Have A Property In A Sensitive Zone? Buy A Cover That Guards It Against Terror

We would not be exaggerating if we said that the best of the television commercial were made by insurance providers. They strike our emotional cords and force us to think, why are we not insured so far? On second thoughts, we discover that the whole play is on our fear factor. This is just the insurer's way to do better business. As far as a consumer is concerned, he may be paying monthly for a cover he might not need in his entire life. Keeping that in mind, we quickly discard the suggestion of travel insurance while booking our air tickets —something experts would not approve of, especially if you are travelling to a foreign location.

We do not buy a health cover in case our employer is extending one to us. The primary purpose of investing in a term-insurance policy is also of saving on taxes. Only reluctantly, we force ourselves to buy a home insurance cover, considering the stakes are higher here.

Simply put, not much thought is given while buying insurance policies in India as far as an average policy buyer is concerned, and this might lead to the consumers losing out of the benefits insurance policies have the potential to provide.  Businesses, on the other hand, evaluate the location and buy the cover accordingly.

An insurance cover bought for a property lying in sensitive zones cannot be the same as those that are generally secure. For this, terrorism insurance coverage is needed that guards you against potential losses due to acts of terrorism. In India, this cover is highly sought by the business, local as well as international.

While it is a must to buy an insurance cover that provides protection against terror attacks in case you are running your business or travel frequently to such sensitive areas, it is even more important to be duly covered in case you own a property at such a place, say experts.

Typically, a property insurance plan protects your house against explosions, fire and other such threats but it does not cover terrorist attacks. An insurer will have to categorically ask his company to insert a clause in this regards, for which the former will have to pay a higher amount.

Before signing the policy documents, make sure included under the policy, and more importantly, excluded. Even while providing a cover against terror, many policies do not insure biological, chemical and nuclear attacks. Get the terms changed, based on your requirements.