Friday, May 11, 2018

What to Consider in Getting a Property Insurance in the Philippines

My normal mode of transportation to and from work is a public jeepney, its route always passes by this old house which always caught my attention because it is old, it resembled the old house of my relatives in the province. A couple of weeks ago, that said house and the nearby properties were burnt down! I don't know the real cause of the fire, but knowing that a certain property can go down in just hours due to fire can really leave a family homeless along with their properties. 

Fire prevention month here in the Philippines falls within months of March-May which are the hottest season of the year. Preventions such as; public awareness campaign, parades, seminars along with a radio, news and television announcements are being made. Amidst, all information and precaution being implemented by individuals and groups in general, there are still inevitable causes that can cause such accidents, natural calamity can be one. 

How can we protect and preserve our properties from possible loss? 
For me, home insurance is the best investment one can have. Getting your home or your property protected can spare you from being homeless in case an emergency happens. Aside from inevitable danger or loss, considering property refurbishment can be put into the list, and help your property maintain or even add up value in the years to come. 

When we talk about insurances here in the Philippines it can be daunting at first. First things first, when you are decided to avail or get one insurance company, you should know the credibility of the insurance company. Can they provide the specifics of what you need according to your; budget, capabilities, terms and conditions, and of course the customer service feedback

A friend of mine introduced me to Malayan's property insurance in the Philippines, she discussed with me the scope and coverage of this specific product the company is offering.  

This product covers the property coverage for potential loss of the property and its contents. Damages that can occur from fire and lightning, typhoon and flood, earthquake fire and earthquake shock. The scope covers up to burglary and housebreaking, personal liability, accidental breakage of fixed glass, alterations and repairs, alternative accommodation, etc. 

A checklist is a very handy tool when you are decided to purchase a product. I can automatically eliminate items in the products that I cannot afford to buy, the pros and cons of product purchases. I can, later on, purchase added services when I am capable enough which can be an added protection to the insurance coverage. 

It is never too late to get your property protected and secured, consult your local agent online. 

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