Megasports4u.com – Housing insurance is an insurance product that offers protection for your home and the contents in it from various risks, such as fire, theft, natural disasters, and others.
Housing insurance can help you reduce financial losses if undesirable things happen to your home.
However, many people are still confused or hesitant about buying housing insurance because they don’t understand the benefits, terms and claims process.
For this reason, we have summarized several questions frequently asked by prospective housing insurance customers and the answers below.
1. What are the benefits of housing insurance?
Housing insurance has several benefits, including:
- Providing compensation for damage to or loss of the house and its contents due to risks guaranteed by the policy, such as fire, theft, natural disasters, and others.
- Provide additional fees for temporary housing rental costs, cleaning costs, shipping costs for remaining items, and other costs incurred due to risks guaranteed by the policy.
- Provides legal protection if you are sued by a third party for damage or injury caused by risks covered by the policy.
- Provide consultation and emergency assistance if you experience difficulties or crises due to risks covered by the policy.
2. What are the requirements for purchasing housing insurance?
The conditions for purchasing housing insurance are:
- You must have ownership or rental rights to the house to be insured.
- You must provide correct and complete information about the house and the contents in it, such as location, area, type of building, sum insured, and others.
- You must pay insurance premiums in accordance with the conditions set by the insurance company.
- You must sign the insurance policy as proof of the agreement between you and the insurance company.
3. How do I submit a housing insurance claim?
How to submit a housing insurance claim is:
- You must immediately report the incident that caused damage or loss of the house and contents to the insurance company within a maximum of 3×24 hours after the incident.
- You must fill out a claim form and attach supporting documents, such as a statement from the authorities, photos of damage or loss, purchase receipt or invoice for lost or damaged items, and others.
- You must let the insurance company carry out a survey or assessment of the damage or loss to the house and its contents.
- You must wait for the verification and claim approval process from the insurance company.
- You will receive compensation according to the insurance value and insurance policy provisions.
4. What factors influence the amount of housing insurance premiums?
Factors that influence the amount of housing insurance premiums are:
- The sum insured, namely the estimated value of the house and its contents that will be replaced in the event of damage or loss due to risks guaranteed by the policy. This coverage value can be determined by yourself or by the insurance company based on market assessments.
- Type of protection, namely the type of risk that will be guaranteed by the policy. This type of protection can be standard (covering only fire, explosion, lightning and smoke risks) or comprehensive (covering standard risks plus other risks, such as theft, natural disasters, riots, etc.).
- House location, namely the geographical location of the house to be insured. The location of this house can affect the level of risk faced by the house, such as the possibility of natural disasters, crime or social disturbances.
- Characteristics of the house, namely the physical characteristics of the house to be insured, such as area, type of building, construction materials, age of the building, condition of the building, and others. The characteristics of this house can affect the level of vulnerability or resistance of the house to the risks covered by the policy.
5. What things are not covered by housing insurance?
Things that are not covered by housing insurance are:
- Damage to or loss of the house and its contents due to risks that are not covered by the policy, such as war, sabotage, strikes, terrorism, counterfeiting, and others.
- Damage to or loss of the house and the contents in it due to negligence or intention of yourself or the people who live with you.
- Damage or loss of the house and its contents due to use that is not in accordance with its function or designation.
- Damage to or loss of the house and its contents due to construction, renovation, repair or maintenance.
- Damage to or loss of the house and its contents due to chemical, biological, radioactive or electromagnetic influences.