Allianz General Insurance Company (Malaysia) Bhd has launched Smart Home Cover, a modular home insurance policy that allows customers to choose the various home coverages needed to best protect their property.
The policy has five components that homeowners can choose from:
- HouseOwner – Basic building cover that protects the residential structure from damage.
- HouseHolder – Household contents insurance.
- Mortgage Loan Instalment Protection – This covers the house’s monthly amortisation if it is rendered uninhabitable for more than 72 hours by an insured event, or an ordered evacuation by a local authority. It is also applicable if the homeowner suffers accidental death or total permanent disability.
- Home Fix – Covers reimbursements for repairing plumbing, doors, locks, and windows in case of theft. It will also cover domestic help allowance and any home repair or service solicited through Allianz partners.
- Landlord Insurance – This protects owners renting out their residential properties from damage caused by unruly tenants. The legal cost of issuing a letter of demand will be covered by Allianz.
During the product launch,
Zakri Khir, CEO of Allianz General Malaysia asked: “Why is it that only two million homes in Malaysia are insured? Cost and rigid home insurance products have always been the biggest factors that hold a customer back.”
He added: “Our customers have always been our priority. So we put them at the heart of this product and have come up with a flexible home insurance that is customisable, value-for-money and, I dare say, probably the only home insurance you will ever need.”
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