Home & Garden Best Posts in Thread: Home owners insurance

I have no comment to make here on Home insurance, but a timely warning to give regarding safety in the home, very few people here have smoke alarms and that includes many of the Foreigners I have asked? I had one sent over from UK In a B/box it was so cheap less than P1000, recommended by the Which Magazine and it performed better than the Honeywell at twice the price, Fire Angel is the brand and comes with a 10 year lifetime sealed battery pack, which is going to outlast most of us old Coffin Dodgers, I know of two houses where one Foreigner died when his furniture went on fire and another where the house was gutted and the occupants narrowly escaped death, both did not have smoke alarms.

I bought an 18 month old car 3 years ago in Cebu it is a Honda and the Honda Dealer Garage wanted around? P35K for insurance, but while we were waiting for the fixed actual quote we were in our Bank the BPI and I asked if they did motor insurance, they did and they come back to me with a price for fully Comp of P15K and an upgraded Policy that covers all natural disasters? Floods, Typhoons and even a coconut falling from a tree this was P20K, after two years this has come down to just under P17K as the car gets older.

 

No luck here either. When we looked for insurance
1 company would not offer even a quote because we are on a shoreline
2nd company would only cover storm damage if it was a named storm ... habagat and regular LPA wind and rain is not covered.
In the end we figured it is better just to put money aside and save it for emergency.
Also asked other friends/family and they too agreed that home insurance here is pointless.
Side note...keep in mind this is a country where vehicle insurance is only required 1 or 2 days a year, for registration, and is sold by specific dealers for LTO to approve. Any comprehensive insurance is up to you.

In short, property insurance here is only for peace of mind...till you need it...then it is a nightmare.