KUALA LUMPUR, 20 May 2021 – Bearing unexpected and large expenses to repair or replace losses to property due to fire, flood, or theft can leave anyone financially strained, especially in current times. In responding to the needs of the market, Tune Protect Malaysia (“the Company”) has launched Home Easy and Home Shield, a HouseOwner and HouseHolder insurance which provide coverage for residential buildings and home contents against loss or damage due to fire, lightning, explosions, flood, or burst pipe, among others.
Home Easy offers the cheapest online home insurance policy in the market, more than 40% savings in premium at present1. To demonstrate that it is the most affordable in the market, Tune Protect Malaysia has launched the Lowest Price Guarantee Campaign and will make good the difference if a customer finds a cheaper quote in the market from now until 31 August 20212.
Home Easy is available for fast purchase online whilst Tune Protect’s agents will assist in the purchase of Home Shield.
Both home insurance products offer attractive savings in premium compared to the tariff rate, while providing greater flexibility to homeowners to tailor their plan with optional add-ons to meet their individual needs.
In addition to being highly affordable and flexible, homebuyers or homeowners will also enjoy complimentary benefits which include reimbursement of water bill due to burst water pipe, and a Personal Liability Insurance coverage of up to RM250, 000 if they opt for both the HouseOwner and HouseHolder coverage for their homes.
With these innovative solutions in place, Tune Protect Malaysia plans to capture potential homebuyers and existing homeowners.
In the 2020 Asia-Pacific Outlook3 by Ernst & Young, 94% of millennials in Malaysia indicated their intent to buy a home in the next five years. This figure reflects a promising opportunity for Tune Protect Malaysia to extend its reach to potential homebuyers with its affordable and flexible Home Easy and Home Shield.
William Foo (“William”), Chief Executive Officer of Tune Protect Malaysia highlighted, “Buying a new home is exciting. However, with the steady increase in house prices coupled with the effects of the pandemic on personal budgets, customers have become more price-sensitive and will value any opportunity for savings. We are disrupting the market to be the insurance partner that provides the much-needed home protection at a fraction of the cost.”
He also added that many homeowners may not be aware of the amount of annual insurance premium they are paying, and he wishes to urge them to explore the potential saving they may obtain by getting a quote of these new products.
Home Easy is the first online home insurance product for Tune Protect Malaysia where customers can purchase through its website (www.tuneprotect.com) or the Tune Protect mobile application that is available on the Apple App Store and Google Play Store. By purchasing from the Company’s online channels, customers will get to enjoy an additional 15% direct rebate on premium and earn 5 BIG Rewards Points for every RM1 premium for redemption of attractive rewards from an extensive list of BIG Rewards lifestyle partners.
Home Shield is distributed via Tune Protect Malaysia’s widespread agency network nationwide. By purchasing through the Company’s agents, customers will get to enjoy a Safety Net benefit – a 10% financial buffer in addition to the total sum insured of the residential building (HouseOwner).
Additional to the plans are the optional Top Up Packs to tailor their protection needs. The Top Up Packs include Landlord Insurance, Mortgage Loan Protection, Home Care and Smart Home Devices Protection.
For homeowners or homebuyers who may have existing protection but intend to purchase this new plan, Tune Protect Malaysia provides a Switchover Guide to assist them to exercise their choice.
In conjunction with the launch, Tune Protect will be joining hands with Yayasan Chow Kit (“YCK”) for its children’s health fund, Madhya’s Gift. Tune Protect pledges to contribute RM6 to this fund for every Home Easy policy sold from now until 31 December 2021. Madhya’s Gift was set up by YCK to provide healthcare to children from less privileged families who are in need of medical treatment.
For more information on Home Easy, visit their website at www.tuneprotect.com/products/home-easy and for Home Shield please contact 1-800-88-5753 or email at [email protected].
1 Based on Houseowner insurance plans available online in Malaysia as at 20 May 2021
2 Terms and conditions apply. Details can be found at
www.tuneprotect.com/chatterbug/home-easy-lowest-price-guarantee/
3https://assets.ey.com/content/dam/ey-sites/ey-com/en_gl/topics/insurance/insurance-outlook-pdfs/ey-global-insurance-outlook-asia-pacific.pdf
