PropNex covers clients with free Home Insurance

31 Oct 2008

With the onset of the global financial crisis, now, more than ever, is the time when we must all be proactive in protecting our assets. And our biggest material asset is, for most of us, our property.

That is why PropNex, in its continuous efforts to add value to its clients, is proud to introduce its free Home Insurance coverage, available to all PropNex buyers and sellers from 1 November 2008 onwards.

This latest initiative from the leading real estate company aims to protect home assets from unforeseen circumstances and is an industry-first in that it provides free coverage for both renovations and home contents. The total coverage of up to $65,000 comprises $50,000 for renovations, fixtures and fittings and $15,000 for home contents.

The coverage is for a three-month period upon activation after consultation with a representative from SingCapital. The insured customer can choose to cover his/her existing or tnew property after the sale has been completed. They will then receive a Certificate of Insurance from Tenet Insurance Company Ltd detailing the details of coverage.

PropNex clients covered by this Home Insurance plan may claim for loss or damage arising from fire, lightning and other insured perils such as:

• Aircraft damage
• Bursting or overflowing of water tanks, apparatus or pipes
• Earthquake, volcanic eruption, hurricane, cyclone, typhoon and windstorm and floods
• Explosion
• Impact by road vehicles
• Riot and strike
• Malicious damage

While many of us may think that these disasters are highly unlikely to strike us, statistics show that for the first quarter of 2008 alone, over 1,000 cases of rubbish chute fires and more than 200 fires caused by unattended cooking have been reported. And these are just some of the more common reasons behind household fires.

Basic coverage schemes for both HDB flats and private properties, under the HDB Fire Insurance and MCST Insurance respectively, only cover the original improvements and fixtures forming part of the unit; they do not cover the cost of additional renovations done and the owners’ contents. PropNex believes that it is necessary for homeowners to be adequately covered, so that we can ensure security for ourselves and our loved ones. With PropNex, valued clients can always trust on reliable service and innovation.

Taken from www.propnex.com.sg