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August 12, 2020
Frequent low-intensity earthquakes are prompting people living in the National Capital Region (NCR) to look for home insurance, according to a survey. According to a report by the National Disaster Management Authority, 59% of India is vulnerable to moderate-to-major earthquakes.
More than 11,000 home owners were surveyed to gain an understanding of people’s attitude towards home insurance. Five out of 10 respondents in Delhi said that earthquakes have made them anxious enough to think about buying home insurance while 35% of the respondents in NCR have home insurance.
Survey findings show however that home insurance is not the first insurance product on most people’s “To Buy” list as 73% of the respondents across India and 57% in Delhi-NCR said that they have so far not considered buying home insurance.