Home Insurance for HDB, Condominium, Landed Properties

What are the difference and factors that I should take note of

• Home Insurance for HDB is a specially designed policy for flat owners. It can give a relief to the flat owners from the financial burden of repairing work in any type of fire incident. It can cover the cost of any type of reinstating damage of the fixtures of your home; internal structures or the products build and set by HBD. But this type of insurance does not cover your home contents like home renovations, furniture or personal belongings.
• Condominium insurance comes with the coverage that can help you to protect the entire repair and losses cost for your condominium unit. This type of insurance offers complete protection from vandalism, theft, water damage, fire damage etc. this insurance is the right choice for the people who are living in a rental home or small single-family home. It can fulfill their unique requirements of home insurance.
• Landed Properties is not a necessary one for your home but an important one. It can protect your landed property, your household items, and your belongings all from an uncertain incident. It can cover all the repairing and replacement costs of your home.

Other matters to check

Home insurance for landed property is more expensive than the other two types of insurance because this is riskier inherently to insure against. For landed property, you can get more coverage also.

One of the key differences between these three types of home insurance is how much your policy requires to protect. As a homeowner, you need to protect your home outside and inside both including the garage, land, other structures or even the decorative items of your home including electronic gadgets, home furnishings and furniture, jewelry etc. With content insurance, you can get the complete coverage but the condo insurance can cover only the interior of your home.

On the other hand, HBD fire insurance may protect your home only if the home structure or interior is damaged by fire but not by other reasons.

With condo and content home insurance you can get the liability protection also and the dwelling insurance coverage. That means your insurance will cover the replacement and repairing cost of your home. HDB insurance is good for the flat owners mostly but not right for the house owners.

You can buy single home insurance or with other add-ons but compare the types of insurance and benefits before signing for one.