Your home is probably one of the most expensive things you buy in your lifetime. Hence, it makes sense to insure your home to protect your assets.

However, there are various insurance available to cover your home, such as fire insurance, homeowner insurance, householders insurance or contents insurance.

Malaysia, being a country outside the Pacific Ring of Fire, is exempted from natural disasters such as earthquakes and volcano eruptions that often cause loss of life and destruction of properties.

However, Malaysians are still susceptible to losses caused by fire.

As an investor, taking risks can be a dangerous game if one does not play their cards right.

Potential risks can affect the stability of investments and profits of your property in the future.

Dhinas Risk Management Takaful advisor Fadhilah Aziz said she has encountered many cases where a property is destroyed within seconds. Without an insurance policy, there is not much one could do to save one’s assets.

According to her, the risk management policies come in many forms to help protect the property.

“The most basic policy usually covers damages caused by fire, lightning and explosion but can be extended to include perils, such as storm and tempest, flood, riot, and even damages caused by smoke from the fire, as well as damages caused by water or other extinguishing agents used to put out the fire,” she said.

According to Fadhilah, all risks insurance policy covers an asset against the risk of fire, theft and other accident or misfortune.

“Currently, there are only 50% of individuals who are covered under the insurance policy.

“Flash flood, landslide and other unnatural disaster such as damages from a tree falling on the roof and so on are not covered by the bank, which is why an insurance policy is the best way to protect yourself against these risks.

“It is always better to be safe than sorry. It is always the right time to get an insurance policy for your assets because you never know what just might happen next,” said Fadhilah.

Fadhilah was speaking at the Konvensyen Hartanah held at SOGO KL with a talk titled “Urus Risiko Hartanah Di Peringkat Awal”.

The next fair organised by StarProperty.my is the i-City edition fair held at i-Gallery, i-City, from June 10 to 12 (today to Monday), 11am to 7pm.

Those who registered at wah.starproperty.my or purchase a house at any StarProperty.my fairs will stand a chance to win a home worth over RM500,000 at Section 13, Petaling Jaya.

Visit fair.starproperty.my for more information.