Malaysia has tonnes of insurance policies that you might not be aware of. But before that, let’s ask ourselves. Why do we get insured for? People opt for health insurance to pay for hospital bills, life insurance to ensure their loved ones are financially secure after their demise and car insurance to protect their wallets in case accidents happen. Those are the common types of insurance that most Malaysian choose.
Technically, insurance is a wealth preservation tool that gives you a peace of mind against unprecedented accidents. However, there are other insurance in Malaysia that you wouldn’t think is necessary but they exist, especially for the wealthy and affluent or High-Net Worth individuals. Although some might find it weird, even Christiano Ronaldo had his legs insured for a staggering $144 million by his football club. And that’s only his legs.
Let’s go through 6 types of other insurance offered by legitimate insurers in Malaysia that some of you probably didn’t know existed.
Having your house, full of belongings, being broken into surely gives you scelerophobia; the fear of being robbed. Worry no more as this insurance will give you protection against theft and robbery to your property and its contents within the premises. The losses and damages will be covered by your insurer in an event something happens.
The elements of glass in interior design gives out a modern, aesthetic look and creates a sense of horizontal continuity. But imagine a showroom full of glass somehow fractured or shattered into pieces. Bear in mind that glass walls will cost you a lot. Thus, glass insurance is useful at times like this to insure the fragile part of your premises due to accident and misfortune.
Do you ever feel paranoid over people watching you while you withdraw some money from the ATM? Because I do, especially when it involves a huge wad of cash. Indeed we’re going cashless nowadays but there are some situations that require us to deal with cash. Getting insured with ATM Shield protects you from snatch theft within 24 hours of withdrawing cash from the ATM. This policy does not only compensate for your cash loss but also your medical expenses, injuries or even death due to the accident. Interesting isn’t it?
If you’re an active Twitter user, you must have often encountered crowdfunding tweets asking for some donations for their pets. Why is this happening? Because the pet owner did not realize the cost of veterinary bills that they need to pay to treat a pet. If we have life and medical insurance to cover the bills, why shouldn’t our pets?
Internationally, pet insurance is a common thing but in Malaysia, it is sadly overlooked. It actually covers more than just paying the veterinary bills for your four-legged family member. What if your fur kid troubled the entire neighbourhood? This policy is here to cover all the legal costs and expenses of the damage done by your pet.
If you’ve seen Malay dramas, you would notice that the Dato’-Dato’ character would always spend time playing golf. That’s why golf is perceived as a rich man’s sport as the equipment is quite expensive. Not to mention the additional accessories and club memberships. But what if someday your expensive golf equipment got damaged or stolen? And what would happen if you suddenly hit someone or any property with the ball?
Accidents could happen without us expecting it to be and this insurance policy will cover personal accidents, medical bills for the caddy, the losses and damages to your golf equipment, buggy and even reward you when you hit a Hole-In-One at any recognized golf club. Well now, all serious golfers can enjoy the moment and play with ease.
The thought of having chocolate chip ice cream during a scorching hot day. What a perfect thing to do. But what if the cold storage that you often go for ice cream suddenly broke down? Then there you are standing still looking at your favorite ice cream eventually melting down. Imagine how disappointed you might be.
How about the cold storage owner? How much loss would he or she experience? Everything happens for a reason and this is the reason why cold storage insurance existed in the first place. Those who keep a huge amount of stocks in a cold storage room for a long period of time should opt for this policy. It helps to cover all the losses on the deterioration in the cold storage rooms due to cooling machinery breakdown. It keeps your cold storage business cool too.
Are you interested in getting insured with one of those mentioned above? Well, not everything can be insured for but that’s the least we could do for our future. Even the Wuhan virus case now has its own insurance.
Living in today’s society, everything requires money, and that includes your state of mind. That’s the price you pay to be able to sleep soundly at night knowing that you and your family are financially protected. But whatever it is, you know that there is a guarantee that you will be compensated for any unfortunate incidents that may happen.
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