homeowners insurance

Homeowners Insurance

Guide to choosing and getting a homeowners insurance policy in the Philippines. Information here are just basic guidelines. Please refer to your policy for exact coverages and liabilities.

Basic Homeowners Coverage

Basic policies usually covers damage your home and its contents caused by fire and lightning. This may include damages caused by a firefighters effort to stop the fire.

Regular Homeowners Coverage

In addition to the basic coverage, the regular homeowners policy may also cover loss or damage due to typhoon, windstorm, and hail. Some policies include architect, legal, and surveyor fees up to a certain percentage (e.g. 5%) of the sum insured.

The regular policy may also include a personal liability coverage for you and members of the household.
Complete Homeowners Coverage

In addition to the regular coverage, the complete coverage may include:

Flood
Smoke, Explosion, Vehicle Impact, and Falling Aircraft
Riot, Strike, Civil Commotion, or Malicious Damage Coverage
Robbery
Accidental Breakage of Sanitary Fixtures and Fittings
Temporary Accommodations Expenses 

Please consult your policy for exact details regarding coverage and liabilities.
Perils Covered

The homeowners policy can be divided into 3 basic sections to cover perils.
Section 1 - Property Damage

Fire, Subterranean Fire, Lightning, Thunderbolt
Typhoon, Windstorm, Hail
Flood
Explosion
Falling Aircraft
Smoke
Vehicle Impact
Accidental Sudden Discharge or Overflow of Water or Steam
Riot Strike, Civil Commotion, Malicious Damage
Robbery 

Supplemental Coverages Under Section 1

Debris Removal
Fire Fighting Expense
Residence Employees
Professional Fees
Loss Assessment
Sanitary Fixtures and Fittings
Alternative Accommodation 

Section II - Liability To The Public
Section III - Family Personal Accident

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