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?

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

Thanks in advance.