Did you know that the HDB Fire Insurance scheme only covers the rebuilding costs of the interior structure and fixtures provided by HDB?
In an unfortunate event of a fire or break-in, losses or damages to your renovations, home contents and personal belongings are not covered. If a fire should start from your flat, you could also be potentially liable for bodily injuries and damages to property belonging to your neighbours.
Imagine the financial setback and emotional strains should such an unfortunate incident occur. Hence, it is important to ensure adequate cover for your home and family against unexpected loss and damage.
For as little as $0.19 a day, you and your family can enjoy a complete peace of mind with comprehensive coverage of up to $330,000.
Building (Free Enhanced Benefit)
Covers up to $92,0001 for losses or damages to the building2 arising from insured perils3.
Renovations and Household Contents4
Covers up to $100,000* for losses or damage to your fixtures and fittings, furniture and other personal effects caused by insured perils3 belonging to you and your immediate family.
*Includes coverage of up to $25,000 for losses or damages due to theft by forcible entry.
Alternative Accommodation Expense
Covers alternative accommodation expense of up to $10,000 if your insured premises are made uninhabitable due to insured perils3.
Personal Liability within your Insured Premises
Covers personal liability of up to $200,000 that you and your immediate family may be held legally liable for, such as accidental bodily injury or property damage to a third party.
Worldwide Accidental Death Cover (Free)
Accidental death benefit of up to $10,000 each for you and your spouse (65 years and below).
The sum insured for building is dependent on the flat type and will vary from $19,000/annum for a 1-room flat to $92,000/annum for an executive apartment. Details are specified in the policy terms and conditions.
Building refers to the insured’s residence and fixtures and fittings provided by HDB, based on current standard and specifications as defined by HDB. The common areas, fixtures and fittings added by the insured or previous owner of the building, interior decorations, household furniture and fittings are excluded.
Insured perils shall mean fire, lightning, explosion of domestic appliances, smoke damage, earthquake, bursting and overflowing of domestic water pipes, vehicle and aircraft damage, malicious damage, riots and strikes, spontaneous combustion and theft by violent and forcible entry. Excess applies for selected insured perils where applicable.
Contents shall mean fixtures and fittings installed by the insured (not provided by HDB), household furniture and furnishings, clothing and personal effects belonging to the insured or to members of his immediate family or domestic servants permanently residing with the insured.