Privately-owned low-cost high-rise housing in Selangor may soon come with insurance coverage, reported The Star.
This comes as the state government mulls selecting an insurance firm that can provide coverage for such flats, which are often damaged by natural disasters like storms.
“The owners need immediate financial assistance, especially because it is expensive to repair the damage. Most of them do not have sinking funds and without insurance, it can be difficult,” said Selangor Housing and Urban Living Committee Chairman Haniza Talha.
With their limited funds, most management committees (MC) and joint management bodies (JMB) could not afford to pay for extensive insurance schemes, she said.
With this, the state and the Selangor Housing and Property Board (LPHS) will meet with insurance providers to discuss the available plans.
“We will look at the various plans to see which has the best coverage with reasonable premiums for buildings and common properties.”
However, this would only be possible if everyone was willing to take up the offer, noted Haniza.
She revealed that Selangor has over 1,300 private flats, most of which would usually seek the state government’s assistance for repairs even though they are privately-owned.
LPHS Executive Director Nazmi Osman noted that many of the flats are covered only by basic fire insurance.
“They also may not have the expertise or experience in taking up the correct insurance plans, so if LPHS can assist and advise them, we believe it can be beneficial,” he said following the launch of the 2018 Selangor JMB/MC Assembly at Dewan Hamzah in Klang.
The event saw several management bodies share successful revolutionary ideas in creating conducive living spaces as well as income generating concepts.
The state plans to implement some of these ideas at other low-cost flats, said Haniza. “We will study the ideas and concept presentation, and adopt the best ones that can be models for others.”
Among those that will be implemented are the three winners at the 2018 K-Innovation Awards – e-Income by Iris, Saujana Utama, The Stara Recycling Centre by Kenanga, Gombak Permai and Zero Vandalism Lift from Desa Mentari 10, Petaling Jaya.
Image source: The Star
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my
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