1. Is the insurance compulsory?
Yes, there is a small premium for a minimum coverage of RM1000. Higher coverage is also available at affordable monthly premiums.
2. What does the insurance cover?
Fire, lightning, and/or extraneous perils (which include water damage, theft from forcible entry; and perils listed in the storage insurance application form*).
3. Is the compulsory insurance for each customer or each unit rented?
It is applicable for each of the storage unit that you are renting. For example, if you are renting t wo units, you will be required to purchase two compulsory insurance. In other words, two storage insurance application forms will be required.
4. Is it compulsory for me to sign on the storage insurance application form?
Yes, you must sign on the insurance form. The insurance coverage will not take effect without a signed storage insurance application form.
5. Will there be another separate policy document sent out to me?
No, the storage insurance application form serves as confirmation of insurance taken up.
6. What is the excess for this insurance policy?
RM500. This means that the first RM500 of each and every claim will not be claimable.
7. Am I allowed to increase the insurance coverage amount?
Yes, you are allowed to do so and will be required to sign on the endorsement form.
8. Who do I call if there’s a claim?
Great Eastern Malaysia. Great Eastern's hotline number are indicated on the storage insurance application form which will be furnished to you during your move in.
* Complete details on the terms, conditions and exclusion are listed in the storage insurance application form.