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Your house is the biggest purchase you will ever make in your life. Yet most of us don’t come around to protecting our homes against plausible mishaps like fire as we should. 

And there is no smoke without fire. It was recently reported that in a span of five years (2010-2014), the country spent a total of RM7.4 billion due to fires in residential areas, with RM2.8 billion spent in 2014 alone.  

With that said Allianz General Insurance Company (Malaysia) Berhad’s Head of Commercial Business, John Yep answers five frequently asked questions that will help you understand the importance of fire insurance.

“For most, buying fire insurance is seen as an option, not a necessity. However, fire is one of the most common mishaps that can occur due to various reasons and it is advisable you always ensure that your property and contents are protected should something untoward happen. Most importantly, it can help families save thousands of ringgit and also help rebuild lives,” said John.

Here are five questions to get you fired up over fire insurance:

Who can buy a fire insurance policy? 
So long as you are the legal owner of a landed residential property, flat, apartment or even a commercial property, you can buy fire insurance to protect your asset against loss or damages caused by fire. 

Why do I need fire insurance in the first place? 
Simple - it buys you and your family peace of mind knowing that your home or business and its contents is protected against losses or damages resulting for a fire. And depending on the product, some also offer protection against theft or other natural disasters.    

What type of fire insurance is out there? 
Take for instance Allianz. In hopes of simply providing the best value for customers, Allianz offers various products that offer fire cover - HouseOwner and HouseHolder, Home Shield and Allianz KampungKu (for kampung houses in the East Coast) covers for individuals; as well as Fire Insurance and Fire Consequential Loss Insurance for businesses. HouseOwner and HouseHolder is the most comprehensive product a home owner can purchase. HouseOwner plan covers your house structure including the walls, roof, fixtures and fittings, garages, gates and fences, while the HouseHolder plan covers your house contents like household goods, personal effects and other moveable possessions. And you can easily obtain an insurance quote through Allianz Online quote.allianz.com.my. 

How do I know what product is suited for my property? 
For private apartments, ensure that you buy additional cover if you have made renovations or improvements to your home as this may not be covered by the fire insurance policy take up by your building’s management.  Also, owners of landed property and private apartments without a strata title (ownership) should look into buying fire insurance to protect their property. 

Where can I find out more about fire insurance? 
To find out more about Allianz’s HouseOwner and HouseHolder, Home Shield and Allianz KampungKu, Fire Insurance or Fire Consequential Loss Insurance products, visit the Allianz Malaysia corporate website at allianz.com.my or contact the Allianz Customer Service Associates at 1300-88-1028 or by email at CustomerExperienceCentre@allianz.com.my 

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