get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Browse New Launch Condos

Find new units for sale

Prefer to do-it-yourself?

Check out how our platform can help

Browse Resale Listings

Connect with sellers through our app

RESOURCES

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

Affordability Calculator

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Connect with buyers through our app

RESOURCES

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell my HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

HOME E-VALUATION

For tenants

Rent with an Agent

Dedicated experts at your service

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to selling condo/landed

For landlords

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

RESOURCES

How to Lease an HDB

A step-by-step guide to renting HDB

How to Lease a Private Property

A step-by-step guide to selling condo/landed

Do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Insure your home for free! This is a limited-time offer, so get yours today!

Is home contents insurance necessary?
Share on facebook
Share on twitter
Share on email
Share on whatsapp

What You Need to Know About HDB Fire Insurance Scheme

Ohmyhome

Ohmyhome

Share on facebook
Share on email
Share on whatsapp

Written by: Marissa Saini

If you’re scoffing at the idea of your precious home catching on fire one day, it’s time for some tough love. While we can easily be caught up with the fun side of home ownership – decorating, furnishing, renovating – it’s almost incomprehensible to entertain the possible harm that can befall on your beloved abode. According to Singapore Civil Defence Force (SCDF), there were 2,411 home fire cases in 2018 alone. Before you decide to breeze past the mandatory HDB Fire Insurance Scheme, let us fill you in on what you need to know.

1. The standard coverage lasts 5 years

The HDB-appointed insurer, Etiqa Insurance, provides the HDB Fire Insurance Scheme for 5 years. Once the 5 years are up, a renewal of your plan is required. The rate of your 5-year premium is entirely dependent on your flat type, but it’s largely affordable and can cost as low as $1.50 for 1-room flats till up to $7.50 for executive or multi-gen flats.

2. It does not cover damages brought about by other causes

Besides being engulfed in a raging inferno, your flat could also be vulnerable to other mishaps such as water damage, electrical malfunction, etc. Those, unfortunately, fall outside of the basic fire insurance coverage. You’ll need to sign up for a more extensive plan on top of your mandatory fire insurance commonly known as home insurance to ensure you won’t need to pay out of pocket to repair damages when misfortune strikes.

3. It won’t cover the contents of your home aka your personal belongings

Signed up for HDB fire insurance and think you’re in the clear? Not so fast. While the physical structure of your home is covered, or more specifically the “internal fittings like water pipe bursts, fixtures, and structures”, that still leaves your furniture, electronic appliances, renovations you’ve made to your HDB and other priceless treasures which are woefully unprotected by insurance. In short, things in your flat that were not originally provided by HDB are not covered. Yes, even your fancy built-in wardrobe.

4. It’s no longer applicable for condo

Moving to a condo? Change to a new plan.
If you’re moving to a new HDB home, the process is a lot more straightforward as you can simply update your change of address by reaching out to Etiqa. However, if you’re moving to a condo, the fire insurance is no longer applicable to your new home as the plan only covers HDB flats. A change in an insurance plan is necessary if that were the case.

Are you burning up with the desire to get a more extensive home coverage plan? We think that’s best in order to protect the invaluable sentimental belongings in your home. Plus, it could also save you from splurging megabucks in order to pay for expensive repairs or reconstruction. Best of luck and remember not to leave the stove on!

Sources: SCDF, HDB


Related posts:

Subscribe Now

Get a notification every time we upload a new blog post.

Insure your home for free! This is a limited-time offer, so get yours today!

Is home contents insurance necessary?

Featured Blogs

Highlighting unique property views for every Singaporean

get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

Do it yourself

Browse New Launch Condos

Find new units for sale

Prefer to do-it-yourself?

Check out how our platform can help

Browse Resale Properties

Download the app and speak directly to sellers

RESOURCES

Affordability Calculator

Calculate required tax for selling

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

bUY OVERSEAS

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Free Home E-Valuation

Know the value of your property in seconds!

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell an HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

get an agent

Rent with an Agent

Dedicated experts at your service

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Browse Rental Listings

Download the app and connect with landlords

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to renting condo/landed

get an agent

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Download the app and connect with tenants

RESOURCES

How to Lease my HDB

A step-by-step guide to renting out an HDB

How to Lease my Private Property

A step-by-step guide to renting out condo/landed

FEATURED ARTICLES

Ohmyhome Raises US$5M in Series A+ Funding

Ohmyhome, the leading Property 
One-Stop Shop Platform

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Social media

Other