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Hi all, i have bought an apartment which just handed over on last year. My bank sent me a reminder letter request for Master/ Own Fire Insurance certificate. The letter request me to get a copy of the certificate from developer and forward to them. Since this is high rise apartment, which party bear the cost of Fire insurance? developer ? maintenance company ? Owner ? Who shall do the coordination for Master fire procurement?
Thank you

Cheong,
do your apartment have a management team? you may check with them.
otherwise go direct with the developer.

The insurance that the bank want is fire insurance of the entire building.
Therefore the developer will bear. There after when the strata title is out,
management will collect from your guys.

But bear in fire that this fire insurance is to cover the damge of the
building upon fire and lighting only.

Therefore if you wish to cover your house and your content, you need to buy another
house fire insurance.

Need further clarification let me know

Martin Lau
D'Venture FlexiHome

The most complete and accurate guide to coverage’s, rating plans it protects you and your dependents against any financial constraints arising on account of a medical emergency in order to provide the most comprehensive support.

That is not necessary cheap insurance would be effective the essential term is the insurance service should be reliable and It protects you and your dependents against any financial constraints arising on account of a medical emergency in order to provide the most comprehensive support.

I have already pay for fire insurance via management,but bank charging me also fire insurance fees.What should i do,just show them my fire insurance certificate to get wave?Or do i need to pay both??

Suggestion: just obtain the insurance certificate from your management and show it to the bank to waive. If your unit is landed property you may get your own fire insurance and show the policy to them.

Sometime if your get those plan direct from the bank, when it comes to inccident happen who you should contact? the bank? They will ask you to contact the insurance hotline, when you contact the insurance hotline, they unable to trace your details.

its alsways better to obtain direct from an agent or from the insurance company. No offends over here, its from my personal experience.

Regards,
Martin