PROPERTY INSURANCE
Insurable Products
- Buildings
- Furnishings
- Machinery
- Tools
- Goods
Eligibility
- Owner
- Joint-owners
- Spouse of owner
- Any person who owns the property
Insured Period
- The term of the policy will be 10 days to 1 year and can be renewed on a yearly basic.
Premium
The premium amount depends on:
Building class
Occupation of building
Adjacent of the building
Total sum insured
Premium Rate
Minimum 0.13%
Maximum 3.50%
Classification of Building
- 0.20% on the sum Insured for the first class building
- 0.28% on the sum Insured for the second class building
- 0.84% on the sum Insured for the third class building
- 1.40 % on the sum Insured for the fourth class building
Basic Coverage
- Fire
- Lightning
- Explosion caused by gas used for domestic purpose
- Losses or damages of extinguishing
Additional Covers
| Riot,strike and malicious damage | 0.06% |
| Earthquake and volcano explosion | 0.10% |
| Various types of storm | 0.20% ~ 0.25% |
| Flood and inundation | 0.10% |
| Subsidence and landslide | 0.10% |
| Burglary | 0.25% ~ 1% |
| War Risk | 0.10% |
Claim Producer
One should inform to the company if any loss occur.
One should request the claim together with some required documents.
No Claim Bonus
25% bonus on premium starting from second year for not having a claim in the previous year .
Need to inform
if the insured item move to different place
if the owner of the insured item change .
if the value of the insured item change.