When buying a house, it would be nice if you didn’t ignore home insurance. This is useful as protection, if the property is damaged due to things that are not desirable.
Home insurance provides protection against the risk of loss due to fire, lightning strike, plane crash, and natural disasters. The protection provided is certainly based on an agreement.
In addition to covering the cost of building damage, usually home insurance will replace the total assets in it.
Legal Basis of Insurance
The Importance of Having Home Insurance Being a participant in home insurance has great benefits. But before choosing an insurance product, you should first know the legal basis of this type of insurance. Insurance law is a written regulation that binds two parties, namely the policyholder and the insurance provider company. Both are bound by a mutually agreed upon agreement.
There are five basic insurance laws that apply in Indonesia, namely:
- Law No. 2 of 1992 concerning Insurance Business
- Criminal Law Act (KUHP) Article 1320 and Article 1774
- The Commercial Law Code (KUHD) Chapter 9 Article 246
- Government Regulation (PP) No.73 of 1992
- Government Regulation No. 63 of 1999
- After reviewing the legal basis of insurance, here are three of the best home insurance recommendations in Indonesia.
Best Home Insurance Recommendations
PT Axa Mandiri Financial Services or AXA Mandiri is a form of cooperation between PT Bank Mandiri and National Mutual International.
Having been present for more than 17 years in Indonesia, AXA Mandiri is one of the best home insurance options.
AXA Mandiri provides protection against the risk of loss of property or assets, as well as loss of guaranteed company production.
There are several risks guaranteed by AXA Mandiri, including:
- Damage from fire, lightning strike, explosion, falling aircraft and smoke
- Damage from Natural Disasters
- Losses due to theft and robbery
But before claiming the loss, make sure the minimum insurance coverage period has been running for 1 year. The form of change itself uses rupiah or USD currency, as well as distribution channels through banks and brokers.
Allianz is the best home insurance that you can choose next. One of the insurance policies presented by this company is RumahKu Plus, which provides compensation of up to IDR 20 billion.
The value offered is quite high, when compared to other company policies. Not only that, Allianz also provides temporary accommodation costs, personal legal liability, and death benefits.
The difference between the two is:
- Houseowner: provides protection for buildings, including walls, roofs, floors, garages, and residential fences.
- Householder: provides protection for the contents of a residential building, including electronic equipment and furniture.
My Home Insurance also covers several risks, namely damage due to floods, hurricanes, storms, volcanic eruptions, and earthquakes.
While the risks that are not guaranteed by insurance, are:
- War damage
- Rebellion Damage
- melee damage
- Taking power
- Seizure and damages taking based on a lawful government order
- Damage from nuclear weapons
For the time of the claim, you can report to Allianz in writing, then send the necessary claims supporting documents. Pay attention to the claim deadline listed, make sure it is in accordance with the policy provisions.
Sinar Mas is one of the best home insurance companies in Indonesia, which has been established since 1985. This company has a Simas Rumah Efficient insurance policy that can provide guarantees for homes and household furniture.
Some of the risks covered by this insurance product are:
- Fires, lightning strikes, explosions, and plane crashes
- Riots, riots, terrorism and sabotage
- Earthquakes, volcanic eruptions and tsunamis
- Floods, storms, hurricanes, smoke and water damage
- Burglary and theft
In addition, Sinar Mas will also provide reimbursement for temporary housing costs if the house is uninhabitable for 3×24 hours. Thus a review of the best home insurance that you can use as a reference.