Owning a home is both a dream and an achievement in terms of asset ownership. After surveying locations and negotiating prices, your dream home can be purchased either in cash or through a mortgage (KPR). If you choose “KPR”, the bank will require you to apply for insurance to protect both the collateral and loan payments, namely:
- Life insurance to protect heirs if the “KPR” holder passes away;
- Fire insurance to protect the home from fire risk;
However, Fire Insurance only protects the value of your home, while furniture, electronics, and other belongings inside are not covered against financial loss from fire.
Although the likelihood is low, the financial loss can be enormous if we are not prepared from the start. To protect your precious dream home as a valuable asset for you and your family, get extra protection to minimize potential losses. Here are some points to consider when upgrading your fire insurance:
- Recheck the benefits of your existing policy
Make sure you understand the protection benefits included in your Fire Insurance when applying for a mortgage, before upgrading your insurance.
- Discuss with your insurance provider
You can also discuss with your insurance provider additional coverage that suits the condition of your home and its surroundings.
- Consider the coverage amount
Ensure that the coverage amount matches the value of your home and the items inside it, so that in case of unexpected risks, the replacement cost provided reflects the actual loss caused by fire.
To help protect you from these risks, BCA has partnered with BCAinsurance to provide Fire Insurance that enhances the protection of your home, including:
- Protection for buildings and household items, such as furniture and electronics
- Affordable premiums, starting from IDR200,000/year
- Easy and fast process
Don’t wait until it’s too late! Get Fire Insurance easily through the Protection feature on the myBCA app or visit the nearest BCA branch. Learn more here.
