One model of insurance that is currently widely used plus specifically used to protect property such as houses, shop houses or other buildings is home insurance.
Even though it is not as well known as life insurance plus health insurance, home insurance is also well known plus widely used by people, you know !Want to know more about home insurance? Here’s more.
Definition of Home Insurance
Home insurance is insurance that provides protection against losses resulting from fire, theft, or damage caused by natural disasters.
By having home insurance, you can also have protection if losses arise due to natural disasters, such as floods, house fires, or acts of theft.
Buying home insurance, you can minimize the costs incurred for home repairs because these costs will later be borne by the insurance company.
In addition, having home insurance will also provide protection for items in the property, protect valuable art items in the house, provide protection if:
- Reducing the risk of loss when a disaster occurs
- There was a lawsuit
- Maintain the value of your home or property
- Guaranteed risk of theft or robbery
- Maintain the value of the house
- Become a condition for applying for a loan
- Provide temporary accommodation.
More importantly, home insurance will make you feel comfortable plus safe.
Types of Home Insurance
In home insurance, there are several types of protection that you can choose based on your needs or the amount of premium offered by the insurance company. The following are the types of insurance that exist today:
- Property All Risk
This is a model of fire insurance that is unnamed perils, which provides guarantees for all risks that occur to the insured property plus or interests, except for the risks listed in the exclusions, namely:
War,
Terrorism
Nuclear plus radioactive
Lateness,
Loss of market sharing or business interruption
Intentional
Employee dishonesty
Mechanical plus boiler damage
Pollution or contamination. - Fire insurance
In general, the object of coverage in fire insurance is property that can be in the form of buildings including furniture/equipment, machinery, inventory (stock), merchandise, plus goods that are not specifically excluded in policy exclusions .The insured or users of fire insurance are Individuals or companies that own residential buildings, offices, shops, hospitals, hotels, factories, warehouses plus other buildings, Home mortgage lending bank
Fire insurance can not only be used during a fire accident, but there are special conditions that will also provide protection for your assets plus investments.
For example, riots, lightning strikes, floods or plane crashes. - Indonesian Fire Insurance Standard Policy (PSAKI)
This insurance is a standard policy issued by the Indonesian General Insurance Association (AAUI) as a form of fire insurance service.
The benefit of this property insurance produk is to provide protection for insured property plus or interests that are directly caused by:Fire
Lightning
Explosion
Plane crash
Smoke
Flood Insurance
So, when a flood arrives, you only need to claim the flood that hit your home to the insurance.
How to Claim Home Insurance
To claim home insurance, there are various processes that you need to understand, as explained below:
1. Report Damage Events As Soon As Possible
Immediately report incidents that occur (eg floods) to the insurer as soon as possible. Reports can be made by letter, facsimile or via telpon or visit the insurance office directly.
2. Make a Loss Report due to Fire
After reporting the fire, next you also have to fill out plus complete a report or written statement regarding the loss or damage caused by the disaster you experienced. Usually the forms that need to be filled out are related to:
Place, date plus time of occurrence of damage
- Cause of damage
- The amount of the insured’s loss is complemented by everything that is burned, destroyed, lost, damaged, plus can still be saved
- Other data that according to the insured needs to be submitted to the insurer (the insurer)
- Don’t forget to also prepare other claim supporting documents to the insurer. Such as notebooks, photocopies of KTP, insurance policy documents, photos of loss/lost plus damaged goods, reports from BMG plus so on.
3. Stages of Policy Identification
After the insurer gets all the reports along with the documents needed. Next, the insurance company will immediately identify the validity of the policy. There are at least 3 pieces of data that will be sought at this stage, namely:
- Does the insurer have an interest in the object that was damaged
- Whether the damage occurs within the coverage period
- Whether the premium has been paid or paid.
4. Examination of Claims by Insurance Companies
After the police identification results are valid. The next insurance company will conduct research in the field to find out the true events.
- There is some dasar data that will be traced by the insurer, namely:
- The cause of the damage
- The place where the damage occurred
- The amount of loss suffered
- Total price of the remaining buildings/goods/machinery that are not burnt/damaged
When the claim has been deemed valid. The insurer will notify the customer of how much compensation will be paid which is the responsibility of the insurer.
5. Result of Claim Submission
After obtaining an agreement regarding the amount of compensation, the insurer will later prepare a claim payment for you. Compensation payments are made at the latest in accordance with the grace period specified in the policy or according to the agreement.
Tips for Choosing Home Insurance
Currently there are many insurance companies that provide home insurance services. However, considering the importance of the protection that you will get from a home insurance service, it is only natural for you to consider this matter very carefully.
The following are tips on choosing home insurance that can be taken into consideration:
1. Choose an insurance company that has been registered plus supervised by (Financial Services Authority).
Find an insurance company that has good credibility plus reputation, this will guarantee the layanan you will get from them. Only use insurance companies that are trusted plus can meet the need for qualified insurance services.
2. Using the right policy plus as needed
Make sure you know well, the contents of the entire insurance policy that will be purchased plus used. If you find that you are having problems studying the contents of the policy, then it is better to ask an expert or an insurance broker.
3. Select Adequate Coverage
Carefully calculate plus consider each coverage component that will be obtained, that way you can get the maximum benefit for buying the insurance you use.
Protect Your Beloved Property to the Maximum
As an asset of high value, it is only natural that the house is equipped with insurance protection. Apart from giving you a sense of security, insurance also protects you from various financial risks that you might experience one day.
Don’t be reluctant to pay a number of premiums in home insurance that you buy, this will be directly proportional to the protection benefits you will get.
