Flood is a natural disaster. Uncertainty of rain is the main cause of most of the floods. Flood insurance is the type of insurance which covers property loss due to flood. Most of the home insurance companies provide protection against loss caused by overflowing of water within the house. The Insurance includes loss caused due to overflowing of other water bodies, clogged storm drains, melting snow, etc.
The main benefit of Flood insurance is that the person gets the compensation for the loss of property due to flood. An individual will not have to suffer for the replacement damaged caused by the flood. One has to pay a very reasonable amount in the form of EMI, which is decided at the time of obtaining the flood insurance India policy for the first time. Charges of insurance companies differ according to the circumstances of the property and the risk factor.
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