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BALI PROPERTY INSURANCE

PROTECTING YOUR INVESTMENT

PROPERTY ALL RISK 

Experience comprehensive and tailored coverage with Property All Risk (PAR) insurance. PAR insurance safeguards property owners against unforeseen events, including fire, theft, water damage, and natural disasters, ensuring that your physical assets are protected from potential financial loss. Whether you're an individual homeowner or a business owner with commercial buildings, factories, or warehouses, PAR insurance can be customized to meet your specific needs. With PAR insurance, you can enjoy peace of mind, knowing that unexpected losses or damages will be covered. 

PROPERTY ALL RISK COVERAGE

FIRE DAMAGE

Fire, Lightning (Strike), Explosion, Aircraft Impact, Smoke

Fire can be a scary and unpredictable thing that can happen anywhere, including your beautiful Bali villa. But if by any chance it happens to your villa, you can sit back because our policy has got you covered.

Lightning strikes can cause significant electrical damage, but with our coverage, you can have peace of mind knowing that repairs and replacements are taken care of. 

While explosions and aircraft impacts are rare occurrences, there is still a possibility of them happening and the consequences can be devastating. However, our policy provides the necessary assurance that your property will be restored, and all associated costs will be covered.

Additionally, we understand the impact of smoke damage, which is why we offer coverage for smoke-related losses to your property, ventilation systems, and contents.

WATER DAMAGE

Tempest, Storm, Flood, Water Damage

When tempests strike or powerful storms roll in, causing damage to your property, our policy is there to support you. We understand the impact these events can have on your property in Bali and the financial burden they may bring. Rest assured, our coverage includes the necessary repairs and restoration to bring your Bali property back to its original condition.

Floods are a common occurrence in Bali, and their destructive nature can cause extensive damage to the building structure and your furniture. Our policy goes beyond traditional coverage by offering protection specifically designed for Bali's flood-prone areas. We are committed to assisting you in recovering and rebuilding after the unfortunate event of a flood, ensuring that the costs associated with repairing the structural damage and replacing your furniture are covered.

Water damage, whether from burst pipes, plumbing issues, or heavy rainfall, can be a significant concern for Bali property owners. Our policy provides specialized coverage for water damage, addressing the unique needs of Bali villas. From repairing structural damage to restoring affected areas, we are here to assist you in mitigating the effects of water damage on your Bali property.

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RSMDCC

Riots, Strike, Malicious Damage, and Civil Commotion

Riots and civil commotion can disrupt the peaceful atmosphere of Bali and result in property damage. In such unfortunate events, our policy steps in to cover the costs associated with repairs and restoration. We understand the impact these situations can have on your property and are committed to supporting you in recovering from the damages caused by riots and civil commotion, ensuring that your Bali property is protected.

Strikes are not uncommon in Bali and can disrupt business operations and potentially lead to property damage or loss. Our specialized coverage includes protection against damages resulting from strikes, allowing you to focus on mitigating the impact and restoring your Bali property to its original condition.

Malicious damage, whether intentional acts or vandalism, can be a concern for property owners in Bali. Our policy offers specific coverage for such incidents, providing the necessary support for repairs or replacements if your property falls victim to malicious damage. We understand the importance of protecting your Bali property from unforeseen events and ensuring your peace of mind.

OTHERS

Any kind of risk that is not listed previously, include theft and other accidental damages.

In addition to the specific risks mentioned earlier, our policy also covers a wide range of other potential risks that may pose a threat to your property in Bali. We understand that unexpected events can happen, and our goal is to provide comprehensive coverage to ensure your peace of mind in any situation.

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ADDITIONAL COVERAGE

OTHER PRODUCT

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CONSTRUCTION
ALL RISK

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VEHICLE
INSURANCE

  • Do I need to have an IMB to be able to cover my property?
    No, you do not need an IMB (Izin Mendirikan Bangunan or Building Permit) to have insurance in Indonesia. IMB is a permit issued by the local government that allows you to build or renovate a property. It is not directly related to insurance. However, having a valid IMB may be a requirement for some insurance policies, particularly for property insurance. Insurance companies may require that your property has a valid IMB before they provide coverage. This is because an IMB is an important document that ensures the safety and compliance of the building with local regulations, and it can affect the level of risk associated with insuring a property.
  • What factors influence the cost of property insurance?
    Here are several factors that can influence the cost of property insurance, including: Location: The location of the property can affect the cost of insurance. Properties in areas that are prone to natural disasters, such as earthquakes or floods, may have higher insurance premiums than those in low-risk areas. Type of property: The type of property being insured can also impact the cost of insurance. For example, a property that is built with fire-resistant materials may have lower insurance premiums than one that is made of wood. Age and condition of the property: The age and condition of the property can also affect the cost of insurance. Older properties may have higher insurance premiums due to a higher risk of damage or maintenance issues. Coverage limits and deductibles: The amount of coverage you choose and the deductible you select can also impact the cost of insurance. A higher coverage limit or lower deductible will typically result in a higher premium.
  • Do you offer any discounts for multiple properties or long-term policies?
    We regret to inform you that we are unable to offer any further discount on our proposal. However, please be assured that we have already provided you with our most competitive and affordable rate, along with the best coverage available.
  • What is the process for renewing my property insurance policy?
    Our policies are valid for a year and can be renewed upon receipt and confirmation of our renewal slip. Please ensure that the sum insured accurately reflects the current condition of your property. In case of any additions, it is crucial to declare them promptly and add their value to the policy. Failure to do so may result in claim rejection in the future.
  • Can I make changes to my property insurance policy after it has been issued?
    Absolutely, yes. Please note that changing the policy may require additional premium and administrative costs.
  • Can I transfer my property insurance policy to a new homeowner if I sell my property?
    Sure, please provide us with the details of the new homeowner and we will proceed with the necessary changes.
  • Do I need to insure my personal belongings inside my property separately, or are they covered under my property insurance policy?
    Unfortunately, No. Property insurance typically covers the physical structure of the building and any permanent fixtures, such as built-in cabinets, flooring, and appliances. Personal belongings, such as furniture, electronics, and clothing, may also be covered, but the coverage limits and terms can vary widely among insurance policies.
  • Can I increase or decrease the coverage limit of my property insurance policy at any time?
    Certainly, we encourage you to notify us promptly of any changes to your property that may affect its value, such as additions or removal of items. It is important to note that any changes to your coverage limit may also result in a corresponding change in your insurance premium.
  • How do you calculate the Business Interruption Amount?
    Calculating the Business Interruption Amount (BIA) requires an assessment of the financial impact of a disruption to a business's operations. The BIA is typically calculated as follows: Determine the period of interruption: This is the period of time during which the business is unable to operate normally, such as due to a fire, natural disaster, or other events. Calculate the gross profit: This is the revenue that would have been earned during the period of interruption, minus any costs that would have been incurred to generate that revenue. Gross profit is typically calculated as follows: Gross Profit = Net Sales - Cost of Goods Sold Determine the additional expenses: These are any additional expenses that the business may incur as a result of the interruption, such as rental of temporary facilities or equipment. Calculate the BIA: The BIA is the sum of the gross profit and additional expenses incurred during the period of interruption. BIA = Gross Profit + Additional Expenses It is important to note that the calculation of the BIA can be complex and may require input from a variety of sources, including financial statements, inventory records, and other business records. It is recommended to seek the assistance of a professional to ensure that the BIA is accurately calculated and reflects the true financial impact of a disruption to the business.
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