As your property is a big investment, it only makes sense to protect your assets adequately through home insurance. Buying fire insurance covers you not only for losses or damages resulting from fire but also from flood and other perils.
Most home insurance only covers the physical structure of the building / unit where actual home contents and renovation costs are not covered as listed below.
If you own a private apartment, the apartment block is likely to be registered as a Management Corporation Strata Title (MCST) property. If so, it is the legal responsibility of your Management Corporation to insure the entire property for fire damage.
If you own a HDB apartment, you may have purchased HDB fire insurance scheme which covers the structure of the building only.
If you have an outstanding mortgage loan with any financial institution, you are required to buy fire insurance for the outstanding loan amount or the cost of reinstating the building structure. As you are responsible of your property you should even consider getting fire insurance even there is no mortgage loan.
Therefore don’t wait, take up adequate insurance to for your home contents and fixtures, fittings and renovations you make to your property to protect against any unforeseen circumstances now!
Did you know that home insurance can provide crucial protection for your most valuable asset? Your home is likely one of the largest investments you’ll make in your lifetime, and home insurance can help safeguard it against unexpected events such as fire, theft, and natural disasters. In addition to protecting the structure of your home, many policies also cover your personal belongings, liability, and temporary living expenses if your home becomes uninhabitable due to covered damages. Furthermore, some insurance providers offer optional add-ons such as identity theft protection, water damage coverage, and equipment breakdown coverage. With home insurance, you can have peace of mind knowing that your home and everything in it is protected.
All Risk offers covers for any accidental loss of or damage to your fixtures, fittings, renovation and contents subjected to the terms and exclusions of the policy. You are even covered for any theft within your premises. As such, in the unfortunate event that your house has been broken into and your contents such as hi-fi equipment and even your precious designer suit is stolen, no worries!
Generally, Insured Perils mean fire, lightning, explosions, impact by aircraft, impact by road vehicle, bursting or overflowing of domestic water tank apparatus or piping, washing machine, water mains, actual or attempted theft accompanied by forcible and violent entry only, hurricane, earthquake, volcanic eruption, flood, riot, strike, malicious damage.
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