New Delhi: Cyclone 'Biparjoy' which is less than 180 kilometres away from the coast of Gujarat is expected to make landfall on Thursday evening. It is anticipated that heavy rain and storm surges will hit the state and surrounding areas.


Meanwhile, on Wednesday, Finance Minister Niramala Sitharaman chaired a meeting of managing directors of public sector banks and insurance companies to review their preparedness in view of cyclone 'Biparjoy' as it poses a major threat to houses and vehicles.


Hence, it is crucial for home and vehicle owners to know about their insurance and how to raise a claim.


Home Insurance 


Home insurance offers three kinds of coverages, the basic policy begins with protection against fire and natural disasters such as cyclones, floods, and earthquakes. A policyholder can add another layer to this, which safeguards the contents of the house from natural or man-made disasters, and finally, the third layer which covers peripheral risks like accidents within or outside the home caused by the policyholder or their family members, as well as loss of baggage during transit. These coverages can be purchased separately or as part of a comprehensive home insurance policy. 


It is to be noted that home insurance typically covers the cost of construction, excluding the land value. In case, a house need to be rebuilt, the cost is calculated by multiplying the carpet area or net usable area of the house by the current construction cost in the city.


Motor Insurance 


When it comes to motor insurance, it is essential to have a comprehensive plan to protect the vehicle against damage and losses caused by natural calamities. Like home insurance, there are add-ons to vehicle insurance as well. For example, an engine protection cover can safeguard the vehicle's engine during cyclones. This add-on is important especially for people living in waterlogging or cyclone-prone areas, as water entering the engine can lead to costly repairs or replacements.


To protect accessories such as rubber mats, headlights, wiper blades, and mud flaps, individuals can opt for an additional add-on cover.


How To Claim Your Insurance 








In case of a claim, it is essential to promptly notify the insurance company. The company will assign a surveyor, who will assess the losses before settling a claim. An insurer may request identification documents for verification, however, in some cases, the insurer may only require the policy issuance date and year to expedite claim settlement.








In a motor insurance claim, the insurer may have to provide substantial photo and video evidence during the vehicle inspection by the surveyor to expedite the claim settlement process.