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Property/Fire Insurance Calculator

 
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yowchuan



Joined: 06 Jun 2006
Posts: 15
Location: Malaysia

PostPosted: Mon Jul 10, 2006 8:59 pm    Post subject: Property/Fire Insurance Calculator Reply with quote

Wondering how much premium you need to protect your property?

Get a free quote here: ..meshio.com/tools/fire_insurance.html

*it's free, so technical support not included Very Happy
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tengster



Joined: 19 Jan 2006
Posts: 1033

PostPosted: Mon Jul 10, 2006 10:55 pm    Post subject: Reply with quote

great URL for simple calculation......
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overtime



Joined: 03 Apr 2006
Posts: 57

PostPosted: Tue Aug 15, 2006 5:36 pm    Post subject: Reply with quote

Is there a 'standard' formula to calculate the value of the house itself without the land? I wonder how can i find this out (if ask from developer, will they tell??). In terms of calculating insurance, i think its only necessary to insure the value of the building itself right, not so much on the land?
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tengster



Joined: 19 Jan 2006
Posts: 1033

PostPosted: Tue Aug 15, 2006 7:58 pm    Post subject: Reply with quote

overtime wrote:
Is there a 'standard' formula to calculate the value of the house itself without the land? I wonder how can i find this out (if ask from developer, will they tell??). In terms of calculating insurance, i think its only necessary to insure the value of the building itself right, not so much on the land?


THe sum insured should be the cost of reconstructing the house....

Land cost and foundation are not supposed to be in the sum insured.
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overtime



Joined: 03 Apr 2006
Posts: 57

PostPosted: Wed Aug 16, 2006 12:06 pm    Post subject: Reply with quote

Thats what i thought too. The question is how do i find out about the cost to reconstruct the house? Is there a formula to calculate (e.g. based on original purchase price)? I asked my sales agent which i got the house from and he doesnt know. Any advice?
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overtime



Joined: 03 Apr 2006
Posts: 57

PostPosted: Wed Aug 16, 2006 12:14 pm    Post subject: Reply with quote

overtime wrote:
Thats what i thought too. The question is how do i find out about the cost to reconstruct the house? Is there a formula to calculate (e.g. based on original purchase price)? I asked my sales agent which i got the house from and he doesnt know. Any advice?


Another question is also, if my bank has already gotten a fire insurance (bank loan), would it be pointless for me to take up another fire insurance of my own? If anything happens, do i get to claim from two parties, or only one?
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tengster



Joined: 19 Jan 2006
Posts: 1033

PostPosted: Wed Aug 16, 2006 5:43 pm    Post subject: Reply with quote

overtime wrote:
overtime wrote:
Thats what i thought too. The question is how do i find out about the cost to reconstruct the house? Is there a formula to calculate (e.g. based on original purchase price)? I asked my sales agent which i got the house from and he doesnt know. Any advice?


Another question is also, if my bank has already gotten a fire insurance (bank loan), would it be pointless for me to take up another fire insurance of my own? If anything happens, do i get to claim from two parties, or only one?


A valuer or quatity surveyor or an experienced could tell you your reconstruction cost based on nos of floor, sq foot area, finishing, etc....

If a bank bought on behalf a fire insurance, then you dont have to buy similar fire insurance (for building only). You will NEVER get to claim twice...........you may have to buy fire insurance for content........house appliance, furniture, rental, etc....
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overtime



Joined: 03 Apr 2006
Posts: 57

PostPosted: Thu Aug 17, 2006 10:58 am    Post subject: Reply with quote

Thanks tengster!
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yowchuan



Joined: 06 Jun 2006
Posts: 15
Location: Malaysia

PostPosted: Mon Sep 04, 2006 3:27 am    Post subject: Reply with quote

On an unrelated note, I have here another tool for you property owners: HomeLoan Calculator

Tips: Try checking the box that gives you amortization for "Bi-Weekly Payments".

You will be VERY SURPRISED to find out some interesting stuff (if you haven't read David Bach's Automatic Millionaire)
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Scott123



Joined: 25 May 2008
Posts: 45

PostPosted: Thu May 29, 2008 9:35 pm    Post subject: Reply with quote

This was a good suggestion that you put up here...dude…..hope that it benefits all the ones who land up here.
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kismet



Joined: 17 Jun 2008
Posts: 24

PostPosted: Wed Jun 25, 2008 3:41 pm    Post subject: Reply with quote

Here's one Financial Tool that i want to share with you that might give and you the information you want.
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garry09



Joined: 13 Sep 2008
Posts: 2

PostPosted: Sat Sep 13, 2008 1:37 am    Post subject: Reply with quote

Thanks for providing this, I hope I will never gonna need it but I always like to be ready for everything good or bad. I finally managed to an equitable insurance find a for my house and now I plan to do everything by the book.
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