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 | about apartment fire insurances (modified 0 times) | cfyong | |
| my apartment management force us to buy fire insurances from them....but we hv already bought fire insurances from those insurances agent last time...do they deserve the right to force us to buy from them? and i have just receive a letter said that if we still dun wan to buy fire insurances from them they will add the fees into our maintenance fees and interest will be charged...they deserve the right too???
hope any1 can help here....tks... | |
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| RE:about apartment fire insurances (modified 0 times) | simpoon | |
| Under the approved JMB act, it is a requirement under the law to protect the financier and owner of individual under the master policy to make sure everybody interest are insured. Fire insurance covers fire, lightning and domestic gas explosion and with additional premium, natural disaster such as flood, storm & tempest, aircraft and falling object, riot strike & malicious damage, earthquake and it's proximate causes, etc.
If the management allow every individual on it's own insurance, then they have extra problem to keep track individually the validity of insurance every now and then, which mean extra cost and workload employed.
Moreover, the premium on a group basis are subject to discount for large sum assured and when dealing with claim, the management have more say rather then individual as when negotiation with insurance company.
For individual who are interested to take up their own insurance, householder(content) policy are more appropriate type of insurance as it covers home content such as freezer, furniture, computers, household personal effect, jewelry up to 1/3 the total sum insured.
Link to
http://www.simonpoonagency.net/spa-accident-casualty-fire-health-motor-marine-property-liability-insurance-malaysia-kuala-lumpur-oug/Home/home-owner-content-insurance | |
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| RE:about apartment fire insurances (modified 0 times) | ayan | |
| They have no right to force you to get an insurance unless there was a contract that stated exactly that. What you can do is show them your fire insurance policy. | |
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