Home SmartPLUS Insurance explained: benefits, limits and the fine print
RHB's Home SmartPLUS insures the building on an agreed-value basis and waives the average clause. Here is what that means and what the product page and disclosure sheet actually cover.
Home SmartPLUS is RHB Insurance's building cover for homeowners, distinguished mainly by two structural choices: it insures the building on an agreed-value basis rather than an indemnity basis, and it waives the average clause that would otherwise reduce a payout if the property turns out to be under-insured.
What "agreed value" and "waiver of average" actually mean for a claim
Under most standard fire or houseowner policies, a claim is reduced proportionately if the sum insured turns out to be lower than the property's actual rebuilding cost at the time of loss, a mechanism known as the average clause. RHB's product page states that Home SmartPLUS protects the building on an agreed value basis and waives this clause, meaning the agreed sum is what is paid out, without that proportionate reduction, provided the claim otherwise falls within the policy's terms. This is the product's central selling point and the detail most worth confirming directly in your own policy schedule, since the agreed value is set when the policy is issued and should be revisited if you renovate or extend the property.
What the product covers, according to the product page
RHB's own page lists the plan as open to anyone with a legal interest in the property, not limited to RHB mortgage customers, and highlights two specific extras beyond the core building cover:
- An inconvenience allowance of up to RM1,000 in the event of a fire or explosion claim
- Windstorm damage cover extending to outdoor fixtures and fittings, not just the main structure
What is not detailed on the product page
RHB's public product page for this plan is comparatively brief, and does not itemise a full schedule of covered perils, exclusions, or a detailed claims process the way some competitors' pages do. This is precisely the situation the product's own disclosure documents exist to resolve: RHB publishes a Product Disclosure Sheet and separate policy wording specifically for Home SmartPLUS, alongside a brochure and an e-flyer. Anyone considering this plan should ask for and read those documents rather than relying on the product page summary, since the disclosure sheet is where the full list of covered perils, the claims process and any specific exclusions would actually be set out.
What governs if a figure here looks different from what you are quoted
The figures and features summarised in this article reflect RHB's product page as retrieved on 21 August 2026 and the disclosure sheet listed in the sources above. Where anything here differs from what you are quoted, or from the current version of RHB's own documents, the disclosure sheet and policy wording are what actually govern your cover and any claim, not this article or the marketing page. Product terms are reviewed periodically, so confirm current figures with RHB or your advisor before relying on them.
What to check regardless of which insurer you choose
The agreed-value structure and average clause waiver on this plan are useful examples of a distinction worth checking on any home building policy, not just this one:
- Is the building insured on an agreed-value or indemnity basis, and if agreed value, when was that figure last reviewed against the current rebuilding cost?
- Does the policy include, or waive, the average clause, and under what conditions does that waiver actually apply?
- What specific perils are covered beyond fire, such as flood, storm, or theft-related damage, and are any of them add-ons rather than included as standard?
- Does the policy insure the building only, or does it also need a separate householder policy for contents?
Nothing in this article should be read as a claim that Home SmartPLUS is the cheapest or most suitable building cover for any particular homeowner; that depends on the property, its rebuilding cost, and which specific perils matter most to you.
Talk to an advisor
Getting the agreed value right, and understanding exactly what the average clause waiver does and does not cover, is worth a proper conversation before you buy or renew. Compare home insurance at /compare/malaysia/property, or find a licensed advisor through our directory.
Sources
This content is educational information from a licensed advisor, not financial advice. Product details vary by insurer — verify specifics with an advisor.
