Be Prepared and Stay Protected
India as a nation has over the years greatly improved its approach towards tackling and mitigating the damage caused by natural calamities. The most conspicuous change has been the increased use of technology in risk assessment and adoption of appropriate avoidance / mitigating measures. The recent cyclone “HudHud” is a classic example of how technology helped in early detection of a natural catastrophe. The findings pertaining to the cyclone were then effectively used to prepare both people and the relevant authorities for preventive action.
While large strides have been taken in the direction of better on-ground management; minimizing the impact of financial losses for victims is yet to be addressed completely. In other words, basic benefits of insurance continue to elude a large chunk of our population. Insuring of valuable possessions like homes, cars etc. against floods, cyclone, storms and other natural calamities can contribute to the financial resilience of victims immensely. The trauma and distress that people undergo during such incidences can certainly not be compensated for but insurance can provide much needed financial relief to the victims through monetary compensation for damaged property and assets.
Apart from financial relief, the insurance sector plays a consistent role in inculcating a culture of safety by constantly educating consumers on methods to cope with unforeseen circumstances.
Despite a string of natural catastrophes India has faced, (the latest being HudHud) and the massive damage to property and assets, very few have insured their material possessions. The insurance industry provides a range of offerings which help to ameliorate any loss during the course of such trying times. Bharti AXA General Insurance shares some important pointers that could be considered while opting for vehicle and home insurance that are particularly useful in the wake of natural calamities.
MOTOR INSURANCE
While most people have a comprehensive insurance policy to cater to their bank’s stipulation for such coverage, not many people know that motor insurance products today come with add-ons and useful benefits that meet specific needs in times of disaster, all for a nominal increase in premium.
- Hydrostatic Cover– If the vehicle is caught up in a flooded area and there is an inadvertent attempt to continue driving / starting the car, there is every possibility of water ingress to internal engine parts and consequent engine seizure. Such damage would not be payable under an ordinary comprehensive policy as this would be considered an extension of loss. Availing Hydrostatic Lock Cover, would extend insurance cover for such eventuality.
- Road Side Assistance– A common sight during the cyclone / monsoon season is of vehicles getting stranded on a road following a flood / stagnation of water. It may not be advisable to the customer to crank the engine as this may lead to ingression of water into engine and consequent damage to the engine itself. Road Side Assistance Product provides the comfort to the customer, where insurance company’s vendors would tow the vehicle to the nearest garage.
- During lightning, stay in the vehicle with windows closed, avoid touching metal parts of the vehicle and do not see the lightning with naked eye
- Keep yourself updated of the latest reports regarding progress of the cyclone.
- Do not stay in a Vehicle, if possible run to a nearby solid structure (Building/Shelter)
- Avoid parking on slopes and always park with handbrakes on
- Beware of the downed power lines that may be touching your car
- Avoid driving cars during heavy rains or through flooded water as it can damage the engine and other internal components.
- Drive the vehicle at a very cautious speed to avoid the engine from stalling
- Check the brakes and radiator fans for thorough functionality
- Should the vehicle stop, avoid cranking as it may damage the system
- Do not keep the AC on in stagnant water as it may increase the splash of water
- Avoid closing doors with central locking
- If the water level has risen up to the passenger compartment, do not turn the ignition on.
Author Mr. Rajagopal Gopalan Senior Vice President & Head, Operations and Claims. Bharti AXA General Insurance
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