Protect yourself financially from natural calamities

You are lucky if you are not affected by the hurricanes that hit coastal areas of India. However, all bad things do not happen to others. Earthquakes, tsunamis, hailstorms, and even lightning can throw up nasty surprises. Such events not only send a country’s economy into a tizzy, but also take money matters of households for a joy ride. Many times, you have to pick up the pieces and rebuild your portfolio. A recent report by Swiss Re has revealed that only 10% of over $52 billion lost in Asia in 2014-15 because of manmade and natural disasters were covered under insurance. The value of flood damaged property was around Rs 27,000 crore but only a fraction of that loss was insured.

Click here to read more>>