What is Home Content and what is the type of coverage and what is not covered?
Home content insurance is an insurance that can cover all the costs of replacing and replacing your belongings in a home like the furnishings, personal possessions. It includes a TV, stereo, computer, any other type of electrical appliances, jewelry, and clothing, equipments etc.
This type of insurance can cover all the household items of you and the family members who live with you in your home. You can add the content insurance with your home insurance to get complete coverage. Content insurance does not cover few things like the insect or termites damages, rodent or bird damages, rot, rust, mold and regular wear and tear of any products will not be covered by the insurance.
What is HDB Fire Insurance and why is it not enough?
The HDB fire insurance covers the cost of reinstating damaged internal structures, fixtures, as well as areas built and provided by HDB. It does not include home contents such as furniture, renovations and personal belongings.
I already purchase HDB Fire Insurance; do I still need to buy Home Insurance?
Yes. Because the HDB fire insurance covers only the fire damages of your physical structure of the flat and fitting or fixtures of HDB. Home insurance covers the entire construction, your belongings, furnishings etc all.
How do you choose the Home Insurance policy and what is the cost?
To choose the right home insurance, you need to be very careful.
- First, you need to know and understand the importance, clauses and coverage of your home insurance.
- Then you need to understand your requirements like whether you are looking for basic coverage or more add-ons.
- Check the financial strength of the insurer and check for available home insurance policies of different companies
- You can check the riders also if the solo home insurance is not enough for you
- Get quotes from different companies and buy the one with the best price and coverage
The cost of the insurance may vary as per the size of your home, locations, coverage type etc.
- The average cost of 3 room home is s$90
- 4 room home S$145
- 5 room home S$ 220
How should I choose and compare Home Insurance?
To select and compare the home insurance, you can search online. Get quotes from different companies and compare the cost, premiums and coverage. You can go with the one that comes with the best offer. It is better to shop around for the insurance also.
