Owning a home is a dream come true for many Singaporeans - it's a place where fond memories are made and futures are built, and it's also where you store your most valuable belongings safely. Building your own precious home can up to take years, but an unexpected fire can destroy it all in a matter of seconds.
Protecting your house with home insurance would provide you the peace of mind for you to enjoy it fully. It assures you that you won't lose everything you've worked so hard for in the face of adversity.
What is HDB Fire Insurance, and why it is not enough
You may be wondering - isn't the compulsory HDB Fire Insurance I bought already protecting my home? The short answer is, no. This insurance introduced by HDB (and provided by FWD) is meant to help flat owners relieve the financial burden of repair works. However, it only covers the cost of damage to internal structures and fixtures built and provided by HDB. The content of your home, like furniture, renovations and all your personal belongings are not covered. Hence, if your house catches on fire, you may still be left in a deep financial turmoil recovering your home to its original condition without additional house insurance.
What does home insurance cover?
Aside from fires, a variety of other unexpected events such as theft, burst water pipes and more, can damage your house badly. These damages may occur to not only the structures of your house, but its contents too. With house insurance, you can rest assured that your house and its contents will be covered under any of these unfortunate circumstances. Here are some details on what you'll be covered for:
1. House contents
Our home is full of our personal belongings - from appliances to documents. In the case where your most treasured and important belongings are stolen or damaged, house insurance can help you restore them.
2. Renovations
While the HDB Fire Insurance can take care of the original building of your house, home insurance will compensate you for the renovations you install within your own home.
3. Personal Liability
Other than protecting your house, home insurance also can cover medical expenses, legal fees and potential settlements.
4. Alternative accommodation
Home insurance can also cover the costs of your alternative accommodation in the case where your house becomes uninhabitable.
Home insurance plans your may consider
Now that we've established the importance of house insurance, here are the 5 year plans we recommend:
For more information, please contact 97901583.
Home insurance offers protection against the unpredictable, shields you from liability, provides peace of mind, and safeguards your most important belongings - it's a lifeline during times of crisis and a way to mitigate financial risk. So, if you're a homeowner, remember, home insurance is more than just another expense; it's your home's most trusted guardian.
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