The Government Service Insurance System (GSIS) introduced on Tuesday, Nov. 7, its fire insurance open for active GSIS members, retirees or pensioners, and their direct family members.

“Ang payo namin lagi samahan mo na ng allied perils yung fire insurance mo katulad ng insurance sa lindol, bagyo, at pagbaha dahil alam mo naman ang lugar natin susceptible sa ganitong mga kalamidad,” GSIS President and General Manager Jose Arnulfo “Wick” Veloso said in an episode of GSIS Ginhawa For All.

Veloso enumerated the properties covered under the GSIS fire insurance:

• Residential, condominium, townhouse, or apartment unit

• Any commercial or business unit owned by a corporation where any of the qualified assures (applicant) own a majority share in the corporation

• Household or business furniture/fixtures/personal fittings/effects owned by qualified assures (applicant)

“Kaunti lang naman ang dagdag sa premium. Kaya [rin] naman meron tayong basic fire insurance ay dahil doon sa mga nagtitipid at walang budget,” he added.

The GSIS chief explained that the premium rate would consider various factors in an individual’s property.

“May mga zoning and geocoding ng bahay mo ang rate. Halimbawa kung bahain at i-apply mo ang insurance para sa flood ay asahan mo naman na medyo mataas ang premium dahil sa risk involve,” Veloso said.

“Kung fire insurance naman, ang duplex o single attached ay medyo mataas ang rate ng premium kaysa sa single detached. Sa lindol kung nasa fault [system] ang bahay mo ay medyo mataas ang rate ng premium,” he added.

The state pension fund listed the following requirements for new applicants:

• Accomplished GSIS Fire Insurance Application Form (www.gsis.gov.ph)

• Photocopy of title or deed of sale

• Tax declaration

• If corporate properties, assured must own the majority of the shares

When asked if an individual could avail of the fire insurance depending on the number of their houses, Veloso said yes.

“Benepisyo po yan. Pwede po kayo magpa-insure po niyan kaya sinasabi natin na pagdating sa fire insurance, kung ilang po ang ari-arian po ninyo pwede po yan,” he said.