Kerala Government
Img : architecturaldigest

To secure lakhs of residential properties in the state, the Kerala Government is planning to draft an insurance scheme for the natural calamity hit houses. The decision has been taken keeping in mind the lakhs of houses that were destroyed during the 2018 Kerala Floods.

Under the scheme, an insurance cover of a maximum of 10 lakhs will be provided to a homeowner that would provide a cover for natural disasters and calamities. The government has also ensured that the scheme must cover a minimum flat insurance coverage for all the houses hit by any natural disaster.

According to top government officials, in lieu of the last year’s floods, the State Disaster Management Authority (SDMA) is been planning to draft an insurance scheme by collaborating with the Public sector insurance companies in which by paying just a minimal amount, a residential property owner can insure their house.

Some of the companies which the government is considering for the collaboration are United India Insurance, Oriental Insurance Company, National Insurance, and New India Assurance.

Other sources from the state government said, “The homeowner has to give a minimal yet reasonable amount of premium to get their house insured. The past policies which were offered just provide maximum coverage of 1, 01,900 to the homes hit by the disaster. Also, the received insurance sum would not be governed by an evaluator’s report.”

The 2018 Kerala floods have affected more than 15,000 homes that were destroyed due to the calamity. Of which around 9,329 property owners have rebuilt their home by themselves. Approximately, 1990 homes were reconstructed under the state government initiative called the Care Home Project. While 1225 were rebuilt with the help of private local sponsors, another 245 homes were reconstructed under the Corporate Social Responsibility initiative of various organisations.