Insurance 101

A Beginners Guide to Buying Home Insurance in Malaysia

Protect your property with our beginner's guide to buying home insurance in Malaysia. Learn the benefits and choosing the right and adequate policy.

For most of us, buying a house will likely be the biggest purchase we make in life. It goes without saying that protecting such valuable assets is the next sensible step to take.

Home insurance in Malaysia provides you with a financial safety net so you can still enjoy peace of mind in the event of unprecedented loss or damage to your property and household items.

Here’s a quick crash course on the 3 main types of home insurance in Malaysia.

1.     Fire Insurance

Fire insurance for a private or residential property is a type of insurance policy that protects against fire-related damage or loss. This type of insurance is intended to protect homeowners financially in the event of a fire that damages or destroys their property.

Fire insurance typically provides the following coverage:

  • Repair or reconstruction of damaged or destroyed property
  • Personal belongings and household items lost in the fire must be replaced.
  • Liability coverage for fire-related damage to other people's property

It's important to remember that fire insurance policies have exclusions and limitations, and that coverage varies depending on the insurer. Before purchasing fire insurance, it is best to carefully review the policy and understand the coverage provided.

2.     Homeowner Policy

Homeowner insurance, also known as householder insurance, is a comprehensive insurance policy that protects both the property and its contents. This type of insurance is intended to protect homeowners financially in the event of various risks such as theft, fire, natural disasters, or other perils.

Homeowner insurance typically provides the following coverage:

  • Protection for the home's structure, including repair or rebuilding costs in the event of damage or destruction.
  • Personal belongings and household items such as furniture, electronics, and clothing are covered.
  • Liability coverage for property damage or bodily injury caused by the homeowner.
  • Additional living expenses, such as temporary housing and food, if the home is rendered uninhabitable as a result of a covered loss.

Homeowner insurance policies have exclusions and limitations, and coverage varies depending on the insurer. Before purchasing householder insurance, it is recommended that you carefully understand the policy and make sure that the coverage provided are explained to you thoroughly by our customer service officer or agents and partners.

3.     Home Contents Policy

If you have purchased a Basic Home Fire or Houseowner insurance plan under your housing loan, or if you have renovated your home and purchased some big-ticket household items, this type of plan could just be what you need!

Home content insurance, also known as contents insurance in Malaysia, is a type of insurance policy that protects the personal belongings and household items inside a home. This type of insurance is intended to cover the costs of repairing or replacing personal property that has been damaged or destroyed as a result of theft, fire, natural disasters, or other perils.

Home content insurance typically includes the following coverage:

  • Protection for personal belongings, such as furniture, electronics, clothing, and jewelry.
  • Coverage for loss or damage to personal property, either on or off the premises.
  • Reimbursement for the cost of temporary housing and food if the home is uninhabitable due to a covered loss.

Our home insurance is a comprehensive plan that promises a simple way of protecting both your home and valuable contents. With an affordable premium from as low as RM0.24/day, it is customizable to your needs, budget, and requirements, whether for landed property, apartment or condominium. If you live in a landslide-prone area, this home insurance plan also allows you to extend your coverage with additional coverage against landslides.

To learn more, speak to our staff/agent so we can recommend the right protection for you!

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