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Home Insurance Benefits

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3.0 BENEFITS OF PRODUCT

One of the most important insurance policies that customers can buy in their adult life is Home Insurance, also known as Houseowner / Householder Insurance. It is important to protect their own house because it will become the one of the largest financial investment they have made in their life. They can buy three main types of policies from the insurance company to protect their home which are basic fire policy, house owner policy and householder policy.
i. Basic Fire Policy
- Provides customer with coverage against loss or damage to insured property (i.e. house, shop and factory) caused by fire, lightning or explosion. ii. House Owner Policy
- Provides additional coverage compared to the basic fire policy. It may …show more content…

Consequently, they will get the advantages from this protection strategy and will be secured based on different sections:
i. Applicable to Houseowner’s (Building):
- Pays for loss or damage caused by any of the above perils to the building of the private dwelling house (include stables, garages and out-buildings used solely in connection therewith and on the same premises specified in the certificate) ii. Applicable to Householder’s (Contents):
- Pays for loss or damage caused by any of the above perils to the contents (includes household goods and personal effects of every description being the property of the participant or any member of the his family normally residing with him)
- Property Temporarily Removed
- Damage to Mirror other than hand mirror, by breakage whilst in the private dwelling up to RM500
- Compensation for Death of the Participant due to robbery or fire up to

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