Here's a list of helpful home insurance tips especially for first-time homeowners in Malaysia!
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. Basic Home Fire Policy
As simple as it sounds, this home fire policy only covers the house building in the event of loss or damage by fire, lightning, or explosion. This means that your home contents, valuables, and belongings are NOT covered should anything happen.
2. Homeowner Policy
This policy, on the other hand, provides additional coverage compared to the basic fire policy. The coverage includes, for example, damages to roof, walls, fixtures, fittings, or a storage space outside your house due to flooding, burst pipes or other eventualities.
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!
It is designed to secure your valuable contents and belongings from damages caused by fire, lightning, flood, burst pipes, and other natural disasters.
Some of the benefits you are entitled to when you purchase a home contents insurance plan include replacing the damaged home items with new ones, protecting your electronics or gadgets against accidental damage as well as protecting your personal belongings, jewelry and watches, anywhere around the world.
AXA 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, AXA Home Insurance plan also allows you to extend your coverage with additional coverage against landslides.
To learn more, speak to our AXA staff/agent so we can recommend the right protection for you!
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