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Buy insurance cover for building on reinstatement, not market value, basis

This will ensure the insurer pays an amount adequate to restore the damaged house to its original state

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Photo: Shuttersock

Bindisha Sarang

4 min read Last Updated : Jun 21 2023 | 8:29 PM IST

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Natural disasters are becoming more frequent and also growing in intensity. Cyclone Biparjoy, apart from causing loss of life, also inflicted extensive damage to property, including residential homes. This event once again underscored the importance of purchasing home insurance.

For many people, their home is the most expensive asset they own. “Such perils can cause extensive damage, leading to a heavy financial burden. Home insurance is a fundamental tool that can provide financial protection -- both to your home and its contents,” says Gurdeep Singh Batra, national head, retail non-motor underwriting and co-insurance, Bajaj Allianz General Insurance.

A comprehensive home

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