Understand what each type of protection is designed to do, when it may matter, and the questions worth asking before choosing a policy.
General guidance only. Exact coverage, limits, conditions and exclusions depend on the policy wording.
Insurance is simply a way to reduce the financial shock of something unexpected. You pay a premium, and the insurer agrees to respond to specific events described in the policy.
No policy covers everything. The useful questions are: what is protected, against which events, up to what limit, and what remains your responsibility?
Buildings, vehicles, stock and belongings can be expensive to repair or replace after an unexpected event.
Helps a business repair or replace insured buildings, equipment, furniture or stock after a covered event.
Which property is listed, the insured values, covered events, deductibles, business interruption options and exclusions.
Helps with covered damage, theft and liabilities connected to an insured personal or business vehicle.
Who may drive, permitted use, third-party versus comprehensive cover, deductibles, limits and exclusions.
Helps protect insured goods while they are being transported from one location to another.
Approved transport methods, geographical limits, loading and unloading, packaging requirements and excluded goods.
Helps repair or replace an insured home and selected belongings after covered damage or loss.
Building versus contents cover, replacement values, alternative accommodation, flood and other exclusions.
Health changes, workplace incidents and long-term commitments can affect both income and family plans.
Provides agreed financial support when death, illness, injury or medical treatment triggers the policy.
Waiting periods, pre-existing conditions, benefit limits, exclusions, panel providers and claim procedures.
Builds funds toward a future goal and may include protection if contributions cannot continue as planned.
Guaranteed and non-guaranteed benefits, fees, access to funds, contribution period, risks and protection features.
Helps cover eligible work-related injury or illness costs and required employee benefits.
Eligible employees, covered injuries, reporting deadlines, medical benefits, wage replacement and local legal requirements.
Helps with selected unexpected costs before or during a trip, including covered cancellation, emergencies or baggage loss.
Destination, trip duration, medical limits, cancellation reasons, activities, existing conditions and baggage sub-limits.
Major projects and management decisions can expose an organisation and its people to complex claims.
Helps protect construction work, materials and third-party liabilities during an insured project.
Project value, insured parties, site limits, existing structures, testing, defects, delays and third-party liability.
Helps protect directors and officers against certain claims alleging wrongful acts in managing an organisation.
Who is insured, defence costs, reporting requirements, prior acts, regulatory investigations and exclusions.
Tell us what you are responsible for. ERC can help identify the risks worth discussing.
L7-1, No 2, Jalan Solaris,
Solaris Mont Kiara
50480 Kuala Lumpur, Malaysia
Office: +603 6200 0669
Mobile: +6012 3535 801
E-mail: suzana@erc.net.my
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