You will receive the full amount you are covered for if you suffer loss or damage because of a fire, explosion, theft, malicious damage, burst pipes, floods, impact damage or other unexpected events. You will also receive up to 10% of your coverage amount if you suffer loss of rental after the incident. What's more, we will reimburse you for the cost to clear away debris and for any accidental breakage of fixed glass.
PROTECTING YOUR TREASURED BELONGINGS
We will cover you for loss or damage to your home contents as a result of fire or theft. This comes with automatic protection on items you would have purchased over the past month.
To ease your financial burden, you will receive RM500 in cash to cover any out-of-pocket expenses you incurred to cope during the challenging time when your home is unfit to live in.
WORLWIDE COVER FOR PERSONAL ITEMS
You can opt to insure your valuable belongings such as jewellery, gold, watches, camera and handbags, against loss or damage even while you're travelling.
FINANCIAL PROTECTION FOR YOU AND YOUR FAMILY
For additional protection, you can choose to cover you and your immediate family against any bodily injury or property damage experienced by others owing to your negligence.
Like what you've read? This is just a summary of our product. If you want more information, you can view our brochure or contact an AIA Life Planner.
Duty of Disclosure - You must give all the facts in your application form and during renewal, fully and faithfully. You must ensure that your property is insured at the appropriate amount and you should also disclose fully all material facts e.g. any previous claims, occupations etc.
Insured Value/Sum Insured - Ensure your property is adequately insured at all times, and take into account the renovations and enhancements made to your property.
Average Condition - If the amount insured in your insurance policy is less than the rebuilding cost (i.e. under-insurance), you are deemed to be self-insuring the difference. The average condition will apply in the event of a claim.
Responsibility for Purchase of Insurance - If you are buying a property from a developer and the property is under the construction stage, the insurance of the property is the responsibility of the developer. You only need to insure the property upon receipt of vacant possession from the developer.
Settlement of Claims - The compensation amount depends on the basis of the cover. - Indemnity basis will pay the cost of repairing the damaged building less the amount for wear, tear and depreciation; or - Reinstatement value basis will pay the full cost of repairing the damaged building without any deductions being made for wear, tear or depreciation, provided that the sum covered is adequate to cover the total cost of reinstating the building. In the absence of any special provision, the cover will be on indemnity basis. If you want to be covered on reinstatement basis, your policy should have the relevant clause attached to it. "Excesses are applicable for certain perils, such as overflowing of domestic water tanks, windstorm, earthquake and flood claims. "Excesses means the amount that you will have to pay before the company indemnifies you.
What's required for your application to be approved
This plan is available to individuals aged between 18 years old and 70 years old.
Things that you won't be able to claim from this policy
war, invasion, mutiny, military or popular rising, insurrection, rebellion, revolution, mulitary ir usurped power, martial law or state of seige;
act of terrorism;
confiscation, commandeering, requisition or destruction by the Government or any public municipal or local authority;
nuclear weapons material, ionizing radiations or contamination by radioactivity;
its own fermentation, natural heating or spontaneous combustion;
consequential loss of any kind;
hurricane, cyclone, typhon or windstorm to any buildings in course of construction, reconstruction or repair;
subsidence or landslide.
Liability arising out of:
the Insured's profession or business;
ownership, possession or usage of any lift, vehicle, vessel or craft;
the carrrying out of alterations, additions, repairs or decorations to the premises;
wear and tear, depreciation, gradual deterioration, vermin or from any process of cleaning or restoring any articles;
war, act of terrorism, civil commision and radioactivity;
confiscation or detention by customs of other official authorities;
mechanical & electrical derangement, scratching, breakage of lenses or glass.
Personal Liability Benefit:
liability assumed under contract and/or agreement;
claims against you by your family members, claims made by your employees for accidents arising in the course of employment;
liability in respect of damage to property held under your care, control or custody;
liability arising from the use of vehicles (other than hand-propelled vehicles or pedals cycles not being used for racing) boats (sailing or mechanically-propelled) aircraft or model aircraft owned by or in the custody or control of the Insured or his servant
Note: This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions.