Your home is likely the largest, most important investment you will make in your lifetime. It is the roof over your head and a sanctuary for your family.
Nothing beats the feeling of peace and security of your own home. Hence, it is important to take thorough steps in ensuring that your home is safe—physically and financially— from unforeseen circumstances.
In Malaysia, getting home insurance is a compulsory measure for those seeking to own a house. Most people might obtain their coverage from banks, only because it is a product they offer alongside the loans they hand out to you. Many may not know this, but you need not obtain your home insurance from banks. While it may seem more convenient to get your home insurance together with your home loan from a bank, there are actually quite a few disadvantages in the long run.
Despite it being quite common to get home insurance from banks, but those who do rarely understand what their policy does, when to make specific policy changes, and what factors into the price. This is because loan officers specialize in loans, not insurance. This means that in engaging with a bank for an insurance product, you wouldn’t get the most suited expertise to guide and help you understand your home insurance policy.
As a solution, the best move to take when planning your home insurance policy is to engage with a trusted insurance company. With Allianz, here’s how you can take full control of your home insurance policy.