How To Claim Home Insurance Successfully In Japan – Living in Japan as a foreigner, you can face challenges due to culture shock, language barriers and just cross-cultural misunderstandings. But beyond these obvious day-to-day experiences, foreigners also have to deal with obstacles during times of stress or disaster. If you own or rent property in Japan and something goes wrong, what do you do? While your best plan is to prepare the appropriate insurance as you do in your country, finding and buying home insurance in Japan can be difficult even if you speak Japanese well. Fortunately, we’re here to help.
In addition to explaining the basic coverage and costs of a typical Japanese home or rental insurance policy, this handy guide also includes a list of English-speaking insurance agencies in Tokyo to help you make the best decision during your stay.
How To Claim Home Insurance Successfully In Japan
If you rent or own a home or business in Japan, you need fire insurance. In fact, many apartments require fire insurance in their leasing contracts.
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Simply put, fire insurance covers your valuables if they are damaged by fire, smoke, etc.
The average cost of fire insurance in Japan is between ¥20,000 – ¥40,000 for 2 years, with slightly higher prices depending on the other options you choose. Of course, you should check with your insurance company about the exact price and possible add-ons for your plan.
Designed to keep your belongings safe. The cost of your policy will be determined based on your valuables. These figures are set in broad groupings with limited coverage and are not the detailed plans more commonly available in other countries.
This includes accidents that cause damage to your home or even your neighbor’s unit. Like an overflowing bathtub, a gas fire when someone forgets to leave a pan full of potatoes on the stove or some other accident.
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This very useful part of the Japanese insurance plan covers you if someone’s property is damaged or injured due to an accident related to it or due to your negligence. For example, if you have a bike accident and run into someone on the road, part of your insurance plan will cover other people’s medical expenses and property damage.
Note that some companies provide insurance for international employees living in Japan on temporary contracts. You should confirm that this is for you and ask for details of what is included in your coverage. You may still want to add a Japanese fire insurance policy to ensure you are covered for home emergencies and accidents.
Although it seems like earthquakes should be part of this coverage, the truth is that regular fire insurance in Japan does not cover natural disasters. Fortunately there is an additional insurance option, called earthquake insurance, that can help in dangerous situations.
As you know, living in Japan means preparing for earthquakes. However, Japanese insurance policies state that fire insurance does not cover damage caused by earthquakes, including damage related to fires that may spread as a result of one. That’s why it’s important to add additional earthquake insurance to your policy. Note that you can only get this coverage as an add-on, as it is not sold as a stand-alone product. Japan Earthquake Insurance Guide: Simple Questions
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According to Japan’s Ministry of Finance, the cost of an earthquake insurance policy varies from prefecture to prefecture with a minimum cost of around 6500 yen and a maximum of around 32,600 yen per year. Please see the website for more details.
Earthquake insurance is specifically for earthquake disasters. This covers the loss of your personal belongings (including household goods) as well as property damage caused by fire, destruction, landslides, and debris or water damage, assuming that all of these occur as a result of earthquakes, volcanic eruptions and tsunamis.
Please note that your additional earthquake coverage will not cover precious metals, jewelry and antiques with a value exceeding 300,000 yen per item or per set, currency, securities, deposits and savings certificates, revenue stamps, stamps, or cars.
When renting or owning property in Japan, selecting, purchasing and maintaining insurance to cover the cost of damage, loss, liability and damage caused by earthquakes and disasters is important for your safety and peace of mind.
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While we understand that some may opt for coverage with companies outside of Japan, we want to help you make the best policy choices for you and your family in the country you’ll be calling home for the next few months or years.
For this purpose, we have compiled a short list of English-speaking insurance companies that can advise you on the overall policy, give you an estimate and help you submit all the necessary documentation. They will provide you with a clear understanding of your policy and all the necessary costs so that you can feel comfortable and confident in your insurance coverage choices.
In this easy-to-follow guide, we cover the different types of insurance offered to homeowners in Japan and give you the information you need to choose the right one based on your needs.
It is located a 5-minute walk from Shinsen Station and within walking distance from Shibuya Station, providing convenience for commuting to work and school. This designer apartment located in a quiet residential area has a structural design with beautiful curved lines. With shops and supermarkets nearby, the location is convenient for living. The apartments offer unit types from 2LDK to 3LDK to cover different lifestyles, along with various amenities such as floor heating and bathroom dryers.
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Gotanda Sta. is in 3 min. walk Located in a very convenient location, next to TSUTAYA. The Meguro River is very close. It has a luxurious entrance as well as functional in-house facilities. Units on higher floors get excellent views.
High-rise apartment with views of Tokyo Tower, Rainbow Bridge, and Roppongi Hills. Pets welcome. 8 min. from Shirokanedai station.Water damage is one of the most common and expensive problems faced by homeowners. Water damage can quickly lead to serious repairs, whether it’s a broken pipe, a leaky roof, or flooding from a natural disaster. The good news is that many homeowner’s insurance policies cover water damage. However, making a successful insurance claim can be challenging. In this blog post, we will share some tips on how to make a successful water leak insurance claim.
Water leak insurance is a type of insurance that helps to cover the cost of repairs if your home or business suffers water damage due to a leak. It can also cover the cost of temporary accommodation you may need while your property is being repaired.
To make a successful water leak insurance claim, you must provide proof of damage caused by the leak and receipts for repairs or temporary accommodations. It will help if you keep correspondence with the insurance company, such as email or letter.
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Water leak insurance can cover a wide range of costs associated with a water leak, including repairs, replacement appliances, and even hotel stays if your home is uninhabitable. To make a successful claim, you will need documentation of the leak and any damage. Keep all receipts and invoices related to the incident so that you can present them to the insurance company.
The Property and Casualty Insurance market in China is segmented by business line (motor, corporate property, liability, home, engineering, marine) and distribution channel (direct sales, individual agencies, cross-border and cross-sector JVs). – Growth, Trends, and Forecasts (2020-2025)
In China, Insurance companies have licenses for life or non-life business but not for both until 2003. Post that, non-life insurance companies can write personal insurance and short-term health insurance. In the non-life insurance business, the ‘basic’ type of insurance, as classified by the regulator, includes motor, property, engineering, liability, marine insurance covered in the type of property and casualty insurance in the study.
According to the China Insurance Regulatory Commission, the original insurance premium income of the property insurance business was 1.077 trillion yuan in 2018, an increase of 9.51% year-on-year. For FY 2019 through May, the largest line/type of property & casualty insurance in terms of total premiums collected in the current year to date was motor (60.2%) followed by liability, corporate property, engineering and home insurance.
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This section covers key market trends shaping the China Property & Casualty Insurance Market according to research experts:
The uniqueness of China’s online insurance market is that big players cooperate with tech giants or tech giants create their own new online insurance business unlike the main trend in other economies. . In China, small insurtech companies do not create differentiated offerings to compete with traditional players, but offer services that increase the affordability of traditional players’ offerings through services.
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