Your tenant permanently departs from the Premises during the Period of Insurance without providing written or verbal notice of departure, as required under the current lease, or rental agreement or without any intention of returning.
No. This policy will only trigger when the rental loss is due to tenant runaway. Early termination or overstaying is also not covered under the policy.
We will also reimburse the reasonable legal fees incurred issuance of a letter of demand of up to insured amount by a lawyer in relation to non-payment of rent for overstaying or due to default rental or run away.
The definition of malicious act is generally any damage caused to property with malicious intent. With malicious damage, a person has unlawfully and intentionally damaged property—accidents do not count as malicious damage, nor does damage that was not carried out maliciously.
Examples of malicious damage to property:
|Part I) Loss of Rental income due to Tenant runaway|
|Part II) Legal Fees for Letter of Demand|
|Part I) Loss or Damage to due malicious act|
|Part II) Cleaning Services|
|Part III) Repair or Replacement of doors, locks, access card and keys|
|Part IV) Breakage of Plate Glass|
|Part V) Plumbing, drainage, air-conditioning and toilet malfunction|
|Part I) Theft or burglary by tenant|
|Loss of rental||7-10 working days - upon receiving full documentation and no further clarification needed.|
|Loss or damage due to malicious damages||30 working days - upon receiving full documentation and no further clarification needed.|
|Theft or burglary by tenant||30 working days - upon receiving full documentation and no further clarification needed.|
Claim submission to be submitted to: NonMotorClaims@tuneprotect.com
All documents to be submitted in softcopy to the above email address.
This policy provides you with insurance coverage for your property. It provides for reimbursement against rental default and other benefits including but not limited to theft or burglary by tenant.
|SECTION||BENEFITS||SUM INSURED (RM)|
|PLAN 1||PLAN 2||PLAN 3||PLAN 4||PLAN 5|
|SECTION A – RENTAL DEFAULT|
|I||Loss of rental income due to tenant runaway (up to 2 month of monthly rental)||1,000||2,000||3,000||4,000||5,000|
|II||Legal Fees for Letter of Demand||500||750||750||750||1,000|
|SECTION B – ADDITIONAL BENEFITS TO BE COVERED|
|I||Loss or Damage to due malicious act||5,000||7,500||7,500||7,500||10,000|
|III||Repair or Replacement of doors, locks, access card and keys||500||750||750||750||1,000|
|IV||Breakage of Plate Glass||500||750||750||750||1,000|
|V||Plumbing, drainage, air-conditioning and toilet malfunction||500||750||750||750||1,000|
|SECTION C – ADDITIONAL COVERAGE|
|I||Theft or burglary by tenant||500||750||750||750||1,000|
*Please refer to the schedule of benefits and its full features in the policy contract.
*Duration of cover is one (1) year.
The total premium amount you will have to pay depends on the sum insured that you purchase.
The Annual Premium shown below is subject to 6% of Service Tax and RM 10 of Stamp Duty.
Premium payment can be made via Credit Card/Debit Card and Online Banking.
|Plan Types||ANNUAL PREMIUM (RM)|