DWELLING HOUSE INSURANCE INDONESIA

Home Insurance is a packaged policy, meaning it covers damage to your property and things you keep in it, as well as your liability to third party caused by your property damage.

Commonly, home insurance protects you against fire or most disaster, including floods and earthquake, volcanic eruption & tsunami; though there are some exceptions. The standard home insurance policy includes four types of coverage;

1. House Structure
   This part pays you to repair or rebuild your house if it is damaged or destroyed by fire, lightning or other disaster listed in your policy. Damage by earthquake is usually bought separately.
2. Personal Belongings
   Things you keep in it such as furniture, clothes, electronic devices and other personal items are covered if they are stolen or destroyed by fire and other insured disaster. Expensive items such as jewelleries or furs are usually not fully covered.
3. Liability Protection
   This covers you against any bodily injury or property damage that followed by your property damage.
4. Additional Living Expenses
   If there is damage caused by insured disaster, and you need additional costs of living away from your home, your insurance company will pay you.

Before buying a home insurance, it is wise to consider what disaster which may happen (such as tsunami, earthquake) and ask your insurance company if they can cover this. It is also important to buy enough insurance policies – not under-estimation or over-estimation so you can rebuild your house without financial problem. Remember, Insurance Company will not reimburse any over-estimate insurance!

SAMPLE POLICY

HOME PLUS PROTECTION :

1. Fire, Lightning, Explosion, Aircraft Impact & Smoke Damage
2. Riot, Strike, Malicious Damage & Civil Commotion
3. Windstorm, Flood, Tempest & Water Damage
4. Landslide & Subsidence
5. Burglary with forcible entry
6. Earthquake, Volcanic Eruption & Tsunami
7. Third Party Liability Cover up to Max Rp. 250,000,000
8. Personal Liability Cover up to Max Rp. 250,000,000
9. Personal Accident cover up to Max Rp. 100,000,000
10. Domestic Worker Compensation Rp. 5,000,000 in anyone period
11. Temporary removal
12. Others

Deductibles:

• Fire, Lightning, Explosion, Aircraft Impact & Smoke Damage: NIL
• Riot, Strike, Malicious Damage (4.1A): 10% of recoverable claim amount subject to minimum of IDR 10,000,000
• Civil Commotion: 15% of recoverable claim amount subject to minimum of IDR 25,000,000
• Flood, Windstorm, Tempest & Water Damage: 15% of recoverable claim amount subject to minimum of IDR 5,000,000
• Earthquake, Volcanic Eruption, Tsunami : 2.5% of Total sum insured
• Landslide & Subsidence : 10% of recoverable claim amount subject to minimum IDR 25,000,000
• Burglary & Other Losses : IDR 1,000,000

Premium Calculation:
US$200,000 x 0.325% = US$650
Policy Cost & Stamp Duty = US$5
Total: US$655 / annum