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Government backs house insurance plans
By Gao Liangliang and A Wei |
February 28, 2009, Saturday
|
Print Edition
Print Edition
THE new house insurance promotion was launched in Xinzhuang Town after last year's promotion was applauded by local residents.
A resident with property in the town can now buy a 250,000-yuan (US$347,22) home insurance policy for as little as 50 yuan.
This is one of the local government's major projects and has been given priority on this year's working agenda.
The policy costs 100 yuan but the government subsidizes half. Xinzhuang Town has more than 76,000 residents with property, which means the government will allocate 4 million yuan.
A total of 20,239 families bought insurance last year and nearly 600 received payouts.
Xu Lifeng who lived in the Yuxing Garden was robbed of 8,000 yuan and some jewelry from his home last August. He remembered the house insurance he had bought. Three months later, he received a 5,000-yuan payout which made up some of loss.
The one-year insurance policy provides various levels of protection for residents' homes and possessions, covering losses from fire, theft, storms, power surges, burst water heaters, vandalism and gas explosions.
"I feel reassured that the government knows what we want and it is doing something for its people," said Huang Hongmei who lives in the Shuiqing community.
Shen Zhaoying, a member of the residents' committee, said it was a win-win situation for both the residents and the insurance companies.
"We invited some insurance companies into our neighborhood before, but the residents were quite negative about them," Shen said. "Now that the government has come forward we can rest assured."
A resident with property in the town can now buy a 250,000-yuan (US$347,22) home insurance policy for as little as 50 yuan.
This is one of the local government's major projects and has been given priority on this year's working agenda.
The policy costs 100 yuan but the government subsidizes half. Xinzhuang Town has more than 76,000 residents with property, which means the government will allocate 4 million yuan.
A total of 20,239 families bought insurance last year and nearly 600 received payouts.
Xu Lifeng who lived in the Yuxing Garden was robbed of 8,000 yuan and some jewelry from his home last August. He remembered the house insurance he had bought. Three months later, he received a 5,000-yuan payout which made up some of loss.
The one-year insurance policy provides various levels of protection for residents' homes and possessions, covering losses from fire, theft, storms, power surges, burst water heaters, vandalism and gas explosions.
"I feel reassured that the government knows what we want and it is doing something for its people," said Huang Hongmei who lives in the Shuiqing community.
Shen Zhaoying, a member of the residents' committee, said it was a win-win situation for both the residents and the insurance companies.
"We invited some insurance companies into our neighborhood before, but the residents were quite negative about them," Shen said. "Now that the government has come forward we can rest assured."
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