Home insurance policies ensure that you are properly compensated in circumstances beyond your control. For a more comprehensive coverage, insurance companies take into consideration a lot of factors when taking a quote on your rates. After all, different homes undergo different states and maintenance needs.
Home Protect Plus, a homeowners insurance in the Philippines from Malayan, provides unbeatable protection for your home. And because we want to provide insurance policies that will fit your property like a glove, many factors are put into consideration before coming up with a policy quotation, such as:
Age and construction of your home
Before starting off any home renovation project, the first thing your contractor needs to know is if your insurance covers home improvement and repair. This will let them know that your property value will be covered after the construction process. As a comprehensive home insurance in the Philippines, Home Protect Plus extends its policies to home renovation projects such as alterations and repairs, architect and surveyor fees and other professional fees that will cost a fortune without a reliable home insurance provider.
Your property’s location
Homes that are near fire stations pay less in homeowners insurance because having the fire department near your property will keep your home safer in case of emergency. Homes that are near lakes and beaches affects the price and coverage of your insurance for there is a risk of flooding. Fortunately, Home Protect Plus includes wide range of benefits, including damage due to typhoon and flood, as well as bursting or overflowing of water tanks, pipelines and fittings.
Home based businesses
If you work from home, you may need coverage for the equipment and materials to be used in your enterprise. Home based businesses such as sari-sari stores can be insured under Malayan’s Business Protect which is specially designed for business of any nature.
Home insurance premium rates in the Philippines go up and down depending on the state the property being insured is in. Aside from your claims history, insurance companies use different factors when setting your home insurance rates. Malayan Insurance put extra care when providing quotes to clients so that the benefits they reap from their home protection is worth every cent.