I just bought a 1050sqft strata condo and loan already disburse and all. Suddenly got a message from the bank saying I have due premium for fire insurance about 1k++.

When I was applying loan, I didn't sign any fire insurance application as I thought condo fire insurance is managed by the JMB. Banker didn't mentioned he will apply fire insurance for me as well.

Now I ask the banker he say later he will call me, I wanna know whether fire insurance need purchase myself instead of JMB if its a strata non landed property?

I recently purchase a condo as well.

My banker told me that, normally JMB will purchase the fire insurance.

I will need to get a copy from the JMB and furnish the same to the banker.

Condo JMB have own fire insurance, ask them make a copy for you.

Every year pay & get a copy from condo JMB.
Email to your bank.


At first, my bank direct deduct from my account.
After email a copy to bank, they refunded me the amount.

After that, every year email fire insurance copy to bank.
(Bank will send letter remind you every year as well)

This post has been edited by Aftermaths: Mar 8 2021, 06:19 PM

The fire insurance is management pay using our monthly maintenance fees or need to pay another amount by ourselves each year ya?

All strata would have a common fire insurance policy.

Therefore you don't have to pay an extra premium. You'll have to obtain a copy of the fire insurance policy from the building management to provide to the bank who'd then waive that requirement.

For my previous condo it's an annual affair.

Get the cert from management, make sure got your unit and name on it.