Flood Insurance in India

Flood causes immense damage to life and property every year in India. During and after wards of flood victims need medical attention or critical care that may funded by the government.  

 Though India is quite prone to this natural calamity but a Flood Insurance Policy is not very popular in India. There are a number of policies available which are providing protection against damage to the property caused by flood according to the guideline of IRDA.

The insurer can avail compensation for the property that has been damaged by rain/flood etc. & personal belongings under flood insurance policy.
  • River floods- River or fluvial flood is caused when excess water accumulates exceeding the capacity of the river. Damage can be widespread as this overflowing spreads to the nearby areas.
  • Surface floods- Excessive rainfall leads to flooding any area and this might occur independent of a nearby water body.
  • Coastal floods- Coastal or surge floods are caused when there is an extreme tidal condition. The nearby coastal areas get inundated with water causing damage to life and property along the coast and even the interiors.
Flood insurance policies are quite inexpensive in India. It is therefore a major advantage and one should buy to provide protection against such unprecedented natural calamities.


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