Allianz Malaysia introduces modular home insurance solution

Customisable insurance policy allows customers to select the protections they want for their property

Allianz Malaysia introduces modular home insurance solution

Insurance News

By Gabriel Olano

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:
  1. HouseOwner – Basic building cover that protects the residential structure from damage.
  2. HouseHolder – Household contents insurance.
  3. 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.
  4. 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.
  5. 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.”

Related stories:
Internet of Things boosting insurance accuracy
Allianz Malaysia blocks US$1.3m in bogus claims
Allianz Malaysia suffers 8% net profit drop for the first quarter

Keep up with the latest news and events

Join our mailing list, it’s free!