Centre planning for Home Insurance scheme: Rs 3 lakh coverage for damage caused by natural calamities - check details

After giving protection to the lives of crores of people through Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana, now the central government is preparing to launch an insurance scheme for your home.

According to the information received from the sources, the central government will provide insurance coverage of Rs 3,00,000 to cover the damage caused to the homes of people during natural calamities like flood, earthquake through the Home Insurance Scheme.

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Along with this coverage of up to Rs 3,00,000 will be for the things or materials kept in the home. Also, an amount of Rs 3 lakh each will be given to two members of the family availing the personal accident cover policy.

The scheme of the central government will be through general insurance companies and its premium will be linked to the bank account of the people.

As per the information, quotation per policy by general insurance companies has been given above Rs 1,000 but the government wants to keep the premium of this policy close to Rs 500.

The central government is planning this scheme on a large scale with the aim of providing security cover to the people against the loss due to heavy rains and other natural calamities.