The life and property of an individual are surrounded by the risk of death, disability or destruction. These risks may result in financial losses. This is when insurance comes into the picture, as a way of managing risks.

If you have recently purchased a house or own a residential property, then you would have come across insurance agents trying to convince you to sign up for a – home insurance plan.

Imagine the agony and pain one would have to go through if your home gets washed away in floods, like the recent one in Kerala or if it falls apart like a pack of cards in an earthquake or it is broken into. Though you might not even want to think of such situations, it is quite possible that anyone can land up in such a situation. So what do you do in such circumstances?