Property Insurance in Indonesia
Because we know that the building we own, whether it's a house, office, warehouse, etc., is a very valuable investment. For this reason, it is very important to keep it free from the risk of possible damage and destruction. Faced with the many risks that a building may face at any time, to what extent and what effort do you put in to stay on top of it all?
Of course buildings require maximum protection and it can be activated anytime a risk strikes your building/property. Property (home/property) insurance is one of the smartest things you can do to keep your belongings safe in the event of damage or destruction.
Property insurance provides financial protection for the insured buildings listed in the policy in the event of damage or destruction from the risks listed in the property insurance policy.
2 types of property insurance in Indonesia
Generally speaking, property insurance in Indonesia is divided into two areas, namely home insurance and commercial insurance.
home insurance
Home insurance is a standard type of contents insurance that provides protection for an individual (individually) owned home.
According to the Indonesian Fire Insurance Standard Policy (PSAKI), the risks covered by home insurance are:
* fire
* lightning
* explode
*plane crash
* cigarette
business insurance
For businesses in particular, insurance plays much the same role as home insurance, but with the type of property protected, some buildings belonging to the business such as:
* factory
* Shopping
* Shopping center
* office
There is also commercial real estate such as:
* factory
* storehouse
* Shopping center
Expand property insurance
*storm
* resist
* Protect valuables
* Protect third party from injury
*Financial protection in the event of damage to the property of the insured *Temporary shelter in case the house/building is damaged and no longer habitable
How much does property insurance cost?
To calculate property insurance premiums, you must first know what TSI (Total Sum Insured) is. In particular, in TSI property insurance, the total value of the property, including the price of the building and the contents of the building, is the value given by the insurer (guarantor) to the property of the insured. Here's an example of how insurance premiums are calculated:
For example, you own a house worth Rs 7 crore. Then the property insurance premium calculation is:
Property Value (TSI): IDR 700,000,000 (Building Price and Building Contents Price)
Ratio: 0.0294%
So, the premiums you can pay for home insurance are:
IDR 700,000,000 x 0.0294% = IDR 205,800
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