Fire insurance: Declare correct property value to ensure adequate payout

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The story "Fire insurance: Declare correct property value to ensure adequate payout" was covered 5 hours ago by Business Standard, a news publisher based in India.

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Fire insurance: Declare correct property value to ensure adequate payout - Business Standard

Quick Summary:

Discounts are also offered on long-term policies and to customers with a good claims history,” says Shirwani.

Precious items like coins, art, or contents over 10 years old are also excluded,” says Abhishek Kumar, a Securities and Exchange Board of India (Sebi) registered investment adviser and founder, SahajMoney.com.

Disasters like these can devastate homeowners whose life savings are tied to property, but who often lack adequate insurance.“Climate change has led to an increase in the frequency, severity, and scale of natural disasters worldwide.