Specially designed package policy for Condominiums, Apartments and Flats.
What is Combined All Risks insurance?
It is a specially designed package policy for Condominiums, Apartments and Flats that is customized to meet the needs of Joint Management Body (JMB).
This comprehensive plan offers multiple benefits:
Protection from 10 potential elements that can disrupt or damage your business
Peace of mind at affordable rates
Flexibility to select the sum insured to match your needs
Here is an overview of your coverage
1. Fire and Special Perils Covers loss or damage to your property caused by fire or lightning. For an additional premium, you can extend coverage to these risks.
Earthquake and volcanic eruption
Explosion (Non-industrial without boilers)
Impact damage (Including your own vehicle)
Bursting or overflowing of pipes
Subsidence and landslip
Riot, strike and malicious damage
Covers loss or damage of money (including money in the custody of the Insured's director, partner or employee or any third party authorized by the Insured) during transit or kept in your premises.
3. Burglary Covers property or any thereof while within the Insured's premises, against
Loss or damage by theft resulting from forcible and violent entry
Indemnifies you if glass at insured premises is broken by fracture through its entire thickness -- as a result of any accident or misfortune not otherwise excluded.
5. Fidelity Guarantee Covers you as an employer against any direct financial loss sustained by act(s) of infidelity or dishonesty by your employee(s) e.g. forgery, embezzlement, larceny or fraudulent conversion.
6. Machinery Breakdown Covers your machinery (lift, air-conditioners, generators, transformers, fire fighting equipment and the like) against any unforeseen and sudden physical loss or damage whether at work or at rest, or being dismantled for the purpose of cleaning, inspection or overhauling, or in the course of the operations, or when being shifted within the premises during subsequent re-erection.
7. All Risks Covers loss or damage to your property caused by
Any other accident or misfortune stated in the Policy Schedule
8. Public Liability Indemnifies you against all sums you can be liable to pay compensation for
Bodily injury to or illness of Third party
Loss or damage to property within the premises
resulting from an accident as described in the Policy Schedule
9. Group Personal Accident Compensates you for your Insured employee for bodily injury caused by accidental means which
Injury shall solely and independently of any other cause, result in death or permanent disablement
On top of that, funeral expenses will be paid in the event of accidental death of Insured employee.
10. Error & Ommission Covers for claims brought against you, your former members of Management Corporation/Joint Management Body or your managing agent appointed by commissioner for the wrongful act committed or allegedly committed.
How much is my premium?
Your premium may vary depending on the plan you select.
The calculator is a guide only to assist you in determining the estimated sums to be insured for residential properties, simple shop house and shop office and is not a substitute for professional advice to be obtained.
Before using the calculator, kindly note the following:
if any renovations have been made to your property, you are advised to indicate the amount (cost of renovation) in the box provided in the BCC.
if your property has unique or special design features and/or have extensive renovations and/or have complex structures affixed, you are advised to obtain professional advice for a more accurate assessment of your property.
Claims arising from 'Latex Protein Toxic Syndrome' and Asbestos
Note: This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy.
This plan is underwritten by Tokio Marine Insurans (Malaysia) Berhad. All benefits and features mentioned herein are subject to terms and conditions of the policy. It is In your best interest to refer to the Policy Contract for the precise terms and conditions of this insurance plan.
The information shown here is for reference only and is accurate as at 1 July 2015.
Note: You should satisfy yourself that this policy will best serve your needs. You should read and understand the insurance policy, and at all times, feel free to contact us for more information.