Flood & Earthquake Insurance – Flood & Earthquake Insurance is an insurance that includes property accident insurance. Natural risks of floods and earthquakes. Risks that people have little or no control over at all are called natural risks. The emergence of flood and earthquake insurance is aimed at protecting people from the damage caused by natural disasters, floods and earthquakes.
Floods and earthquakes can cause great damage to human life and property. Every year, floods and earthquakes around the world cause severe damage to agricultural crops, livestock, industries, business establishments, homes and other infrastructural establishments.
Floods in insurance companies to help people get rid of such property damage. Has introduced earthquake insurance. Generally speaking, flood and earthquake insurance is the only protection against financial loss due to floods and earthquakes. Broadly speaking, flood and earthquake insurance is an agreement between the insurer and the insured which covers the existing flood and earthquake damage to the property of the insured agricultural crop, cattle, industry, factory, home or corner for a certain premium.
From the above discussion, it can be said that floods and earthquakes are sudden natural disasters. The contract that the property owner enters into with the insurer for compensation in case of loss of property due to this disaster is called flood and earthquake insurance.