Natural calamities can occur anywhere and at anytime. While people take loans to cover the risk of EMI repayment, because the lender ensures their loan disbursement is protected and safe, what home owners forget is the immense value in insuring their homes—the structure and contents of their homes. Insure your home against fire and allied perils, and insist on adding earthquake cover because it is not automatically available. The premium goes up when you include ‘acts of god’, but natural calamities fall under this act. You should also consider adding burglary cover, considering the money you would have spent to add to your worldly possessions. What’s more, the scope of the household policy also includes insurance on electrical and electronic gadgets, which means if your TV or fridge is a victim of voltage fluctuation, you can claim reimbursement on repairs or repayment, depending on the scope of the cover.

OLMdesk@outlookindia.com