Natural disasters such as typhoons, earthquakes, and floods are a part of life in the Philippines. These events can cause serious property damage especially to newly built or preselling homes. That’s why many homebuyers often ask: “Kung masira ang bahay dahil sa bagyo o lindol, sino ang liable buyer ba o developer?” The answer depends on one important factor WHEN the damage occurs.
Once the buyer signs any of the following documents:
Without AON insurance, even if your house is damaged or destroyed, you’ll still need to pay your monthly amortization — because the loan remains, even if the structure is gone.Having AON coverage ensures that you are financially protected when disasters strike.
After turnover, you’re the legal owner — and just like a car owner, you must protect your investment.
A single typhoon or flood can cause thousands of pesos worth of damage. Without insurance, you’ll have to shoulder repair costs alone. That’s why having Fire and Acts of Nature (AON) Insurance is crucial, especially for homes under bank or Pag-IBIG financing. This insurance covers your home against natural disasters and unforeseen accidents, ensuring that when calamities strike, your property and peace of mind are protected.
If your home is under Bank Financing or a Pag-IBIG Housing Loan, check your insurance coverage today:
Natural disasters may be beyond our control, but being prepared is within our power. Understanding who is responsible for property damage whether it’s the developer before turnover or the buyer after acceptance ensures you’re protected from unexpected losses. Always secure proper insurance coverage like Fire and Acts of Nature (AON) to safeguard your home and finances.
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