HouseOwner Takaful

DEC 2006

Manual and Product Information

1.

RISK COVERED ACCORDING TO CATEGORY OF BUILDINGS

Private Dwelling i.e. house, flat, condominium and apartments.

2.

STANDARD COVERAGE
The House owners (Building) Takaful Policy undertakes to indemnity Participants in the event
of loss or damage due to the following :
(a)

Fire, lightning, thunderbolt or subterranean fire;

(b)

Explosion;

(c)

Aircraft and other aerial devices and/or articles dropped there from;

(d)

Impact by any road vehicle not belonging to or under the control of the Participant or
any member of his family;

(e)

Bursting or overflowing of domestic water tanks, apparatus or pipes, excluding:

(i)

the first RM50.00 loss

(ii)

destruction or damage occurring whilst the private dwelling was left

unfurnished

(f)

Theft but only if accompanied by actual forcible and violent breaking into or out of a
building, or any attempted theft;

(g)

Hurricane, cyclone, typhoon or windstorm except for the first 1 (one) per cent of the
sum covered or RM200, whichever is lesser;

(h)

Earthquake or volcanic eruption except for the first 1 (one) per cent of the sum
covered or RM200, whichever is lesser;

(i)

Flood but excluding loss or damage caused by subsidence or landslip;

(j)

Loss of rent (not exceeding 10 (ten) per cent of the total sum covered on building) in
the even of the same was so damaged by any of the abovementioned perils, so as to
rendered it uninhabitable : and

(k)

The Participants liability to the public as owner of premise in respect of bodily injury
or damage of up to RM 50,000 in any one occurrence and any additional cost payable

Commerce Takaful Berhad

HouseOwner Takaful
Manual and Product Information

DEC 2006

to Claimants incurred and with the consent of COMMERCE TAKAFUL BERHAD in

contesting the claim.

Commerce Takaful Berhad

HouseOwner Takaful
DEC 2006

Manual and Product Information

3.

POLICY EXTENSION
This Policy may be extended to include Riot, Strike and Malicious Damage, subject to an
additional Takaful contribution.

4.

GENERAL EXCEPTIONS
The Policy does not cover :
(a)

loss or damage caused by war, invasion or hostile act of foreign enemy, war operation
(whether war be declared or not ) and civil war;

(b)

mutiny, riot, popular rising, rebellion, revolution, military insurrection or usurpation

of power, enforcement of martial law or events that cause the proclamation of martial
law or state of siege;

(c)

loss or damage occasioned by commandeering, requisition or destruction of or damage

to the property by order of the Government or Local Authority;

(d)

loss or damage caused by radioactive materials from weapons;

(e)

flood or overflow situations except as specifically covered by this policy;

(f)

loss or damage occasioned by subsidence or landslip except by earthquake or volcanic

eruption.

Commerce Takaful Berhad

HouseOwner Takaful
DEC 2006

Manual and Product Information

5.

SCHEDULE OF TAKAFUL CONTRIBUTION RATES

ANNUAL TAKAFUL CONTRIBUTION RATE
Occupation
Classification
(I) House owner
a)

Dwellings
detached)

(Detached

Construction
Classification

Rate %

and

b) Dwellings Flats and Apartments

non

1A

1B

0.106

REFER

REFER

REFER

0.109

REFER

REFER

REFER

(II) Fire (Private dwellings)

a) Detached & non-detached

0.052

b) Flats & Apartments

0.057

REFER
REFER

Note: The above Annual Takaful contribution rates are as per the PIAM Revised Fire Tariff. Please
obtain quotation from us before finalizing payment.

6.

CLAIMS PROCEDURES
Upon occurrence of any loss or damage, the Participant must:
(a)

submit immediate notice in writing and in the case of theft, actual or attempted, a
copy of police report must be attached and

(b)

submit a duly completed claim form within 15 days together with other relevant
documents

(c)

no admission of liability or commitment to settlement to be made without written

consent from COMMERCE TAKAFUL BERHAD

Commerce Takaful Berhad