Here's everything to know about firecracker liability insurance in India
What's the story
India is a land of vibrant festivals, and firecrackers are an integral part of celebrations, adding a touch of sparkle to the festivities.
However, firecracker mishaps can result in injuries and property damage, casting a shadow over the joyous occasion.
Hence, firecracker liability insurance becomes crucial, providing a safety net against unexpected incidents arising from firecracker use.
This article aims to decode firecracker liability insurance for the layman.
Basics
What is firecracker liability insurance?
Firecracker liability insurance is a policy that covers you against legal liabilities resulting from accidents caused by firecrackers.
This includes damage to property and injuries to individuals during festive celebrations like Diwali.
The policy covers legal costs and compensation that you may have to pay if found legally responsible for the damages.
Importance
Why you need it
Firecracker mishaps can result in unexpected accidents, injuring not only the person using them but also bystanders and damaging surrounding properties.
Such incidents can lead to significant financial strain due to medical expenses or costs associated with repairing damaged property.
By securing a firecracker liability insurance, you ensure that you are financially covered against such eventualities.
Scope
Coverage details
Usually, this insurance covers bodily injury and property damage resulting from firework displays or accidents involving fireworks used in festivities.
One should carefully read the policy document as the coverage can differ among various insurers.
Some policies may also cover the legal expenses you incur while defending yourself against claims arising from fireworks-related incidents.
Selection
How to choose the right policy
When choosing a firecracker liability insurance policy, pay attention to the coverage limit, premium amount, policy exclusions, and claim settlement ratio of the insurance company.
Choose a policy that provides extensive coverage at a reasonable premium.
Also, ensure the policy covers third-party liabilities. This is important for events anticipating large gatherings.
Safety first
Tips for safe use of fireworks
Firework safety is key. Purchase from authorized vendors and adhere to local regulations.
Never allow children to ignite fireworks unattended. Maintain a supply of water or sand on hand for emergencies.
Douse spent fireworks in water before discarding. With these measures and a liability insurance, you can celebrate festivals without the financial burden of firecracker mishaps.