Hi guys, i've got a question on "Home Building Insurance". This is over and above MRTT insurance. My property is a condo which is still under construction till 2014.

I've got LO from bank, and when i was reading the Annexure, it says "the Bank requires this dwelling/non-dwelling/building in the course of contruction, property to be protected by a Home Building Takaful".

Isn't all under construction development insurance been undertaken by Developer? Will the insurance policies from Developer sufficient to cover this requriement?

Would like to getsenior sifus advise on whether is this requiremen normal in dealing with your home loan agreement?