The monsoon has covered the entire country and brought heavy rainfall to several parts of India. Lightning strikes have also been reported in which some people lost their lives. Heavy downpour and lightning strikes may also damage property. While the monsoon season leads to pleasant weather, the severe fluctuation in temperatures can cause serious illnesses. Also, tiny pathogens can easily transmit air-bone infections during this time. It is, therefore, wise to take preventive measures during the rains and prepare financially.
Here are some tips on how to prepare for this season:
1) Insure Property
Make sure you have a comprehensive insurance policy to secure your property against damages caused by flood, lightning strike, storm or earthquake. Building a home requires an investment of a lifetime and it hurts to lose it as a result of one freak act of nature that is beyond our control. Those living in low-lying and flood-prone areas should actively seek a home insurance policy.
2) Get A Health Insurance
The first insurance policy bought by an individual is almost always a life or health insurance policy. Health insurance ensures you get good medical care if you develop a seasonal disease or infection. And for those depending on you, you should buy a life insurance policy so that they feel secure and protected even in your absence. Pay attention to the diseases your health plan covers and, if need be, invest some more to get comprehensive coverage.
3) Insurance For Vehicles
Often we come across videos of roads caving in and swallowing vehicles parked there. Heavy rainfall puts your vehicle at risk. Cars and bikes get stuck in water-logged streets. To cover those expenses as well a proper insurance cover is necessary.
4) Accident Cover
Life is unpredictable and monsoon and slippery roads increase the possibility of an accident. What you, therefore, need is an accident cover that pays you in case of a permanent disability, partial disability or temporary disability. The policy should assure either a lump sum or a regular amount to your family if an accident results in your death.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
