurances for natural disasters.

Every house in California has earthquake insurance.

Plus this was avoidable to a large extent was it not, if the drains had been maintained?

 

[Levina]

Was there. Did not stay for long. Bad situation.

I did see pictures of your guys in Chennai.

Every house in California has earthquake insurance.

Plus this was avoidable to a large extent was it not, if the drains had been maintained?

Please refer to the link I have posted.
I hope more ppl will start insuring their houses and other valuables.




Take cover against natural disasters - The Times of India
It has taken a devastating earth quake to shake homeowners in India out of their slumber. Seeing the trauma and destruction in Nepal, everyone wants to know whether they can insure homes against earthquakes and how much would it cost.

Very few people take home insurance in India. "Even though it is very cheap, less than 1% of people who can afford home insurance actually buy this cover," says Tapan Singhel, Managing Director and CEO, Bajaj Allianz General Insurance Company.

This is surprising because India is disaster-prone. As much as 30% of the Indian landmass is prone to earthquakes of severe intensity. Another 27% is prone to moderate earthquakes. Nearly 12% of India is prone to floods and 76% of its coastline is prone to cyclones and tsunamis. "Even if someone buys home insurance, it is for a very short tenure. There is a greater need to buy a cover against disasters," says KK Mishra, Managing Director and CEO, Tata-AIG General Insurance.

How much it costs

A 1,500 sq ft house can be covered for Rs 50 lakh against fire and other perils for less than Rs 1,700 a year. If contents worth Rs 10 lakh are included, the cost will go up by Rs 400. You don't need to take a cover for the market value of the property but only for reconstructing it. Construction costs vary from Rs 1,000 per sq ft for a no-frills structure to almost Rs 3,000 per sq ft for premium.

Some companies offer discounts if you buy a comprehensive policy with additional coverage. We like the Householder Policy from Oriental Insurance that offers an array of 10 covers and gives discounts to buyers who tick on more than four. The policy covers nearly all the risks that your house and valuables are exposed to. A basic cover of Rs 50 lakh for the building and Rs 10 lakh for the contents is as cheap as Rs 2,100 a year (see table). It can be bought online, though you might have to spend 40-50 minutes on drawing up an inventory of the items you need to cover.

As the cost of reconstruction keeps rising, you might have to increase the insured amount every few years. Some insurers offer discounts if you take a multi-year policy. If the premium for a Rs 50 lakh cover is Rs 3,800 a year, it will be 18% lower at Rs 15,590 if you buy a five year policy. If the escalation of rebuilding costs is a worry, HDFC Ergo has a policy where the sum assured goes up every year. The basic insurance cover rises 10% every year. The premium of the escalation option is higher at Rs 19,100 compared to Rs 15,590 charged for a normal Rs 50 lakh cover for five years.

What gets covered

While all home insurance policies offer cover against earthquakes, some insurers have a compulsory 5% deductible in case of damage due to an "act of God". An act of God is any event, especially a natural disaster, for which no individual can be held responsible. The deductible means that if your house is insured for Rs 50 lakh, and it suffers a damage worth Rs 20 lakh, the first 5% of the claimed amount (or Rs 1 lakh) will be borne by you. Some insurers don't even have such deductibles. "Policies covering individual residences or dwellings with individual owners do not have compulsory deductibles. However, policies covering housing societies are subject to deductibles depending on the sum insured," says Subrahmanyam B, Head, Health & Commercial Underwriting, Product Development and Reinsurance, Bharti AXA General Insurance.

In some policies, this deductible can be customised. Raise the deductible, and the premium goes down.

What is not covered

While you can cover the contents of the house against damage and theft, some valuables are not covered. Cash, documents, share certificates and debit or credit cards are not included. Jewellery and other valuables are covered, but subject to ceilings. Some policies specify that the cover for jewellery will not exceed 25% of the total contents insurance cover sum insured or Rs 1 lakh, whichever is lower. The individual responsible for the theft is also critical to the claim getting passed. "If the contents have been stolen by a relative or a household help your claim will not be admitted," says financial planner Pankaj Mathpal. When covering appliances and gadgets, ascertain the cost of replacing the item. An item is insured for its market value after depreciation. The insurance company will pay the amount required to restore an item to the condition it was in before damage. Simply put, a refrigerator or an airconditioner might have cost you Rs 40,000 about five years ago, but its depreciated value will now be Rs 20,000-22,000.

 

[ranjeet]

Will be donating from alcoholic piggy bank, I just hope Amma stop pasting her picture on every damn thing.

 

[nForce]

just that they will be too many cases of snake bite, diarrhea, sepsis, pneumonia etc because of the dirty water everywhere, and it would be i suppose too much for the ndrf to handle by themselves and co-ordinate with the local medical personnel.

i was only wondering if young intern doctors like halu were volunteering.

They have trained teams for such purposes, doctors, equipment, supplies, able bodied men, everything. They are also backed up with very strong networks. You will be surprised to know, how much organized they are.

As for example, take a look at this message. This is about the earth quake that happened today. Issued within 9 minutes.
** Deleted the message screenshot - That was kind of confidential.

 

[jamahir]

This is about the earth quake that happened today.

a earthquake today?? i wasn't aware.

 

[Sky lord]

I did see pictures of your guys in Chennai.

View attachment 278004


Please refer to the link I have posted.
I hope more ppl will start insuring their houses and other valuables.




Take cover against natural disasters - The Times of India
It has taken a devastating earth quake to shake homeowners in India out of their slumber. Seeing the trauma and destruction in Nepal, everyone wants to know whether they can insure homes against earthquakes and how much would it cost.

Very few people take home insurance in India. "Even though it is very cheap, less than 1% of people who can afford home insurance actually buy this cover," says Tapan Singhel, Managing Director and CEO, Bajaj Allianz General Insurance Company.

This is surprising because India is disaster-prone. As much as 30% of the Indian landmass is prone to earthquakes of severe intensity. Another 27% is prone to moderate earthquakes. Nearly 12% of India is prone to floods and 76% of its coastline is prone to cyclones and tsunamis. "Even if someone buys home insurance, it is for a very short tenure. There is a greater need to buy a cover against disasters," says KK Mishra, Managing Director and CEO, Tata-AIG General Insurance.

How much it costs

A 1,500 sq ft house can be covered for Rs 50 lakh against fire and other perils for less than Rs 1,700 a year. If contents worth Rs 10 lakh are included, the cost will go up by Rs 400. You don't need to take a cover for the market value of the property but only for reconstructing it. Construction costs vary from Rs 1,000 per sq ft for a no-frills structure to almost Rs 3,000 per sq ft for premium.

Some companies offer discounts if you buy a comprehensive policy with additional coverage. We like the Householder Policy from Oriental Insurance that offers an array of 10 covers and gives discounts to buyers who tick on more than four. The policy covers nearly all the risks that your house and valuables are exposed to. A basic cover of Rs 50 lakh for the building and Rs 10 lakh for the contents is as cheap as Rs 2,100 a year (see table). It can be bought online, though you might have to spend 40-50 minutes on drawing up an inventory of the items you need to cover.

As the cost of reconstruction keeps rising, you might have to increase the insured amount every few years. Some insurers offer discounts if you take a multi-year policy. If the premium for a Rs 50 lakh cover is Rs 3,800 a year, it will be 18% lower at Rs 15,590 if you buy a five year policy. If the escalation of rebuilding costs is a worry, HDFC Ergo has a policy where the sum assured goes up every year. The basic insurance cover rises 10% every year. The premium of the escalation option is higher at Rs 19,100 compared to Rs 15,590 charged for a normal Rs 50 lakh cover for five years.

What gets covered

While all home insurance policies offer cover against earthquakes, some insurers have a compulsory 5% deductible in case of damage due to an "act of God". An act of God is any event, especially a natural disaster, for which no individual can be held responsible. The deductible means that if your house is insured for Rs 50 lakh, and it suffers a damage worth Rs 20 lakh, the first 5% of the claimed amount (or Rs 1 lakh) will be borne by you. Some insurers don't even have such deductibles. "Policies covering individual residences or dwellings with individual owners do not have compulsory deductibles. However, policies covering housing societies are subject to deductibles depending on the sum insured," says Subrahmanyam B, Head, Health & Commercial Underwriting, Product Development and Reinsurance, Bharti AXA General Insurance.

In some policies, this deductible can be customised. Raise the deductible, and the premium goes down.

What is not covered

While you can cover the contents of the house against damage and theft, some valuables are not covered. Cash, documents, share certificates and debit or credit cards are not included. Jewellery and other valuables are covered, but subject to ceilings. Some policies specify that the cover for jewellery will not exceed 25% of the total contents insurance cover sum insured or Rs 1 lakh, whichever is lower. The individual responsible for the theft is also critical to the claim getting passed. "If the contents have been stolen by a relative or a household help your claim will not be admitted," says financial planner Pankaj Mathpal. When covering appliances and gadgets, ascertain the cost of replacing the item. An item is insured for its market value after depreciation. The insurance company will pay the amount required to restore an item to the condition it was in before damage. Simply put, a refrigerator or an airconditioner might have cost you Rs 40,000 about five years ago, but its depreciated value will now be Rs 20,000-22,000.

Thanks for the link.

At least the middle class should be incentivized to insure against natural calamities depending where you live. Flood, fire, earthquake, crop insurance for farmers in case of loss of crop due to bad weather, health insurance against illness......

 

[Rajaraja Chola]

@jbgt90 @Syama Ayas @Rajaraja Chola @kurup @scorpionx

@jamahir @Skull and Bones @Rain Man @thesolar65
And others.

I already donated. Though 20$, this is the best I can do for now. But that person to whom I had donated have stopped taking donations now as conditions have become ok. He is a good guy, a friend of a friend.

But still rain threatens. Thanks Levina ji as it didnt occur to me to start a thread on this. Thank u.

And kindly guys do not donate to TN CM relief fund. It will used to make Amma Stickers

 

[jaunty]

@nForce @AUSTERLITZ @Soulspeek @rubyjackass @XiNiX

Come on everyone....
Pls donate.

@jaunty @Robinhood Pandey @Tridibans @It.is.all.mudi's.fault

Thanks for the tag; I have already donated to PMNRF.

 

[dray]

There are usually no insurances for natural disasters.

For properties there is a Fire & Special Peril (with Earthquake add on) Policy from general insurance companies that covers almost all natural disasters and accidents. It's cheap, and a 10 or 20 years policy will offer you some 50% discount on premium. While calculating the value of your property don't include the cost of land, land is not insurable, only insure the cost of constructing the building at current market prices, maybe a little extra if you are going for long term policies. Furnitures can also be insured with a different policy.

 

[nForce]

For properties there is a Fire & Special Peril (with Earthquake add on) Policy from general insurance companies that covers almost all natural disasters and accidents. It's cheap, and a 10 or 20 years policy will offer you some 50% discount on premium. While calculating the value of your property don't include the cost of land, land is not insurable, only insure the cost of constructing the building at current market prices, maybe a little extra if you are going for long term policies. Furnitures can also be insured with a different policy.

Thanks. I may need your help regarding this. I will ping you.

 

[Grevion]

I am not sure he comes online often.

@arp2041 might have more information on this. I hope he's around.

@Blue Marlin @Sky lord @litefire @magudi- FYI.

@Nair saab @acetophenol

@Star Wars

Thnx for the tag. I will donate to PMNRF.

 

[SarthakGanguly]

I did see pictures of your guys in Chennai.

Yeah, the karyakartas and swayamsevaks are there. Even Kerala and Andhra RSS were also mobilized for it. There is a shortage of supplies though. Not money. All non Tamil speaking workers were encouraged to leave once the situation stabilized. Makes sense. Makes more room.

 

[Gibbs]

Looks like it's Colombo's turn to face atrocious weather, From the news we're getting several parts are experiencing mild flooding, Colombo does have a better drainage system and it's surrounding wetlands are a bit more preserved, So hopefully it will not be as bad

 

[Levina]

Looks like it's Colombo's turn to face atrocious weather, From the news we're getting several parts are experiencing mild flooding, Colombo does have a better drainage system and it's surrounding wetlands are a bit more preserved, So hopefully it will not be as bad

I hope it doesn't hit your country.
I have read so many stories and seen so many videos of chennai floods that I pray there no more natural calamities, most of which can be imputed to human activities.

Yeah, the karyakartas and swayamsevaks are there. Even Kerala and Andhra RSS were also mobilized for it. There is a shortage of supplies though. Not money. All non Tamil speaking workers were encouraged to leave once the situation stabilized. Makes sense. Makes more room.

The issue now is, food is in excess but there's a shortage of shelter and clothing.

 

[Gibbs]

I hope it doesn't hit your country.
I have read so many stories and seen so many videos of chennai floods that I pray there no more natural calamities, most of which can be imputed to human activities.

From the news we're getting it's raining quite heavily in around Colombo, Elsewhere in the North East they have declared minor flood situation.. Sri Lanka is quite used to very heavy showers being in the tropics, And have a better drainage system in place because of that experience, But with global warming the weather patterns are getting more extreme each year so if those systems in place are adequate for such weather is always a question