Advantage Micro Fire Insurance / Residential Fire Insurance
A residential fire insurance product for cooperative members, providing affordable annual protection against covered physical damage or loss to the insured property.
Coverage
| Coverage | Amount |
|---|---|
| Residential Fire Insurance – Building and Household Contents (First Loss) | PHP 50,000.00 |
| Comprehensive Personal Liability – Personal Liability | PHP 20,000.00 |
| Comprehensive Personal Liability – Medical Payment | PHP 2,000.00 |
| Comprehensive Personal Liability – Damage to Property | PHP 2,000.00 |
| Accidental Death & Dismemberment Insurance | PHP 25,000.00 |
| Bereavement Assistance (due to any type of death) | PHP 2,500.00 |
| Premium per unit of coverage, inclusive of taxes (1 unit per insured location) | PHP 250.00 |
Eligibility and Benefit Conditions
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- Eligible age: 18 to 65 years old; exit age is the 66th birthday.
- Accidental Death, Disablement & Dismemberment: pays for death caused by an accident and/or up to 100% of the person's accident insurance coverage in case of an accident.
- Bereavement Assistance: pays for the death of a person due to natural or accidental causes.
- Limitations shown in the source: coverage applies anywhere in the Philippines except specified areas/locations and excludes money and jewelry.
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Residential Fire Insurance - Policy Description
The insured premises must be occupied as a dwelling. Manufacturing or trading of goods for commercial purposes must not be conducted within the insured premises.
Comprehensive Personal Liability (Home Premises)
The company pays, on behalf of the insured, amounts the insured is legally obligated to pay for damages arising from bodily injury or property damage covered by the policy. The company may defend or investigate claims, subject to the policy terms and applicable liability limits.