Kuala Lumpur, 24 January 2025 – The recent wildfires that ravaged parts of Los Angeles have left many devasted without a home as acres of township and neighbourhoods have been burnt down to ground. This shines the light on the risk of fire obliteration to homes, which is commonly overlooked by homeowners.
In fact, the Malaysian Fire and Rescue Dept. received 34,389 distress calls for fire in 2023 with an estimated loss of RM 2.6 billion. However, more than 50% of Malaysian homeowners still choose to leave their homes uninsured, making them financially vulnerable if a fire occurs.
“Homeowners who do have fire insurance typically have the one included in their housing loan. However, this coverage is limited as most of them only protect the building structure itself while high-value household contents like sofas, TVs, washing machines, computers, beds, and jewellery are left uninsured.” explained Horst Habbig, Chief Sales Officer of Allianz General Insurance Company (Malaysia) Berhad.
“Home Insurance in Malaysia typically consists of coverage on the building and the content. The coverage is not just limited to fire damage but it also safeguards your home building and contents from a wide range of risks such as floods and theft. Homeowners should take the time to thoroughly review their policies, ensuring they have adequate coverage that aligns with their budget and needs”, continued Horst.
Whether you are a homeowner residing in your property or a landlord renting out your property to a tenant, Allianz General offers a wide range of coverage add-ons to suit your protection needs, such as the HomeFix coverage which covers home repairs costs as well as landlord insurance which covers malicious damage by a tenant or runaway tenant. These add-ons can be purchased on top of the Building (HouseOwner) or Contents (HouseHolder) coverage under the Allianz Smart Home Cover policy.
Depending on your budget, you have the flexibility to choose between an annual plan with yearly renewals or a multi-year plan, where you pay a single premium for a hassle-free three-year coverage while enjoying a lower premium across all components.
Upgrade your fire insurance to a comprehensive protection to ensure maximum coverage and more importantly, peace of mind for you.
To learn more about Smart Home Cover, visit https://www.allianz.com.my/personal/home-motor-and-travel/home/smart-home-cover.html
This content is provided by Allianz Malaysia Berhad
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