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Over the next week, super heavy showers are set to hit the Indian subcontinent, especially in the states of Tamil Nadu, Kerala, South Interior Karnataka, Konkan and Goa, Madhya Pradesh, Maharashtra, Arunachal Pradesh, and Gujarat, the IMD (<keyword id="19963725" type="General" weightage="20" keywordseo="Indian-Meteorological-Department" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Meteorological Department" meta.hostid="261" meta.entityid="Indian Meteorological Department">Indian Meteorological Department</keyword>) has predicted. Yesterday, India's financial capital, Mumbai was hit by a surprise, albeit hefty deluge of rain. Consequently, a yellow alert was issued for Thane, Pune, Palghar and other areas near to Mumbai. Between October 13-16, very heavy rainfalls are also expected in Kerala, Tamil Nadu, Andaman and Nicobar Islands, Gujarat and Andhra Pradesh. It's no secret that incessant rains also bring about significant economic damages. As seen very often in the past, a constant barrage of torrential rains can also quickly create a flood-like situation, which can wipe away houses, vehicles and everything that comes in its way. Per media reports, the average economic impact on India due to <keyword id="19912527" type="General" weightage="20" keywordseo="floods" source="keywords">floods</keyword> between 2011 and 2021 has been a staggering Rs 25,805 crore. Imagine this-your entire se is flooded. Water has seeped into everything—your walls, furniture, and even the plumbing. Without a <keyword id="22058670" type="General" weightage="100" keywordseo="home-insurance" source="keywords">home insurance</keyword>, you'll have to spend a hefty amount towards repairs and to get your life and home back on track. <h2>Getting your home insured</h2>So, if you are wondering how to protect your hard earned material but immovable assets like house, the answer is right in front of you- Home Insurance. Says Dilip Baba, Head of Commercial and Speciality Underwriting, Go Digit General Insurance, "People usually spend their entire life savings on purchasing a home. However, people rarely think about how to protect their investment. By investing in the safety of home insurance, you can enjoy peace of mind knowing that your property is covered in case of unforeseen events. With home insurance, you can opt for three types of coverage-structure, content and comprehensive. While structure simply insures the physical, immovable formation of your house (walls, roofs), content coverage goes a step ahead and takes care of damage caused to your movable items like furniture, electronics and other items due to natural calamities, theft and more, up to a certain limit. This can also include any valuable artwork or antiques, or additional installation like solar panels you might have at your home. A comprehensive home insurance brings together both structure and contents in its insurance ambit. Having a home insurance can not just protect you from natural calamities like floods, but also from unforeseen events like theft, fire and more. The annual premium of a home insurance policy can range between Rs 2,000 to Rs 10,000 depending on the type and extent of coverage taken. Before buying a policy, be sure to clarify whether it offers actual cash value, which considers depreciation, or replacement/reinstatement cost, which covers the full replacement without depreciation deductions. To be on the safe side, you can also choose additional covers like accidental death insurance, or rent coverage, if you lose out on rental income due to damage caused to your property. You can use the carpet area of your house to get a sense of your home insurance requirements. Other covers you can opt for include valuable contents (on agreed value basis under home contents cover), additional living expense cover, tenant liability insurance, among others. Says Amit Bhandari, Chief Technical Officer at Magma HDI General Insurance, "When selecting a policy, it’s crucial to assess the unique risks that your home may face, particularly if you live in an area susceptible to <keyword id="19922196" type="General" weightage="20" keywordseo="natural-disasters" source="keywords">natural disasters</keyword>. You should tailor your coverage to address these risks while considering premium reduction strategies, such as excluding unnecessary coverages".

Heavy rains to lash across the country between Oct 12-16, here's how you can insure your home from rain's fury

The issue of <keyword id="19895037" type="General" weightage="20" keywordseo="bengaluru" source="keywords">Bengaluru</keyword>'s <keyword id="6355836" type="General" weightage="100" keywordseo="water-crisis" source="Orion">water crisis</keyword> is currently dominating various news platforms, highlighting the challenges faced by residents and the efforts made by the Karnataka government to address the situation. This problem is indicative of the widespread water scarcity across South India. With the world recently having commemorated Water Day 2024, it's pertinent to acknowledge our recurring failure in addressing this crisis whenever there's a shortfall in rainfall. The changing climate, leading to erratic weather patterns, exacerbates this collective failure, posing potential irreparable damages to socio-economic and ecological systems. <cmsannotation type="cmsannotation" annotationid="A worsening crisis" comment="subhead" text="A worsening crisis">A worsening crisis</cmsannotation> This year, the southwest monsoon season (June to September), crucial for rainfall in southern states, experienced a significant 8% deficit compared to the long-term average in 2023. Additionally, the winter monsoon season (October to December) also saw a 13% rainfall deficit in the region. These consecutive deficits, along with insufficient rainfall this year, have adversely affected reservoir levels across South India. Urban centers in the region, including Bengaluru and Hyderabad, face the consequences, exacerbated by the closure of lake networks and excessive groundwater pumping in recent years <cmsannotation type="cmsannotation" annotationid="Dipping water stores" comment="subhead" text="Dipping water stores">Dipping water stores</cmsannotation> According to the latest weekly report by the <keyword id="19912241" type="General" weightage="20" keywordseo="central-water-commission" source="keywords">Central Water Commission</keyword> (CWC), the combined storage capacity of 42 reservoirs in Andhra Pradesh, Telangana, Karnataka, <keyword id="19896018" type="General" weightage="20" keywordseo="kerala" source="keywords">Kerala</keyword>, and <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword> stands at 23% of their total live storage capacity, significantly lower than last year's levels (39%) and the ten-year average (32%). State-wise reservoir levels this week indicate a severe shortage, with Andhra Pradesh at 69% below normal, and Tamil Nadu (30%), Karnataka (24%), and Telangana (12%) also below normal. Kerala is the only state maintaining slightly above normal reservoir levels at 1%. Rivers such as the Krishna and Cauvery exhibit deficient storage levels, reflecting the widespread shortage in various regions. North India (33%), West India (45%), and Central India (46%) also face storage levels much lower than the ten-year average. <cmsannotation type="cmsannotation" annotationid="The road ahead" comment="subhead" text="The road ahead">The road ahead</cmsannotation> Looking ahead, despite current shortages, many state governments assure the public of sufficient water until June, with expectations of pre-monsoon and monsoon rains to replenish water resources. Reports of El Niño transitioning to neutral and a forthcoming La Niña event suggest normal to above-normal monsoon rainfall. In Bengaluru, residents are advised against using Cauvery and borewell water for festivities like Holi, although no additional water use restrictions have been imposed by the Bangalore Water Supply and Sewerage Board (<keyword id="19927086" type="General" weightage="20" keywordseo="bwssb" source="keywords">BWSSB</keyword>) for the festival. Given the nation's reservoir levels, celebrating a dry Holi seems prudent not only in Bengaluru but across the country.

Dipping reservoir stores in South India raise alarms on possible water shortages ahead

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Heavy rains to lash across the country between Oct 12-16, here's how you can insure your home from rain's fury

Ira Alok Puranik

Dipping reservoir stores in South India raise alarms on possible water shortages ahead

Ashmita Gupta

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