Protect where you feel Protected
Home Is Where You Feel Protected
One of the big-ticket purchases is probably your home.
As we continue to work from home, upgrading home contents such as your workstation, furniture, and electrical appliances has become a greater priority.
Hence, it is important to protect your home and its contents with a suitable home insurance policy.
Home Contents Coverage
Home Contents Coverage
Fire insurance only covers damages that are caused to an apartment by fire such as lightning, domestic explosion, bursting of water tanks, etc, while home contents insurance only covers the contents in your home.
A fire can cause damage to your walls and ceiling, but it can also cause damage to your belongings. However, none of the home contents will be covered by fire insurance as it only covers the cost of rebuilding the walls and floors.
Thus, it is vital to ensure your home and its contents are well-protected.
Comparing policies from a long list of insurers can be tedious. Furthermore, there are many riders and optional add-ons you can include in your property insurance plan for better coverage.
With over 45 years of experience, we have been providing fuss-free solutions for insurance by doing the comparison work for you. We also assist you in claims and renewals as well.
Leave your insurance woes to us.
Home Insurance policies can protect your home structure, its contents, or both.
HDB’s mandatory insurance only covers structural damage in case of fire-related accidents and additional coverage is recommended to fully protect your home.
HDB Fire insurance covers the core structure of the HDB flat such as floors, walls or pillars provided by HDB or its approved developer. It only applies to HDB flats and is not applicable for private property.
Home insurance protects contents and belongings in your home such as jewellery, money and pets.
Home insurance is required in Singapore with HDB flats and condominiums insured by the Management Corporation.
However, basic home insurance from the MC only covers the building structure during a fire. You can go beyond this and get additional coverage such as renovations coverage, fixtures and fittings, appliance repair coverage, artwork coverage (such as valuable paintings or artwork), plus coverage for other unexpected events like floods, pest control, plumbing or break-ins.
If you are wondering how much coverage you should need, let us advise you on that matter. We will be able to help you compare the various home insurance plans from different insurance companies, to make sure that you are not underinsured or overinsured.
¹ From 16 August 2019 to 15 August 2024, the 5-year premiums (including 7% GST) are as follows:
|Flat Type||5-Year Premium (Including 7% GST)||Sum Insured|
|2-room/ 2-room Flexi||$2.71||$48,700|
|5-room/ S2/ 3-Generation||$7.13||$97,300|
|Studio Apartment (Type A/ B)||$2.71||$48,700|
For HDB Apartment (Residential Property)
- HDB Fire Insurance covers for flat owners with outstanding HDB Loans
- Covers the replacement costs of damaged property that are built and provided by HDB
- Not including home content and personal belongings
For Private Properties Or Landed
- No coverage by HDB Fire Insurance
- Insurance coverage should be self-covered by under the management corporation (MC) of the building
For Home Contents
- Damages to valuables in your home (furniture, electrical appliances, etc.)
- Building Structure
- Renovation works/fixtures
- Personal Money
- Personal Possessions
- Loss and theft of personal belongings