Four insurance covers you must have this monsoon 16^th September 2020

Monsoon brings us particular delights, after the scorching summer season, rain is the only respite we look forward to. But they are not so delightful when they leave a trail of plight.

Some of the problems revolve around viral or water-borne diseases, floods, property damage, and vehicle corrosion. So, how can you possibly save yourself from such financial setbacks, especially during monsoon? A combination of the right insurance policy can help you from getting attacked by such flailing financial setbacks. Here's a curated list of insurance policies that you can buy to stop burning a hole in your wallet.

Choosing a comprehensive health insurance policy

• Some of the common ailments of this season are malaria, dengue, viral fever, typhoid, chikungunya, diarrhoea, and hepatitis.
• However, insurance companies provide a holistic range of health insurance plans covering almost all of these diseases.
• To meet the rising number of requirements for specific medical treatment claims, insurance companies provide policies specific to diseases at a marginal cost which provides insurance against particular incidence.
• These policies can be specific or add-ons. For instance, dengue can be quite fatal during this time, and companies are offering retail plans for that particular disease.
• However, a comprehensive health insurance policy plan can be lucrative since they cover all the seasonal ailments holistically to alleviate financial distress.
• They also provide pre and post-hospitalization expenses for 60 and 90 days, respectively.

Buying a personal incident policy

Buying a separate personal accident plan for the owners of vehicles can protect you against any uneven eventuality. Potholes and foggy roads can be quite fatal for those who commute on their cars. Personal Accident Insurance will cover injury, permanent disability, and death, for which the entire assured sum is paid.

Subscribing to add-ons for enhanced vehicle protection

• Although third-party motor insurance is a compulsory buy for every vehicle owner, a comprehensive policy can also offer a variety of extra coverages. However, comprehensive motor insurance also has certain limitations; for instance, if rainwater damages your car engine, they are not likely to be covered. But there are exceptions, water if it doesn't get sucked inside would cause further damage - that is not covered in regular comprehensive policy.
• Add-ons like engine and gearbox protector, Zero Depreciation, and Emergency roadside assistance are some of the most popular insurance add-ons during the monsoon season.
• You can choose and compare to buy car insurance online, and to have the best possible fit for you, be sure to go through the exclusion and inclusion document to have an overview of policies you are about to buy.

Buying home insurance

• Torrential downpour or floods can be detrimental to your house, and If you are a resident of a place that is frequently flooded every year, then this insurance would make sense.
• The average premium of insurance such as this ranges between 5000 to 10000 INR, this is meagre and affordable as opposed to losing out your house.
• The insurance would cover any structural damage or content damage in your home. Even if you live in an apartment that is one the higher floors, there are issues like electrical damage and seepage for which you have to pay a hefty amount if not insured.

Verdict

If you are well protected in the month of monsoon, you will find it easier to have a sustainable life during this season. And, for financial and medical protection, insurance policies are the only saving grace.

With the right combination of insurance coverage for you, monsoon can be approached safely by you without feeling inhibited.