HouseOwner Category

1. If I were to have a policy with coverage amounting to RM200,000, how much compensation would I stand to receive in the event of loss or damage to my home?

   The loss, if caused by any of the insured perils, will be paid based on the loss suffered, insured value, or market value which subject peril to excess; less the allowance for depreciation for wear & tear and underinsurance penalty (if any).

   The claimant needs to provide proof/documents to support the loss/claim i.e. police report (for civil cases), photographs of the damage, quotations or invoice of repair, historical purchase invoices, technician’s report on causation (if involving electrical items), etc.

2. Can I claim for alternative accommodation or loss of rental if the house becomes uninhabitable due to an accident?

   If the loss is caused by any of the insured perils, the insured can claim for alternative accommodation or loss of rental under Rent Insurance; only for the duration necessary for reinstatement and subject to an amount not exceeding 10% of the total Sum Insured.

3. Can I include renovations costs in the Sum Insured amount?

   A building in HouseOwner policy refers to a Private Dwelling at the premises, including all domestic offices, stables; garage, and outbuildings on the same premises used solely in connection to it and on the same premises; fixtures and fittings; walls, gates, and fences around the premises. Thus, the Insured must ensure that the Sum Insured is adequate to cover the property including renovations, fixtures, and fittings inside the premises. Otherwise, in the event of loss, the claim will be subjected to a penalty of underinsurance.

4. Can I claim on floor tiles that have suddenly cracked or popped up?

   The HouseOwner policy provides cover for loss or damage to the insured property caused by the insured perils i.e. Fire, lightning, domestic explosion, aircraft, impact by a vehicle or animal, bursting or overflowing of domestic water tanks/apparatus/pipes, theft, windstorm, earthquake/volcanic eruption and flood.

   No financial assistance will be provided if the loss was not due to the above-mentioned perils.

5. Can I claim for loss or damage caused by a guest if my homestay was insured by this policy?

   The HouseOwner/ HouseHolder policy is for Private Dwellings only. For a homestay, the appropriate policy to cover the property is a Fire policy.

6. Can I claim the cost of having to hack walls to locate and repair damaged pipes due to a burst pipe in the house?

   The HouseOwner policy provides cover for loss or damage to the insured property caused by the insured perils, in this instance — burst and overflowing water tanks/pipes/apparatus. Since the policy only covers the resultant damage directly caused by the insured perils, the cost to locate and repair the damaged pipes is not payable.

7. Can I make a claim for a stolen water pump that was located outside the premises?

   This policy provides cover for theft but only if it is accompanied by an actual forcible and violent break–in into a building or any attempted threat to. In this instance, since the water pump is located outside the building, the loss is not admissible.

HouseHolder Category

8. Why did I not receive full compensation for jewellery lost as a result of theft?

   The total value of platinum, gold, silver articles, jewellery, and furs shall be deemed not exceeding one–third of the Total Sum Insured on Contents.

   The Value of each article is limited to 5% of the Sum Insured unless specially declared as a separate item. Hence, the loss payable is assessed based on the policy limits.

9. How can the loss or damage of paintings or antiques be compensated?

   Works of art i.e. paintings, antiques, and the like have to be specifically declared, itemized and the value has to be mutually agreed on by both the Insurer and the Insured.

   A Registered Valuer’s valuation can be used to determine the value of the items. In the event of loss or damage by insured perils, the agreed value will be used to assess the loss.

10. Can cash and currency notes kept in the house be insured?

    Unless specifically declared, cash and currency notes are excluded from coverage in the policy.

11. Does the Householder policy cover the policy owner’s belongings in the event that they are stolen by a runaway maid?

    Yes, this can be insured with an additional premium.

12. How will the claim be assessed if the policy owner’s liquor collection was damaged in a fire?

    The loss payable will be based on receipts or market value, less a percentage of possible consumption before the loss.

13. Are go-kart engines covered by the HouseHolder policy?

    The HouseHolder policy excludes motor vehicles and accessories; hence this is not covered by the policy.

Other Matters

14. Who should the policy owner refer to if there is a dispute regarding the Insurer’s decision on a claim?

    The Policy owner can refer the matter to the Ombudsman for Financial Services within 6 months from the date of the Insurer's decision.