X
TAP top app download banner
theAsianparent Singapore Logo
theAsianparent Singapore Logo
Product Guide
Sign in
  • Together Against RSV
  • Pregnancy
    • Due date calculator
    • I'm pregnant
    • Trying To Conceive
    • Labour
    • After birth
    • Baby loss
  • Parenting
    • Parent's Guide
    • Relationship & Sex
  • Child
    • Newborn
    • Baby
    • Toddler
    • Pre-Schooler
    • Kid
    • Pre-Teen & Teen
  • Feeding & Nutrition
    • Diseases-Injuries
    • Breastfeeding & Formula
    • Meal Planner
    • Health
    • Allergies & Conditions
    • Vaccinations
  • Education
    • Pre-School
    • Primary School
    • Secondary School
    • Primary School Directory
  • Lifestyle
    • Money
    • Travel & Leisure
    • Fashion
    • Home
    • Fitness
    • Contests & promotions
  • Events
  • Holiday Hub
  • Aptamil
    • Immunity
    • Intelligence
  • TAP Recommends
  • Shopping
  • Press Releases
  • Project Sidekicks
  • Community
  • Advertise With Us
  • Contact Us
  • VIP

8 Things you probably didn't know about home insurance in Singapore!

5 min read
8 Things you probably didn't know about home insurance in Singapore!

Here are some interesting things you didn’t know a comprehensive home insurance in Singapore could cover...

In January 2015, Baey Yam Keng, MP representing Tampines GRC, asked in the Parliament why home insurance was not compulsory for all home buyers.

Desmond Lee, the then Minister of State for National Development, had replied that even though it isn’t mandatory, homeowners should buy themselves a home insurance. He said everyone should “ensure they have the financial means to repair their properties”.

We work for 4 to 6 years and buy ourselves a home. That much time may not be enough for us to have built enough funds to cover unexpected losses to our most precious property.

Mandatory or not, spending a few hundred dollars every year on insurance is easier than having to fork out five or six-digit figures for calamities such as fire or theft. Home contents insurance and comprehensive home insurance come at premiums ranging from S$70 to S$400 annually, and can help you out with a range of problems your house could cause you.

#OneNationTogether, home, HDB, housing, flats

HDB loans come only with basic fire insurance

When you take an HDB loan you will have to buy a basic fire insurance policy. This became mandatory from 1 September 1994. In fact, these days even banks will insist that you take a basic home insurance policy (or mortgage insurance) alongside your home loan. For banks, it is a security towards the loan amount they’ve given you.

However, do you know that this covers ONLY fire hazard? And you’ll get payments only on the cost of repairing the physical structure of the building that got damaged in the fire.

The furniture you lovingly chose, the paintings you adorned the walls with, the renovations you made on the original structure, the clothes you stuffed your wardrobe with – none of them will be covered.

What you need is home contents insurance

If you want every single thing inside your house – along with the building – insured, you need to take a comprehensive home insurance cover. This includes fire, flood, lightning, earthquake, explosions, and other hazards, plus the contents of your home.

Here are some interesting things you didn’t know the comprehensive home insurance or home contents insurance can cover:

1. Food in your freezer

Let’s say you went on a holiday to Bali. While you were away, power failed at your house and your refrigerator got switched off. You come back home to the smell of rotten food.

Most comprehensive home insurance plans in Singapore cover the food in your freezer or deep storage unit against power failure. An average policy will allow you to claim around S$250 per occurrence.

2. Bicycles on the premises

If yours or your family members’ bicycle gets stolen from your building, you can totally claim for reimbursement. You can claim around S$300 per bicycle.

3. Cyber theft

So, many policies cover your basic losses of personal documents and credit cards. But have you heard of the AXA SmartHome Optimum with its wonderful Cyber Protector Rider? It insures you against identity theft, unauthorised internet or card transactions, online shopping disputes, and defamation. Beat that!

4. Water woes

Now we Singaporeans know a lot about water problems, don’t we? What we mean here is insurance for the cost of repairing burst water pipes, or damage caused due to overflowing of water from tanks or pipes.

One of the companies that gives this option is the NTUC Enhanced Home Insurance. And nah-hah, you won’t be able to make a claim if it is caused by your negligence!

5. Belongings of your domestic help

Suppose you have a household helper, and he or she drops their glasses from the third floor of the building accidentally. Ta-da, make a claim with your home contents insurance! You can claim up to S$1,000 for each item.

6. Belongings of your guests

Yes, you heard that right. Suppose you have a guest staying over and something valuable of theirs is stolen from the house. Comprehensive home insurance to the rescue!

7. Living expenses if your house is under repair

If your home is being repaired and you need temporary accommodation – say a rental house, a home insurance policy such as Chubb Home Insure can cover that. You can claim up to S$18,000 in some policies.

childhood allergies in Singapore

8. Pets

Even if you don’t have a pet insurance while having a couple of dogs and cats in the house, your home contents insurance will cover the accidental death of pets (usually only dogs and cats), theft of pets and damage caused to another person by your pet.

So, you no longer have to worry about that irritating neighbour who always ends up putting their hand in your German Shepherd’s mouth all the time.

Meanwhile, don’t forget…

A comprehensive home insurance plan covers a lot of interesting things. But some of the coverage mentioned here may not be part of the original plan. You may have to add them as extensions to the policy, thereby increasing the premium amount.

Secondly, you may have to pay excess for each item, and that may not be worth the reimbursement in the end. Excess is an amount you are required to pay before making a claim.

So before you jump around and start claiming for all your covered items, read the fine print of your policy document and prioritise what you really want reimbursement for.

Also READ: 3 Types of insurance you should consider for your child

Partner Stories
Balabala Brings More Fun to VivoCity with its Grand Opening!
Balabala Brings More Fun to VivoCity with its Grand Opening!
Travelling with Kids? Here’s How to Keep Sore Throats at Bay According to a General Practitioner
Travelling with Kids? Here’s How to Keep Sore Throats at Bay According to a General Practitioner
Embark on an Educational Journey at the PCF Sparkletots Open House on 19th October!
Embark on an Educational Journey at the PCF Sparkletots Open House on 19th October!
Cool Comfort for Kids and Parents with Samsung’s WindFree™ AC
Cool Comfort for Kids and Parents with Samsung’s WindFree™ AC

Got a parenting concern? Read articles or ask away and get instant answers on our app. Download theAsianparent Community on iOS or Android now!

img
Written by

BankBazaar Sg

  • Home
  • /
  • Lifestyle
  • /
  • 8 Things you probably didn't know about home insurance in Singapore!
Share:
  • Top Places to Buy the Best Dragon Boat Festival Dumplings in Singapore 2025

    Top Places to Buy the Best Dragon Boat Festival Dumplings in Singapore 2025

  • Singapore’s First A.I. Sports Hub, AiRENA, Opens with Groundbreaking Under Armour Collaboration

    Singapore’s First A.I. Sports Hub, AiRENA, Opens with Groundbreaking Under Armour Collaboration

  • #FirstAid: What to do if you are scratched or bitten by a dog

    #FirstAid: What to do if you are scratched or bitten by a dog

  • Top Places to Buy the Best Dragon Boat Festival Dumplings in Singapore 2025

    Top Places to Buy the Best Dragon Boat Festival Dumplings in Singapore 2025

  • Singapore’s First A.I. Sports Hub, AiRENA, Opens with Groundbreaking Under Armour Collaboration

    Singapore’s First A.I. Sports Hub, AiRENA, Opens with Groundbreaking Under Armour Collaboration

  • #FirstAid: What to do if you are scratched or bitten by a dog

    #FirstAid: What to do if you are scratched or bitten by a dog

Get advice on your pregnancy and growing baby. Sign up for our newsletter
  • Pregnancy
  • Family Occasions
  • Lifestyle
  • Normal Delivery
  • Ages & Stages
  • Trying To Conceive
  • News
  • TAP Community
  • Advertise With Us
  • Contact Us
  • Become a Contributor


  • Singapore flag Singapore
  • Thailand flag Thailand
  • Indonesia flag Indonesia
  • Philippines flag Philippines
  • Malaysia flag Malaysia
  • Vietnam flag Vietnam
© Copyright theAsianparent 2025. All rights reserved
About Us|Privacy Policy|Terms of Use |Sitemap HTML
  • Tools
  • Articles
  • Feed
  • Poll

We use cookies to ensure you get the best experience. Learn MoreOk, Got it

We use cookies to ensure you get the best experience. Learn MoreOk, Got it