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Home policy:household policy (settle of claim (insurable interest, no…
Home policy:household policy
Definition
:check:building only policies
:check:contents only policies
:check:building and contents insurance together within one policy
:check:combined policies covered buildings and contents
types of payment under household policy
1.Replacement value
covers only the value possessions :star:
New for old
covered for the full cost of replacing lost :star:
scope of cover
relates to movable possessions
cover the financial cost of repairing
Main perils cover
:checkered_flag:fire,lightning,thunderbolt
:checkered_flag:explosion
impact any building
:checkered_flag:theft
:checkered_flag:cyclone
:checkered_flag:earthquake
:checkered_flag:flood
A)Loss and damage to contents
what is covered
shall be greater than 5% the total sum insured
not exceed one third of total sum insured contents
what not covered
ceiling,wallpaper or anything similiar
property more specific policies
B)Contents of temporarily removed
what is covered
covered insured event content remove from private dwealing
limit benefit 15% of total sum insured contents
C)Breakage to mirrors
what is covered
whilst in Private Dwelling
limit liability RM 500 per piece accident
what not covered
hand mirror
D) Compensation for death
what is covered
:pencil2:due to external caused by thieves or fire
:pencil2: within 3 months such injury
:pencil2:limit benefit total sum insured on contents
E) Servants property
what is covered
:star:Geographical area state on schedule
:star:contents not insured under another policies
what is not coverd
:green_cross:cash,currency notes,bank notes
General Exception 1
:fountain_pen:war,invasion,civil war
:fountain_pen:military,insurrection,rebellion
:fountain_pen:any act of terrorism
General Exception 2
:red_flag:caused by cessation work,confiscation
:red_flag:contributed by nuclear weapon material
:red_flag:contributed by ionizing raditions
General Exception 3
:red_cross: not covered damage any kind except rent insurance
clause
the insured under the policy
amount not exceeding 15% of sum insured
settle of claim
insurable interest
no right of claim from any other person
limit 3 guest only
market value(building contractor,manufacturer,authorised broker)
our maximum liability
average
excess
subrogation
fraud
make a claim
1)Notice and proof of claim
2) Building plan
3)Liability plans