Hi All, is anyone here with house owner policy ( include Fire + others ) with terrace house?
If you have, can you check your insurance policy that you received yearly from insurance company, under " the schedule" page,
what is the construction & PIAM code you are having?

Your help is much appreciated.

Terrace should be classification code 4001. As for Construction Code, should be 1A because houses now a days build with concrete and brick walls.

However flats, apartments, condo, townhouse classification code is 4005.

As for the basic premium rate is fix at 0.106% (4001) and 0.109% (4005), both for construction code 1A.

The above premium rate is only applicable for insuring building with standard covers only.

If it is different, then maybe your insurer or agent have shortchanged you.