You must be thinking: “I need home insurance meh? My HDB already got insurance what!” Well you’re not wrong, HDBs are covered by the mandatory HDB Fire Insurance scheme, but did you know that it doesn’t cover everything? The HDB Fire Insurance scheme only covers the building structure in the unlikely event of a fire, to restore the building’s physical...
You must be thinking: “I need home insurance meh? My HDB already got insurance what!” Well you’re not wrong, HDBs are covered by the mandatory HDB Fire Insurance scheme, but did you know that it doesn’t cover everything?
But hold up, it’s not bao ka liao ok. There are some limits and exclusions on what you can claim. Don’t even think about trying to get money for damages you made during your own renovations or if your little brother decided to wreck your room on purpose. And sorry, general wear and tear is on you.You want to make sure you’re covered for the right amount - not too much, not too little.
But if it’s too little, it’ll be like wearing Ant-Man’s armour when you’re really the Hulk. You won’t be fully protected should disaster strike. So make sure your coverage fits your home just right, like a custom-made superhero suit. For further details, google “Average Clause”.There are several types of home insurance coverage that pay out different amounts based on the following:
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