For completed property, the fire insurance covered by the JMB is only for common area and exclude your home. Of it is stated in your loan offer document you need to take up fire insurance , the bank will buy for you and charge to your loan account. The amount covered is normally 70% of your S&P value. For eg if your house is value at RM1million the insurance coverage is RM700k. It is over covered as we do not need to pay RM700k to reconstruct the house. For me I write in to the bank to request to buy my own insurance , at least save of 10 percent discount.

That is news to me coz this is what the developer told me the fire insurance don't cover individual parcel . Will check again with them.