- In the wake of recent earthquakes in the southern region of Malaysia, particularly Johor, Allianz Malaysia Berhad (Allianz Malaysia) urges the public to remain vigilant and prepared for natural disasters.
- While Malaysia is typically shielded from seismic activities due to its geographic location outside the Pacific Ring of Fire, the recent events in Johor have underscored the importance of being aware and ready for any eventuality.
- Allianz Malaysia is committed to empowering individuals and businesses with the knowledge and tools necessary to protect their assets against such unforeseen occurrences. Allianz Malaysia’s insurance solutions, including Smart Home Cover and Allianz Business Shield, are tailored to provide robust protection in a single package, eliminating the need for multiple separate policies and ensuring that Malaysians are well-equipped to face the challenges posed by natural disasters.
- "Recent events serve as a reminder that natural disasters can occur unexpectedly. At Allianz Malaysia, we are committed to providing comprehensive coverage solutions that offer peace of mind to our customers. With Smart Home Cover and Allianz Business Shield, our customers can focus on their lives and businesses, knowing that these important assets are well protected," said Sean Wang, Chief Executive Officer of Allianz Malaysia.
- Under Smart Home Cover, HouseOwners and/or HouseHolders will automatically be protected against 10 types of unexpected events ranging from natural disasters like earthquakes to incidents such as theft, without the need for further add-ons. This ensures peace of mind for homeowners, knowing their homes are safeguarded against unforeseen events.
- Homeowners are typically required by banks to obtain either Mortgage Reducing Term Assurance (MRTA) or Mortgage Level Term Assurance (MLTA) insurance as part of their loan agreement, as a safeguard in the event of death or total and permanent disability of the borrower by helping to settle the outstanding loan balance.
- However, MRTA and MLTA only cover the individual – not the property itself, and even if these policies are in place, home insurance is still essential as it provides protection for the physical structure of the house and depending on the policy, the contents too.
- Further, to ensure full and ongoing protection, homeowners should always maintain a dedicated home insurance policy regardless of their mortgage status. As homes age, they may become more susceptible to issues such as burst water pipes, which are covered under the HomeFix component of Smart Home Cover.
- Meanwhile, business owners can benefit from Allianz Business Shield, which simplifies insurance for business owners by bundling various protections such as burglary and fire coverage into a single, customisable package.
- To protect against earthquakes, business owners only need to add on 0.01% of their fire sum insured, ensuring their business assets are secure.
- The occurrence of earthquakes in Malaysia, despite its usual immunity, may be attributed to various factors including shifts in tectonic plates and the broader impacts of climate change. These developments serve as a reminder that natural disasters can strike anywhere, challenging the conventional perceptions of safety based on geographic location.
- Considering climate change and other factors contributing to these unexpected seismic activities, Allianz Malaysia encourages the public to stay informed and proactive. Here are some general tips to stay safe:
- Stay Updated: Keep abreast of the latest news and alerts regarding natural disasters.
- Evaluate Coverage: Regularly review your insurance policies to ensure you have adequate coverage for various perils.
- Customise Your Policy: Tailor your insurance coverage to suit your specific needs and circumstances.
- Allianz Malaysia remains committed to supporting the community by providing reliable and comprehensive insurance solutions. For more information on and to purchase Smart Home Cover, please visit Smart Home Cover | Home Insurance | Allianz Malaysia; for Allianz Business Shield, please visit Business Insurance for SME in Malaysia | Allianz Malaysia.
