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Property All Risk Sharia

We understand that you have worked hard for your personal possessions and that you want to protect them according to your beliefs. Our Shariah-compliant Property All Risk Insurance was developed to protect your most valued possessions and, more importantly, in a way that complies with Shariah principles.

Sharia insurance is a system in which participants share the risks by donating (infaq) part or the entire contribution through a tabarru fund, which will be used to pay the claim in case an accident occurs to one or some of the participants. Sompo Insurance’s role in this case is merely that of the fiduciary company that will manage and invest the funds collected from participants’ contributions. The insurer is responsible only for the operational management of the funds and not as the underwriter as commonly found in conventional insurance.

Similar to the conventional product, Property All Risk Sharia covers your personal residence, as well as furnishings and the vehicle(s) within the property’s premises, from damages or losses arising from fires, natural disasters, and other unfortunate incidents.

 

PRODUCT FEATURES & OPTIONS

FLEXAS Coverage

FLEXAS Coverage

Includes coverage for losses and damages caused by fires, lightning, explosions and impact of falling aircraft parts, and smoke.

Natural Disasters Coverage

Natural Disasters Coverage

Covers losses and damages caused by earthquakes, volcanic eruptions, fires and explosions following an earthquake and/or volcanic eruption and/or tsunami.

Expandable Coverage

Expandable Coverage

Depending on the location of your property, you may choose to cover your property from risks such as riots, strikes, malicious acts, civil commotions, and water damages caused by floods, hurricanes, and storms.

MORE INFORMATION

Insurance Glossary

Insurance Glossary

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