by What is Home Insurance in Malaysia?
Home insurance in Malaysia is a type of insurance that protects your house and sometimes the contents inside it (like furniture, appliances, etc.) against damage or loss caused by certain events, such as:
- Fire ๐ฅ
- Floods ๐
- Theft ๐ช๐จ
- Burglary
- Storms or lightning โก
- Burst pipes or water damage ๐ฟ
- Types of Home Insurance in Malaysia
- There are mainly two types:
- Fire Insurance / Basic Home Insurance
- This is usually required when you take a home loan.
- Covers only the building structure (walls, roof, etc.) against fire, lightning, or explosions.
- Very basic and doesnโt cover things like furniture or personal items.
- Houseowner / Householder Insurance
Why Do You Need It?
- To protect your investment (your home is probably one of your biggest assets).
- For peace of mind in case something unexpected happens.
- Required by banks if you have a mortgage.
