Fire Insurance facts in the Philippines

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Fire Insurance facts in the Philippines

For most of the Filipinos,  the house is the most expensive investment they will ever make.  In saying so,  it is but natural and practical to protect this investment against loss or damage may it be the natural or man-made cause.  Unfortunately, protecting these assets is not a priority amongst Filipinos.  They are more likely to purchase car insurance first before thinking of getting fire insurance.


Interestingly,  it is not that expensive to insure your home against fire and other perils.  Depending on where your house is located, the average Fire insurance premium is only P1,000 per every 1 million peso coverage.  So if your house is worth P5 million,  the annual premium should only be around P5,000.  For a small amount of premium,  you can buy peace of mind knowing that your most valuable asset is covered.


You can also protect not just your house but also its contents.  Typical home and content insurance covers you not only fire and lightning but also against theft/burglary and Acts of nature too such as flooding, earthquake, typhoon, etc..   Since the Philippines is very prone to natural calamities like earthquake and typhoons,  the Acts of Nature coverage which can be added in the standard fire and lightning coverage is highly recommended.


Accidents can happen anytime at the least expected moments and the hard-earned investment can be gone in a flash.  Fortunately,  there are a number of reliable insurances in the Philippines.  Companies like Malayan Insurance,  Charter Ping An, Federal Phoenix, PNB General, MAA,  Standard Insurance, Mapfre Insular are among others who are the trusted ones.  They have been in the industry for more than 50 years and have been proven and tested by thousands of clients who have experienced good claims history.


It can be daunting for first-time buyers researching the best insurers.  is a useful site that can help you save time and money by comparing their features which ultimately gives you an advantage in choosing the most suitable cover.









Author: erwin reyes

Erwin has a combined experience of more than 15 years in the car insurance industry in the Philippines and Australia. Loves cars and enjoys to sourcing out great deals for its clients