Liga Asuransi – Dear readers, how are you? May you and your business always be in good health. A house is an asset that is coveted by many people.
The house provides a sense of security and comfort for the people who live in it. However, how to get and care for a house is not easy. Currently needed protection such as home insurance coverage. It aims to make the residents feel secure and comfortable financially.
Life, health, education, and even vehicle insurance are very familiar to the public, but have you ever heard of home insurance?
Home insurance can be concluded as insurance that provides protection against losses arising from disasters, such as fire, theft, floods, and earthquakes that hit the insured’s house.
Home insurance is divided into two types, namely Property All Risk and Indonesian Fire Insurance Standard Policies (PSAKI). In general, the difference between the two will be seen from the guarantee provided.
- Property All Risk
For home insurance, Property All Risk is a type of fire insurance that is unnamed perils or provides guarantees for all risks that occur to the insured property or interest. This type of insurance is used for non-industrial buildings.
Guarantees provided in Property All Risk insurance, namely, guarantees for protection as a result of riots, strikes, malicious acts, and riots. Coverage for natural disasters such as hurricanes, storms, floods, earthquakes, volcanic eruptions and tsunamis, landslides, ground movements, and water damage.
- Indonesian Fire Insurance Standard Policy (PSAKI)
Indonesian Fire Insurance Standard Policy (PSAKI), is a standardized insurance issued by the Indonesian General Insurance Association (AAUI). This insurance is useful for providing protection for property that has been insured.
The calculation of this insurance claim usually uses a calculation per meter for the insurer. For example, if you have a house of 100 square meters, each building can be built with a total fund of Rp. 5 million, then the deferred fund for the house is Rp. 500 million.
How to Calculate Home Insurance Premium?
Every insurance company offers various benefits and prices, and home insurance is no exception. Before buying insurance to protect your home, make sure you know all the benefits and guarantees provided by the company.
There is an insurance company that covers the building and its contents, there is also insurance that only covers the loss of the building.
To calculate the value of the premium that must be paid each year, you can multiply the property value by the premium rate offered by the company. Each insurance company has a different premium rate.
For example, your property value is IDR 1 billion and the premium rate from the insurance company you choose is 3 percent. So, the value of the premium you have to pay each year is 1,000,000,000 x 0.3% = IDR 3 million. This calculation is also the same if the insurance company covers the building and its contents.
For example, the value of your building is Rp. 1 billion, and the contents of the house are worth Rp. 300 million. Then the calculation becomes 1,300,000,000 x 0.3% = IDR 3.9 million per year. In addition to property value, location and vehicle accessibility also affect the premium price.
The location of a home will affect the price of the property, while accessibility will determine how easy it is for reinforcements to reach your home if something goes wrong.
In general, the more difficult the house is to reach, the higher the premium price will be. This is also the same as the risk of natural disasters that might be experienced by the building.
If you live in a flood-prone area, chances are that the premium price will also be higher than properties in other areas.
In addition, the build quality can also affect the premium price. Buildings with poor quality mean that they have a greater possibility of experiencing technical losses.
Benefits of Home Insurance Guarantee You Need to Know
About, what are the benefits of home insurance? Let’s look at the explanation below:
- No Loss Due to Natural Disasters Natural
disasters, such as landslides, earthquakes, hurricanes, and floods often occur suddenly which results in a number of damage to houses. However, you don’t need to be afraid of swallowing big losses. By insuring the house, at least part of the cost of home repairs will be covered by the insurance company.
For example, the cost of painting a house that is peeling off due to water immersion, replacing a fence that is carried away by the current, or buying cleaning equipment when water enters the house. Meanwhile, the remaining repair costs are the responsibility of the occupants of the house.
- There is protection when thieves enter the house.
The low level of security in the neighborhood around the residence is the main trigger for theft. If conditions like this often occur in the area where you live, then home insurance is worth a glance to make your home safer.
If at any time there is a theft and some property is lost, you can report this to the insurer. Attach a report with proof of the names of the items lost to make it easier for you when filing compensation for theft.
Filing for theft is not immediately granted but will be investigated first. Make sure the reports are accurate and reliable so that the insurer can be sure that the theft really happened at your home.
- Insurance as a condition for applying for a loan
Do you want to apply for a loan? Make sure you have home insurance first because some financial institutions make home insurance a condition for applying for a loan. With home insurance, loan funds can be disbursed immediately if they comply with the terms and conditions.
Home insurance is indirectly a guarantee if the loan cannot be paid on time. So that the potential for bad credit can be minimized as small as possible so that creditors are not at a loss for providing loans.
- The Value of the House is Maintained
When compared to other assets, the house is the most profitable asset because its selling value continues to increase. So it’s only natural that you are willing to spend a lot of money to buy a house and buy insurance products to guarantee the overall value of the house.
If one day a natural disaster occurs or a riot results in a damaged house, you don’t need to worry about the selling price of the house. By buying insurance, the selling price of the house remains high because the insurer himself wants to be responsible for repairing the damage that occurs.
Once repaired, the house will return to good condition so that the selling price will not decrease at all. Instead of losing, you actually get a profit as the selling price of the house increases.
- Safe from Lawsuits
Just imagine if for example, your house caught fire and a victim was injured, like it or not you have to be responsible for the victim’s medical expenses. Fortunately, if the house is insured, this cost will be the responsibility of the insurer as well.
If the sum insured is late paid to the victim, at least the insurer will fix this problem. So that you as an insurance customer are free from all forms of lawsuits.
- Protecting the contents of the building
It turns out that it is not only the buildings that are physically protected but also the contents of the house. This includes furniture, cooking utensils, and so on. If the house is affected by fire, flood, theft, or any incident that causes the contents of the house to be damaged or lost, then the insurance company is ready to cover some of the losses.
- Reducing Expenses
Overall, home insurance is indeed the most effective for alleviating any expenses related to damage, loss, or compensation due to an accident that happened to your home.
Getting home insurance with competitive premiums and extensive coverage is not easy, it requires a very complete financial analysis.
To get the best home insurance program, you need the services of an insurance brokers company that has the knowledge, experience, and strong relationships with insurance companies that specialize in financial risks.
Source:
- https://business.tempo.co/read/1460682/cari-tahu-tipe-asuransi-rumah-yang-tepat-untuk-anda-besert-ragam-jaminan
- https://www.kompas.com/properti/read/2022/11/13/080000421/mau-beli-asuransi-rumah-begini-how-to calculate-preminya
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