Common Misconception Around Home Insurance

Common Misconception Around Home Insurance

Myths Facts
Home insurance is not important. It is just another hidden cost in the expense of owning a home.
Burglaries, accidents or damage to one’s home can happen to anyone at any unpredicted time. Getting an insurance policy for your home and its contents could protect your financial interest should anything goes wrong.
Home insurance is only for apartments, condominiums, or rented buildings.
For flats, apartments, and condominiums, it is compulsory for the management corporation (MC) of the building to ensure that the whole building is insured against fire. However, the contents of your unit will not be covered, so if you want to protect your own household contents, you can consider household insurance coverage, such as the content-focused insurance policy.
I don’t need to review the value of my home insurance. Persatuan Insurans Am Malaysia (PIAM) recommends house owner to conduct a yearly review the value of their property and belongings before renewing the policy to avoid under- or over-insurance.

Source: Ringgit Plus - 5 Home Insurance Myths You Need To Stop Believing



Now that you’ve busted these myths about home insurance, you have a clearer idea of what to look for when shopping for a home insurance plan. If you are still unsure about choosing the right insurance coverage for your home, why not choose Home Insurance from Chubb? 

Disclaimer - This content is brought to you by Chubb Insurance Malaysia Berhad (“Chubb”) as a convenience to readers and is not intended to constitute advice or recommendations upon which a reader may rely. Chubb makes no warranty or guarantee about the accuracy, completeness, or adequacy of this content. It is the responsibility of the reader to evaluate the quality and accuracy of material herein.

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