Insurance of Society Buildings
BY: SUDHAKAR DOKHANE
(Past President PEATA (I)
There is lack of awareness for protecting immovable properties through adequate Insurance Cover. No matter risks of natural calamities and fire are rare, but when it struck it costs not only a loss of property but some time human lives also. In such circumstances damaged properties can not be restored immediately without substantial financial help. Insurance cover is one of the assured financial assistance. This cover is provided by the General Insurance Companies by giving insurance protection. All the financing institutions insist for adequate insurance of property while advancing loan to individuals or companies for the construction of buildings; to protect their interests. Never forget that, comparatively the premiums for such general insurance cover are much less and definitely within limits of individuals, society or company as the case may be. Considering risks involved it is advisable that one should protect their property with adequate insurance cover for all the times.
The General insurance companies issue policies for buildings against the risks of:
i) Natural calamities like Earthquake, Floods etc.
ii) Fire by short circuits and any other reasons.
Following Insurance Companies offer insurance cover in the matter :
General Insurance Corporation of India
Central Agency (Head Quarters)
“Suraksha” 170, Jamshedji Tata Road,
Churchgate, Mumbai – 400 020. Tel. No. 283 3046.
Subsidiary Companies
i) National Insurance Company Ltd. ii) Oriental Insurance Company Ltd.
12, Jamshedji Tata Road, 12, Jamshedji Tata Road,
Churchgate, Mumbai – 400 020. Churchgate, Mumbai – 400 020.
iii) United India Insurance Co. Ltd. iv) New India Assurance Co. Ltd.
Mumbai Regional Office, Head Office 87, New India Assurance Building, M.G. Road, Fort,
Stadium House, Veer Nariman Road, Mumbai – 400 001.
Churchgate, Mumbai – 400 020.
Note:
Your regular L.I.C. Agent or Development Officer can guide and give proper advice in the matter including settling the claims.
The Insurance period generally is for ONE year, and one should see that the policies are renewed regularly and kept it in force.
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