Becoming a victim of burglary or fire is not a choice, but prevention is. With Allianz Home Shield, your household contents and personal effects will be guarded against these perils.
What do I need to know about Allianz Home Shield?
Allianz Home Shield is a home insurance plan that protects your household contents and personal effects from loss and damage due to fire* and theft.
Whether you are a houseowner or tenant, Allianz Home Shield offers to compensate for loss and damages on your insured Household Contents for up to RM20,000; and a maximum of RM4,000 for Personal Effects.
What are the key benefits of Allianz Home Shield?
As this is a Household Contents insurance, only your properties are insured under this plan. There are two main perils covered under this Home Shield: Fire* and theft (accompanied by forcible and violent entry).
In extension to that, your personal effects (designer watches, jewellery etc) can also be insured from loss and damage under this home insurance.
Can I add on coverage to my Home Shield insurance plan?
Additional benefits are there for its intended purpose, and usually payable over an extra premium.
Let’s say you want to hire a cleaning service after your house got wrecked by fire or burglary, Allianz Home Shield can cover the cost of hiring domestic workers for this purpose.
However, you should always exercise prudent as adding on unnecessary risks will increase your premium, which is potentially variable in pricing every year.
How much premium do I have to pay?
Your home insurance premium will depend on the type of your residence (landed or flat / apartments), type of constructions, cover selected and the sum insured, including a commission of 15% paid to the insurance agent.
In addition, you will also need to pay for a Stamp Duty of RM10 and a 6% GST. The premium charged follows the standard minimum rate in accordance with the Malaysia Fire Insurance Tariff.
How much should I insure my home and valuable contents?
The rules of thumb to purchasing the right home insurance plan is knowing the appropriate amount to insure your house and personal belongings. It is worth noting that you should always cover your house based on the market value of your property at the time of loss and damage.
In other words, your total sum insured should correspond to the cost of rebuilding of your house and replacing its contents. You may also select to insure your property based on the Market Value (equivalent to the depreciated value of lost / damaged items) or Reinstatement Value basis.
Always check with your insurance agent regarding this matter to avoid being underinsured or paying too much.
Can I cancel my home insurance policy?
Yes, you may cancel your home insurance policy. However, prior to cancellation, you should notify Allianz General Insurance Company (Malaysia) Berhad by way of a written notice. Upon cancellation, you will receive a partial refund of the premium provided of which you have not made any claim during the insurance period.
all events under named perils including lightning, explosion, impact cover, flood, burst water pipe etc