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All I can say is good luck Brojeslov, we looked into this near 9 years ago when we purchased here in La Union, a block and rendered home on the beach on a 2,500M2 lot, no nearby buildings and built by a Canadian with higher standard than local,,,,,,, mattered little as the 2 quotes we got were cost prohibitive as treated as a risk. Our home is all concrete and steel, not flood prone and we have survived 2 typhoons one recently that was cat 4 as well as a 5.6 earthquake 3 odd years ago, We have smoke alarms as well as an ABE extinguisher in the kitchen and one in the garage to cover the solar batteries and PHEV car.

We self insure for the home and bikes but our cars are comprehensively insured, same as health care, sure we have PhilHealth but the rest is out of pocket and seems to have paid off with the savings over the years. Insurance companies are about profit for the shareholders and know their risks and charge accordingly.

Suggest you purchase a solid well constructed home that won't burn down, can stand its own against typhoons and earthquakes, our biggest worry is a decent tsunami as we are only 7/8 meters above sea level but great views lol.

Hold your money in a decent investment, like many simply self insure.

Good luck and OMO.

Cheers, Steve.