After Gujarat Floods, Property Insurance Discounts Shrink and Rates Rise
After nearly Rs 5,000 crore in Gujarat flood claims, insurers are cutting steep fire and property discounts, pushing many renewal premiums up.
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Market moves, claims lessons and the developments shaping cover in India — read by the people who place and settle it.
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After nearly Rs 5,000 crore in Gujarat flood claims, insurers are cutting steep fire and property discounts, pushing many renewal premiums up.
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Choose one. See what usually goes wrong, the cover worth discussing, and the one question to ask before your next renewal.
Ask before you renew “Is the building insured at today's reinstatement cost, or at an old value that would leave a gap after a claim?”
Ask before you renew “If the premises were shut for three months, which costs would still need paying — and are they covered?”
Ask before you renew “Does the sum insured reflect what it would cost to replace the plant and stock today?”
Ask before you renew “Does the policy period cover project delays and the maintenance period after handover?”
Ask before you renew “Do the policy's transit terms match the terms in your sale or purchase contracts?”
Ask before you renew “Does the group policy cover families and pre-existing conditions from the first day?”
Rate changes, claims lessons and renewal pointers for property owners and businesses. No noise, no spam.