Insurance Claim Science – Learn it

Insurance claims runs on their own separate sets of standards and rules. When your Malaysian Property gets into trouble, here’s what you need to know about insurance claims and its letters; and its science.


Home Insurance sciences are difficult to learn – Especially when it comes to understanding in-depth about its policies and so forth. BankingInfo provides a thorough insight on how it works; but not to the level of understanding each and every plan available out there in Malaysia. The only thing you need to learn is how it can benefit you, its simple calculation(s) and also certain metrics you need to take into consideration.

Alternatively, you can also check out Home Insurance Basics where Malaysia Home Loan explains home insurance basics and how home insurance works.

Claiming Home Insurance: Things to remember

  1. Notify your insurance company immediately

    First of all, give your insurance company a call immediately. Tell them about the situation; then write a letter (or sometimes fill a form) stating that there has been a loss or damage done to your property that has insurance coverage. If you take too long to report after the incident has happened, an investigation can be made to your case and this will only pro-long the process of insurance claim.

  2. Submit claim with all supporting documents and information to your insurance provider

    This will include submitting repair claims (bills), but not limited to any other documentation you have when you first obtained the insurance.

  3. Make necessary temporary repairs and keep those bills

    If you need to make an urgent repair (doors, windows, leaking roof holes) do so immediately, and consult your insurance company before calling the repairman. Keep those bills with you and file them. You will need it. (See number 2)

  4. Submit costing bills before making major replacement/repairs

    If you need to rebuild/repair/compensate on the loss/damage item, obtain all costing and send it to your insurance company to approve. If approved, repair works can commence immediately. This process might take a few days – But make sure it isn’t too long. Follow up with your insurance company if you need to.

  5. An investigator might come by to check

    An investigator appointed by your insurance company may swing by your place to check: Play nice and cooperate well with that person.

Your compensation will depend very much on the home insurance policy you purchase. The price you pay for your home insurance will depend on the type of policy selected, the type of building and construction materials used. The insurance premium charged by your insurance company is the standard minimum rate in accordance with the Fire Tariff.

The mortgage and financial consulting services are offered to you FREE of charge without any obligations. Kindly contact us or email to consultant@malaysialoan.com.my if you need any enquiry. Thank You.

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