# Home insurance for condo?



## JoshBlue82 (Mar 25, 2018)

First post, long time lurker.

My wife and I both Expats purchased a condo unti in Makati and are currently renting it out. We only just got the keys for the unit 3 months ago and want to get home owners insurance to protect against,fire,flood,earthquake etc. We have no idea how this type or process works in Philippines, how much it costs and what type of coverage we can expect. Can anybody with any insight lend a helping hand?

Thanks in advance, Josh


----------



## bigpearl (Jan 24, 2016)

JoshBlue82 said:


> First post, long time lurker.
> 
> My wife and I both Expats purchased a condo unti in Makati and are currently renting it out. We only just got the keys for the unit 3 months ago and want to get home owners insurance to protect against,fire,flood,earthquake etc. We have no idea how this type or process works in Philippines, how much it costs and what type of coverage we can expect. Can anybody with any insight lend a helping hand?
> 
> Thanks in advance, Josh


Welcome to the forum Josh, enjoy. You raise a good point with insurance, we also have tenants in our house and I never thought of insurance,,,,, even though we are insured to the hilt in Oz with all things, that one slipped my mind for here in PH. 
I too would be interested to hear what other members do and how they went about it.

Cheers, Steve.


----------



## Hey_Joe (Sep 13, 2016)

JoshBlue82 said:


> First post, long time lurker.
> 
> My wife and I both Expats purchased a condo unti in Makati and are currently renting it out. We only just got the keys for the unit 3 months ago and want to get home owners insurance to protect against,fire,flood,earthquake etc. We have no idea how this type or process works in Philippines, how much it costs and what type of coverage we can expect. Can anybody with any insight lend a helping hand?
> 
> Thanks in advance, Josh


May be difficult to get an answer. I provided inf on a Life Insurance question & moderator deleted it. Must have thought I was advertising the company.


----------



## bidrod (Mar 31, 2015)

Just Google it. The companies available will show so you can compare.

Chuck


----------



## Asian Spirit (Mar 1, 2010)

Hey_Joe said:


> May be difficult to get an answer. I provided inf on a Life Insurance question & moderator deleted it. Must have thought I was advertising the company.


If the information has been requested by a member such as in this thread, it is perfectly okay to give the name of companies you have used. What would not be permitted in this thread would be for an insurance company to jump in and list their services. That would be an advertisement.

Sorry Hey_Joe, I don't remember your post..


Asian Spirit


----------



## hogrider (May 25, 2010)

No idea of insuring a condo, but I just arranged insurance for our house. It includes protection against, earthquakes, flooding, acts of God etc. Insured value is P6m on the house and P1m on the contents. The premium is P6,700 pa.


----------



## Hey_Joe (Sep 13, 2016)

Asian Spirit said:


> If the information has been requested by a member such as in this thread, it is perfectly okay to give the name of companies you have used. What would not be permitted in this thread would be for an insurance company to jump in and list their services. That would be an advertisement.
> 
> Sorry Hey_Joe, I don't remember your post..
> 
> ...



Here is the post from July 2017. I finally found an Insurance company through the Philippine Retirement Authority, answered my own post about 2 months ago by explaining that I found a company and you deleted the post saying it was advertisement.

www.expatforum.com/expats/philippines-expat-forum/1306866-life-insurance.html


----------



## Hey_Joe (Sep 13, 2016)

hogrider said:


> No idea of insuring a condo, but I just arranged insurance for our house. It includes protection against, earthquakes, flooding, acts of God etc. Insured value is P6m on the house and P1m on the contents. The premium is P6,700 pa.


HogRider, Please PM me with the name of the company.


----------



## Asian Spirit (Mar 1, 2010)

Hey_Joe said:


> Here is the post from July 2017. I finally found an Insurance company through the Philippine Retirement Authority, answered my own post about 2 months ago by explaining that I found a company and you deleted the post saying it was advertisement.
> 
> www.expatforum.com/expats/philippines-expat-forum/1306866-life-insurance.html


I sent a PM over to you...


----------



## fmartin_gila (May 15, 2011)

Never gave it a thought, We are naked(the standard term used in the US to indicate no insurance) except for vehicle liability and that is only a minimum policy as required.

Fred


----------



## mogo51 (Jun 11, 2011)

I have my car insured with Alpha Insurance Company, it seems a very reasonable price to me, recommended by Bank Manager (yes I know $$$) but have not had a claim.
They are the same company that seems to have a lead on car personal injury insurance here and just used them for this type of insurance included in registration 660 pesos for 12 months.
I saw on their sign I am pretty sure, they do household/contents insurance also,but like the others, I have not got it for the house.
Wife and I were only talking about it a couple of days ago and will inquire tomorrow when in Town.


----------



## JShannon (Jan 28, 2014)

I got a quote a few years ago when we finished our house. The price seemed reasonable until they said earthquake wasn't included. So I am also "naked". Don't know if can get contents coverage only, will have to check into that.


----------



## hogrider (May 25, 2010)

Hey_Joe said:


> HogRider, Please PM me with the name of the company.


Hi Hey_Joe
PM sent.
Cheers


----------



## JoshBlue82 (Mar 25, 2018)

Can you please pm me the company info too, and thanks for all the replies guys.


----------



## bigpearl (Jan 24, 2016)

bidrod said:


> Just Google it. The companies available will show so you can compare.
> 
> Chuck


LOL, that's my line Chuck, "google is my best friend". I did google on your advice and yes there are a plethora of companies offering insurances but I'm too lazy to pursue for prices as well as reading the fine print from each quoting company. So like the OP I was interested in what others do, their experiences.
Dave (hogrider) could you also PM me the company details as I know you are pretty astute with most things.

Cheers, Steve.


----------



## Zep (Jun 8, 2017)

No home insurance for me. I doubt it would be valid if I tried to use it anyway. The company would probably go out of business the hour before my claim. lol

Forced to buy the required auto insurance, otherwise I would not bother with that as well. Its only good for up to 100k pesos and it would not cover me anyway as the car is in a relatives name.


----------



## hogrider (May 25, 2010)

JoshBlue82 said:


> Can you please pm me the company info too, and thanks for all the replies guys.


Hi Josh
I tried to send you a pm but I don't think its possible as you are a new member.


----------



## hogrider (May 25, 2010)

Zep said:


> No home insurance for me. I doubt it would be valid if I tried to use it anyway. The company would probably go out of business the hour before my claim. lol
> 
> Forced to buy the required auto insurance, otherwise I would not bother with that as well. Its only good for up to 100k pesos and it would not cover me anyway as the car is in a relatives name.


None of my business, but I do think you should sort that out, not so much for your own cover, but should you be involved in an accident causing death or injury to a third party.


----------



## Asian Spirit (Mar 1, 2010)

hogrider said:


> Hi Josh
> I tried to send you a pm but I don't think its possible as you are a new member.


Correct, He will have to make at least five (5) good posts before he is able to use the PM system on the site. For now, only a moderator is able to send a PM to himhone:


----------



## HondaGuy (Aug 6, 2012)

hogrider said:


> No idea of insuring a condo, but I just arranged insurance for our house. It includes protection against, earthquakes, flooding, acts of God etc. Insured value is P6m on the house and P1m on the contents. The premium is P6,700 pa.


Do you mind PM'ing me what company you got your insurance through and who you went through to get the policy? Thanks!


----------



## fmartin_gila (May 15, 2011)

hogrider said:


> None of my business, but I do think you should sort that out, not so much for your own cover, but should you be involved in an accident causing death or injury to a third party.


The required minimum insurance does cover third party liability. It will not reimburse yourself foryour loss, only other persons/things.

Does seem to be about the standard price as mine was P610.

Fred


----------



## magsasaja (Jan 31, 2014)

fmartin_gila said:


> The required minimum insurance does cover third party liability. It will not reimburse yourself foryour loss, only other persons/things.
> 
> 
> Fred


In theory it is does, however in practice it is worthless.


----------



## hogrider (May 25, 2010)

HondaGuy said:


> Do you mind PM'ing me what company you got your insurance through and who you went through to get the policy? Thanks!


PM sent, I went straight to their office in Davao City. Took about 20 min in all to arrange. I chose this company based on a recommendation of my builder. He uses the company himself.


----------



## JoshBlue82 (Mar 25, 2018)

Does anyone have any idea pprox what coverage would cost on a 2 bedroom condo in makati, i paid about 9m for. Looking for the best coverage possible.Thanks


----------



## bigpearl (Jan 24, 2016)

hogrider said:


> PM sent, I went straight to their office in Davao City. Took about 20 min in all to arrange. I chose this company based on a recommendation of my builder. He uses the company himself.


Hey Dave, Does this company have branches through out PH? Do they also do comprehensive insurance for motor vehicles?
Could you PM me the company details and I will check them out. 
Our bank, BDO does house insurance but knowing how slow they can be I hesitate to see them at this stage.

Cheers, Steve.


----------



## Gary D (Oct 28, 2013)

Be very wary of agents, always go to a branch or main office, agents have been known to pocket your premium and if you claim the company will just shrug their shoulders. You could try and sue the agent but they won't have any money so you loose.


----------



## hogrider (May 25, 2010)

bigpearl said:


> Hey Dave, Does this company have branches through out PH? Do they also do comprehensive insurance for motor vehicles?
> Could you PM me the company details and I will check them out.
> Our bank, BDO does house insurance but knowing how slow they can be I hesitate to see them at this stage.
> 
> Cheers, Steve.


Hi Steve, pm sent
Cheers


----------



## Asian Spirit (Mar 1, 2010)

*Moderator Note*

Guys,,,,,, If someone is asking for information for a business or type of business it *IS* ok to list the company name including links in open forum..


----------



## hogrider (May 25, 2010)

OK then, with mods blessing, the insurance company I went with is UCPB Gen
https://www.ucpbgen.com
No affiliation with them at all, and I haven't had cause to make any claim or test them out in any way. I chose them based on the personal recommendation of my house builder.


----------

