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Discussion in 'Businesses - Services - Products' started by charlyB, Aug 5, 2025 at 4:53 PM.

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  1. charlyB

    charlyB DI Forum Patron Highly Rated Poster

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    We recently decided to get a quote for house insurance and this is the one from Prudential Guarantee.
    TOTAL SUM INSURED : Php 10,000,000.00 - ON THE BUILDING ONLY
    COVERAGE : Fire and Allied Perils(ACTS OF NATURE)
    ANNUAL PREMIUM: Php 25,400.00
    We have not had this type of insurance for quite a long time as we were in rental places so from memory this seems quite expensive.
    Does anyone on the forum that has this type of insurance think this price is the norm for 10M of cover and also can anyone recommend an insurance company for this ?
     
    charlyB, Aug 5, 2025 at 4:53 PM
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  2. Dutchie

    Dutchie DI Senior Member Showcase Reviewer Veteran Army

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    Seems expensive to me also Charly.
    Admittedly the rebuilding cost of our house (minus the lot and foundations) would be way lower than yours, we would probably be able to get it done for at most 5 m.
    Our cover includes fire, storm, flood, earthquake and costs us around 7,600 Php.
    Insurance amount is 4m, arranged through PNB Bank, with "Allied Bankers Insurance Company".
    It should get relatively cheaper to insure a higher amount so premium for 10m should be below 2.5x7.6k=below 19k
     
    Dutchie, Aug 5, 2025 at 10:34 PM
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