Following two destructive Decembers — we are referring to the December Deluge of 2015 and cyclone Vardah this December — Sabari Terrace Flat Owners Association on Old Mahabalipuram Road is exploring the option of finding insurance for apartment complexes, covering facilities in common areas including lifts and gensets.
Individually, some people have home insurance, but insurance for common areas in apartment complexes remains a less-trodden road.
We have spoken to a few agents, but they are not clear about how this could be done. Some other residents welfare associations say they have explored the option too, but nothing has crystallised yet. Some of them have resigned themselves to the situation: ‘Flood is often a one-time thing; let us carry out repairs and get on with life.’ Following Vardah, at Sabari Terrace, around a lakh of rupees was spent on repairs. This time, water came from the ceiling and not the ground.
Then people said we have to really look at insurance.
I have heard of such insurance in Mumbai and Pune. Some of the newer apartment complexes are ensuring insurance cover for their common areas. But none on OMR seems to have done it.
This may be difficult, but not impossible.
( Harsha Koda is the secretary of Sabari Terrace Flat Owners Association and coordinator of Federation of OMR Residents Association )
Published - December 30, 2016 01:11 pm IST
