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6 Reasons Why We Need to Buy Home & Property Insurance

 Malayan Insurance - Home Insurance & Property Insurance

Living in the province in my childhood can’t be replaced by any other place. This is where I was born and raised, and where my roots is. However, with slow flood-prevention development, living in my province has a disadvantage sometimes. I have this vivid memory of me standing in our dining table above dirty flood water. The rain was so hard that you can’t hear anything but it hitting hard on our rooftop, and the thunder making scary noises. This was because of a storm, and it happened several times. It has been hard for us too after every storm because he family needed to deal with the aftermath. There were a number of parts of the house that needed to be repaired, and even the land outside. All using my parents’ own expense.

Having a property is an investment, but it is always a smart decision to have insurance if disaster strikes. Buying home insurance & property insurance isn’t required by law, but mortgage lenders generally requires it. And even homeowners, like my parents, can purchase insurance  because it is a wise decision that can safety our finances.

Why we need home and property insurance

  1. Protects lender’s investment. When a homeowner owes money on his home, he needs to have insurance to protect both himself and the lender. This will make good relationship between the mortgage lender and the homeowner.
  2. Repair or replace personal belongings. What if your personal possessions and declared valuable items are destroyed in a fire? Many insurance policies cover these belongings that are not limited inside your home.
  3. Provides hospitalization assistance. Your insurance will financially assist the insured and/or any member of his family for hospital confinement or surgical expenses incurred due to accident.
  4. Protection against natural disasters. Our country is prone to typhoons. Flood and landslides are oftentimes reported. Property insurance provides property coverage for potential losses to both the structure of the house and its contents.
  5. Protection against robbery and theft. When someone foolishly break in and steal your home. A homeowner’s policy will reimburse for the actual for the actual cash value or replacement costs.
  6. Peace of mind. Who doesn’t want to less hassle when something unexpectedly bad happen with our house or property? You’ll be thankful if this happen, but hopefully not. To me, this is my main benefit why home insurance & property insurance is a must.



Malayan Insurance Co., Inc. is the leading non-life insurance company in the Philippines which also known with great and improved policies on home insurance & property insurance. This included property insurance, an extension of covers, personal accident*, family hospitalization insurance*, household employee insurance*, value items protection*, and basic property coverage insurance (*subject to underwriting evaluation and approval or additional premium).

In case you are interested to buy your first home insurance & property insurance or decided to transfer, you may visit Malayan Insurance’s official website, Facebook or Instagram. You may also fill-out property information for quotation.



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