This insurance provides Homeowners Building Insurance and Home Contents & Personal Assets Insurance. It is designed to offer financial protection against natural disasters, theft, and accidental damage.
Homeowners Building Insurance
This cover focuses on the physical structure of your house. It ensures that the "shell" of your home is protected against major perils that could lead to significant financial loss. This is the foundation of property protection and typically includes:
- Structural Damage: Coverage for the walls, roof, floors, and permanent fixtures against fire, lightning, explosions, or storms.
- Natural Perils: Protection against earthquakes, floods, and landslides (subject to regional availability).
- Alternative Accommodation: If your home becomes uninhabitable due to a covered peril, the policy may pay for your temporary relocation costs.
- Public Liability: Coverage for legal costs and damages if a third party is injured or their property is damaged while on your premises.
- Impact Damage: Coverage for damage caused by falling trees, collapsing poles, or vehicle impact.
Home Contents & Personal Assets Insurance
This covers the "soul" of the home—the items that make it yours. It protects your furniture, electronics, and personal valuables under a comprehensive sum insured based on the replacement value of your goods. This cover is the most versatile option for a household and includes:
- Theft and Burglary: Protection for your belongings in the event of a break-in or attempted theft.
- All-Risks Cover: Optional extension to cover portable items (like laptops, jewelry, or cameras) even when you take them outside the home.
- Electronic Equipment Breakdown: Specific protection for expensive appliances against sudden electrical or mechanical failure.
- Domestic Employee Protection: Coverage for medical expenses or liability in the event a domestic worker is injured while performing their duties.
- New Purchase Inclusion: Flexibility to update your inventory list mid-term to include new high-value acquisitions.
- Replacement Value Basis: Claims are often settled based on the cost of buying a new item today, rather than a depreciated "used" value.