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How to secure yourself from firework losses

Published Oct 31, 2016, 7:09 am IST
Updated Oct 31, 2016, 7:09 am IST
ireworks indicate celebrations. but they can also cause loss to your property. Find out how to protect yourself.
Representational image
 Representational image

Diwali is for tradition, fun, togetherness, and lights. Diwali celebrations apart, the festivities put you at high risk from fireworks-induced losses and injuries.

Everything from your home and commercial establishment to your car or other property in proximity can potentially be at risk on Diwali night with so many stray firecrackers or carelessly installed electrical lightings that inevitably characterize the festivities.


While Diwali and fireworks have an age-old tradition, you can seek adequate protective cover to ensure safety of your homes, vehicles, and self from any fire-related accidents.

Here is a checklist to ensure your Diwali is safe and joyful, without worrying about any accidental fires or loss of property and injuries.

Consider home insurance to cover against fire hazards
No Diwali celebration is complete without the bursting crackers and fireworks. Every year, there are incidents of stray fires reported across India that result in loss of life and property. Even if you do not play with fireworks, a random cracker can be potentially dangerous to your home.


As a protective measure, home insurance provides safety from fire risks. Home insurance comes with a standard fire policy, which covers losses or damages caused by accidental fires including ones due to stray Diwali crackers.  

Depending on your need, you can opt for a higher protective component of home insurance including protection against house break and insurance for valuable content. Know that a standard fire cover policy is part of the basic home insurance plan. Also, you can opt for home insurance even if you live in a rented accommodation, making it easy to safeguard your home from any fires this Diwali. 


Opt for gold insurance to protect your jewelry
You are likely to have gold ornaments and physical gold either as part of your Diwali puja or as part of the festive attire of the family. As a tribute to goddess Laxmi, gold is integral to the celebration of Diwali.

To avoid any loss of precious gold due to theft or any other loss, you can either seek gold jewellery insurance or opt for a home insurance with an additional insurance for your valuable content. This may increase your overall premium for home insurance but offer a protection for home and your precious gold jewelry at the same time.  


Know that you will need a valuation certification from a reliable jeweler to affirm the cost of your gold jewelry before you seek an insurance cover.

Ensure your car has adequate auto insurance cover
If you are relying just on a third party automobile cover for your car, you are putting your vehicle at high risk. Any stray fire crackers can be a potential fire hazard for your car. The risk is substantially higher if you are parking your car on the street instead of in a personal garage.

Seek a comprehensive car insurance cover to ensure your car is fully protected against any Diwali-related fire hazards. Having a comprehensive car insurance should be doubled up by maintaining adequate safety measures including carrying a fire extinguisher in your car. Also, consider parking your car in secure commercial parking lots on Diwali night to ensure safety from any stray fire crackers.


Ensure health cover against burn injuries
This Diwali, gift your family a health insurance plan that will offer protection against any burn-related injuries as well as keep their health-related expenses covered for the entire year. Diwali fireworks can not only cause burn-related injuries, but also the polluted environment can lead to asthma attacks, heart related ailments, respiratory disorders, and skin diseases.

As a 30-35 year old individual with a spouse of similar age and a child in the age group of 0-5 years old, you can get an adequate family health insurance plan starting from Rs 11,500 premium per annum. This is cheaper than any gadgets that you may be planning to gift your family this festive season. Diwali is a festival that is associated with light, fun, and togetherness. This Diwali, make sure it stays that way by ensuring adequate protective cover for your family, home, vehicles, and property.


(The writer is the CEO of