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  • Claire Vorster

Fire Insurance v. Home Insurance. Avoid This Expensive Mistake

If you are about to buy a house or you are already a homeowner, take a minute to read this. It could save you 1,000s of dollars and a lot of heartache.

Buying a house is often the most significant investment we will make; yet many of us are not aware of the difference between fire insurance and home insurance. A home loan in Singapore comes with the requirement that you take out basic structural or fire insurance. HDB or landed property, you have to comply.

If you are buying a condo or private apartment, the whole block may have been registered as a Management Corporation Strata Title property. In this instance, check if the Management Corporation is responsible for insuring the property against fire damage.

Expensive Mistake

But do not make the potentially expensive mistake of assuming that this means you have full home contents insurance. Basic fire or structural insurance cannot protect your home in the event of burst pipes, theft or the headache of paying to replace valuable contents. That’s because basic fire and home contents insurance are completely different. Fire insurance covers structural damages to your home’s interior or any HDB provided fixtures.

Belief: Having the HDB Fire Insurance policy arranged by my bank is good enough.

Fact: "If you have an outstanding mortgage loan with HDB or any financial institution, you are required to buy fire insurance. However, the cover is very basic as the insured value is limited to either the outstanding loan amount or the cost of reinstating the building structure.” Soon Gud Voon, General Insurance Association, Singapore

In short, that’s the original floors and ceilings, doors, windows and cabling. Not the white goods, not your lovingly assembled furniture or that picture that you finally decided to buy, not the flat screen TV or your wardrobe (or what’s hanging in your wardrobe) and not your shoe, bag or suit collection.

Worth Protecting Your Home? The Facts

If you are wondering if it’s worth protecting your home, consider the facts. The number of residential fires that broke out last year in Singapore was in the thousands, and that figure does not reflect all the other unexpected damage and loss that occurred to people’s houses and valuable possessions.

You may also be unaware of how quick, easy and surprisingly cheap it is to make sure that your home is properly insured with It costs less than the price of a daily newspaper. In fact, our annual policies cost as little as 30 cents a day. A small price to pay for total reassurance.

Instant Protection Without The Hassle is a local insurance company that knows and understands the needs of people living in Singapore. Whether you live in a HDB, condominium, landed property or if you are a tenant, simply tell us your property type. We will quickly get you a free quote, and then you can print your home insurance certificate directly. And unlike other insurance companies, we don't ask for photos or receipts to cover your valuables.

Not only that, you now get even more benefits for the same price. Our home insurance now extends to cover for deterioration of frozen foods. Plus, as part of our standard package you'll receive Worldwide Family Personal Accident Insurance, so you and your family are protected 24/7 around the world.

More Good News

Good news for pet lovers too. If you want to insure against anything happening to your precious cat or dog, we can give you the option to add your pets onto your home insurance. Then, if your dog or cat is accidentally injured, we’ll pay your vet fees up to S$1000, plus there is a range of additional benefits.

Get an instant free quote on your home insurance in Singapore today. See for yourself how easy it is!

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