Those who have lost their homes in natural catastrophes like fire, earthquakes, landslides, tsunami, flood or terror attack can tell us how tough it is for them to rebuild them. As there is little one can do to evade natural catastrophes, we have to change the “Act of God” perception while buying a home insurance. Family, friends and siblings often advise us to buy a medical, health, retirement insurance, but there is hardly any angel who will guide us on buying home insurance which will shield against any loss or damage to the house and its valuables. As per IRDA reports, only 1 per cent Indians have insured their homes. In India, the penetration of home insurance is 0.65 per cent while in the UK it is 97 per cent in the US is 96 per cent and Germany it is 80 per cent.
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