THE Housing Authority (HA) has confirmed it has not received any reports of fuel hoarding by its tenants.
It has however chosen to take a proactive stance as a responsible lender to issue a cautionary statement, which it did early this week, in light of recent incidents of panic buying.
“Our home loan customers, many of whom are low- to middle-income earners, may face greater vulnerabilities,” HA chief executive officer Isikeli Navuda said in response to questions sent by this newspaper.
“We believe it is sensible to adopt precautionary measures; it is better to be prepared than to take unnecessary risks.”
HA in a statement on Monday reminded homeowners with mortgaged properties under its Group Property Insurance policy to follow strict safety guidelines when storing fuel at home, reminding them that insurance coverage is based on normal household use and does not apply to properties where fuel is stored in excessive amounts beyond what is reasonably needed for everyday domestic purposes.
“Homeowners are also being warned that insurance claims could be rejected if excessive fuel storage contributes to damage or loss,” it stated.
