COVID-19 pandemic: Top Four Key Insurance Policies to have by Your Side

As far as pandemics are concerned, the world has seen many in the past and the latest one to add to the list is the ongoing COVID-19 pandemic, which started back in 2019. Every one of these pandemics have been uncertain and creates new difficulties without fail. In any case, one thing, which is basic over every one of these pandemics, is that they have helped us get stronger and plan for vulnerabilities with more prominent energy.

We can't generally anticipate what is going to happen in the future, however we can positively set ourselves up to limit the harm if something turns out badly. None of us foreseen that the COVID-19 pandemic will keep going so long that it will change our way of life and the sort of dangers we face. Is it conceivable to protect ourselves and limit the money related misfortunes during such difficult stretches. Opting for appropriate insurance schemes is the correct option to go for in these strategic times. Insurance can be a defense mechanism to deal with such vulnerabilities and has consistently been there to cover the dangers that we face.

While there is a requirement for changes in perspectives of individuals towards the dangers they face, here are top four types of insurance covers that you can go for and become pandemic proof.

Insurance for Health:

Your wellbeing during a pandemic is at impending danger and you can’t be sure that the pandemic won’t affect you. Health insurance is an absolute necessity as medical bills now-a-days tend to be on a higher side because of all the new medical therapies and treatments. Thus, it's smarter to have a policy of at least 4 to 5 lakh rupees and an excessive top-up cover to improve the inclusion if the base arrangement limit gets depleted. During the pandemic, even government bodies requested insurance providers to dispatch COVID-19 explicit health insurance schemes, which are easy to take-up because of their reasonableness and the sort of inclusion they offer.

Insurance for cyber security:

The pandemic instigated lockdown and people acquired a culture of work-from-home over all areas. While from one viewpoint it prompted simplicity of work and spared our movement time, the work from home culture also came with its own weaknesses particularly regarding digital protection. Because of the absence of proper infrastructure for cyber safety at home, which is generally accessible in the office, we saw expanding occurrences of digital assaults including spyware, phishing, stalking over the internet, and so on. The Indian Computer Emergency Response Team (CERT-In) has revealed that near to seven lakh digital assaults took place till August this year when contrasted with almost four lakh digital assaults in 2019. Henceforth, it's critical to have cyber insurance with you in case you fall prey to such assaults. 

Insurance for vehicles or motors:

Because of pandemic, people are avoiding public transport as much as possible and utilizing their own vehicle while traveling. Consequently, there are expanding chances of dangers to the vehicle and also accidental harms. Furthermore, because of the lockdown individuals didn't utilize their vehicle much, however that didn't imply that their vehicle didn't confront any dangers. We saw several catastrophic events in the recent past such as floods etc. Thus, it does not hurt to have motor insurance under these circumstances.

Insurance for your home:

Living inside your house may lead to more utilization of resources, which can lead to problems such as fire due to electrical failure or any other unfortunate setback. It might be a minor harm, yet can create a gigantic opening in your pocket. Therefore one must have a home insurance policy which covers all dangers by covering your house under insurance and additionally covers the contents inside the house as well, which regularly are worth more than the estimation of your home.

Bottom Line:

Always have a backup before everything goes for a crash!!