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 HOUSE INSURANCE, House insurance Bank insurance

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TSrammsteind00
post Mar 10 2024, 09:44 PM, updated 2y ago

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hello everyone, i got a question wanna ask.

I just bouught a home (2 years ago), its a state goverment low medium cost apartment / flat. (RM72k)
I havent move in yet.

Recently bank deducted rm550 from my account. When i called bank they said its takaful/ insurance,
In the same time..i just renew fire insurance with the management. (RM30++)

My question is, is it the same insurance?
The bank and the management fire insurance? confused.gif

it not....is it reasonable to pay rm550 for yearly insurance? sad.gif
or can i buy from other company

Thanks in advance.
Pac Lease
post Mar 11 2024, 12:46 AM

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Take your management insurance policy to the bank and request them for waiver of the 550 will do.
taitianhin
post Mar 11 2024, 06:32 PM

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Please rmb to ask mgmt to give you the Insurance cert on yearly basis
And send to bank on yearly basis for the insurance waiver...
Yes, is a yearly activity thing
zyde
post Apr 15 2024, 10:49 AM

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QUOTE(Pac Lease @ Mar 11 2024, 12:46 AM)
Take your management insurance policy to the bank and request them for waiver of the 550 will do.
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If landed can we opted to buy third party insurance?
Pac Lease
post Apr 16 2024, 10:57 AM

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QUOTE(zyde @ Apr 15 2024, 10:49 AM)
If landed can we opted to buy third party insurance?
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Yes.
WaCKy-Angel
post Apr 16 2024, 11:03 AM

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QUOTE(rammsteind00 @ Mar 10 2024, 09:44 PM)
hello everyone, i got a question wanna ask.

I just bouught a home (2 years ago), its a state goverment low medium cost apartment / flat. (RM72k)
I havent move in yet.

Recently bank deducted rm550 from my account. When i called bank they said its takaful/ insurance,
In the same time..i just renew fire insurance with the management. (RM30++)

My question is, is it the same insurance?
The bank and the management fire insurance?   :confused:

it not....is it reasonable to pay rm550 for yearly insurance?  sad.gif
or can i buy from other company

Thanks in advance.
*
Ask bank to cancel it and ask management give u copy of the insurance submit to bank.

However actually the insurance bought by management does not cover ur furnitures or even ur unit per se....
That is mostly for common areas including condo structure.

Idk imo probability of fire in condo is not that high. U are better off buy MRTA or MLTA


QUOTE(zyde @ Apr 15 2024, 10:49 AM)
If landed can we opted to buy third party insurance?
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What is third party insurance?

This post has been edited by WaCKy-Angel: Apr 16 2024, 11:06 AM
zyde
post Apr 16 2024, 11:30 AM

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QUOTE(WaCKy-Angel @ Apr 16 2024, 11:03 AM)
What is third party insurance?
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Insurance company that does not suggest by bank. Ie; Maybank is Etiqa, HLB is Life Insurance etc
WaCKy-Angel
post Apr 16 2024, 11:45 AM

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QUOTE(zyde @ Apr 16 2024, 11:30 AM)
Insurance company that does not suggest by bank. Ie; Maybank is Etiqa, HLB is Life Insurance etc
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Oic yes u may. If let bank auto debit probably easier and convenient.
Also u dont need to submit the policy copy to bank om yearly basis too.

And if u late submit and bank already auto debit u need to email/call to cancel too.
Messy
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