What to Do If Your House with Mortgage Still Gets Hit by a Tornado

Ini yang Harus Dilakukan Jika Rumah Masih KPR Kena Tornado

"This is What You Should Do If Your House with Mortgage Still Gets Hit by a Tornado"

Dream - Researchers from the National Research and Innovation Agency (BRIN) referred to the whirlwind in Rancaekek, Bandung Regency, West Java, as a Tornado. The whirlwind occurred on Wednesday, February 21, 2024, and is said to be the first Tornado in Indonesia. Five districts were affected by the natural disaster. Fortunately, there were no casualties in this incident.

This natural disaster raises another question, what if houses that are still under Home Ownership Credit (KPR) are affected by tornadoes like what happened in Rancaekek?

What to Do If Your House with Mortgage Still Gets Hit by a Tornado

According to the Ministry of Public Works and People's Housing website, as quoted by Merdeka.com, the first step if a subsidized house is affected by a natural disaster such as a tornado is to report it to the implementing bank.

Ask the executing bank whether the case experienced falls under force majeure in the credit agreement. If it does, then the credit can be terminated. For further details, it can be discussed together with the executing bank.

It should be noted that during the subsidized or non-subsidized mortgage agreement, there is insurance attached to the customer. However, the insurance referred to is life insurance and fire insurance.

The following is the translation of the given 'Bahasa' text to 'English' while preserving any html tags: "Bank has an interest in ensuring that the properties they finance with home loans (KPR) are well protected through property insurance. Therefore, if a fire or significant damage occurs, the cost of repair or replacement will be covered by insurance, reducing financial risk for both parties."

Tornadoes have also struck several countries in the world, especially the United States. One of the hardest-hit states was the city of Joplin in Missouri, which occurred in May 2011.

USA Today even once reviewed, the Joplin tornado destroyed a quarter of the city. This tornado had a speed of over 320 km/h that swept Joplin, Missouri clean. The tornado resulted in more than 8,000 buildings being leveled to the ground.

As many as 1,000 people were reported injured and 161 people died. Losses reached Rp43 trillion. According to Merdeka.com, the losses caused by the incident amounted to US$2.8 billion or equivalent to Rp43 trillion (exchange rate of Rp15,591 per US$).

The experts estimate that the Joplin tornado became the most expensive and deadliest natural disaster. The impact of the tornado winds causes direct or indirect losses to the local economy.

The direct losses can be seen from the destruction of assets, road damages, power and telephone network disruptions, plant and factory damages, housing damages, and natural resource losses. Meanwhile, the indirect losses can be seen from disrupted production and sales, increased transportation costs due to diverted goods, decreased tourism activities, and utility disruptions.

Kementerian BUMN

9 Strategic State-Owned Enterprise Projects Targeted to be Completed Before Changing President

The Ministry of State-Owned Enterprises targets these 9 projects to be completed by October 2024.