S'pore HDB Fire Insurance: Everything you need to know about it - The Independent Singapore News

28/5/2022 11:24:00 AM

S'pore HDB Fire Insurance: Everything you need to know about it - The Independent Singapore News

S'pore HDB Fire Insurance: Everything you need to know about it - The Independent Singapore News

What exactly is this HDB Fire Insurance Scheme? What does it cover and what does it entail? Read on to find out everything you should know about the HDB Fire Insurance, and whether it’s enough for your needs.

There are two types of Home Insurance availableCoverageCoverageHome Insurance can cover renovations that you have done, together with the fixtures and fittings that you have installedPersonal LiabilityIn the scenario where your house is inhabitable, Home Insurance gives you a daily payout to find alternative accommodation, capped at a specific number of days

Personal Items: Valuables & MoneyCould be an add-on. This covers only specific breeds of pets, usually dogs and cats. Dependent on insurer1. How much would your renovation cost if your whole house were to be affected?2. What is the value of your home contents?

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Why This Lady ‘Downgraded’ Her Home From a Condo to HDB Flat in Bukit PanjangCandy decided to purchase a 1,040 sq ft 4-room HDB flat in Bukit Panjang, as she realised her previous 1-bedroom condo was too small. Throughout the homebuying and the renovation process, she consulted her Feng Shui master.

Some Marsiling HDB residents shocked by acquisition for checkpoint expansion, others welcome moveNews that his four-room flat would be acquired came as a shock to retired technician Aluwi Mohammedan, who has been living in Block 212 Marsiling Crescent for more than 20 years. His Housing Board block is

Some HDB residents shocked by acquisition for Woodlands Checkpoint expansion, others welcome moveWah the government can just anyhow move an entire block people around Ah? It’s as if you don’t really own your HDB like that. Expand checkpoint ...but Malaysia side got Expand meh ?🤔 Good reminder: u dont own anything in Singapore. Never. U re a rich local: move ur money away!! Mark my words.

Woodlands Checkpoint expansion to involve acquisition of 9 HDB blocks in MarsilingNine HDB flats in Marsiling will be progressively acquired by the government as Woodlands Checkpoint is redeveloped and extended.

HDB launches over 4,500 BTO flats, including in Bukit Merah, Queenstown

HDB launches over 4,500 BTO flats, including in Bukit Merah, Queenstown under prime location modelA total of 4,583 Build-To-Order (BTO) flats were launched for sale by the Housing Board on Friday (May 27), including two projects in Bukit Merah and Queenstown under the prime location public housing (PLH) model which comes with a 6 per cent subsidy clawback clause upon their...

No Yes In addition, you are the beneficiary of the insurance scheme instead of the bank, even if you are still repaying your home loan with the bank.Read full article 25 May 2022, 5:00 am · 5-min read In a blink of an eye, it’s been two years since COVID-19 arrived on Singapore’s shores.High Court finds SDP deliberately made false post about 10m population Residents will have to move out by the second quarter of 2028.Copy to clipboard https://str.

There are two types of Home Insurance available Insured Perils: This covers you for specific events or mishaps such as fires, floods, and thefts. All-Risks: This covers a broader range of situations, making it typically more expensive. But as the country opens up and Safety Management Measures ease, hybrid work models and work from home arrangements remain the norm for many. Coverage Home Insurance by different insurers could offer different coverages as unique selling points to differentiate themselves from other insurance companies. "This is quite a big flat, and we don't expect a similar-sized flat (at the replacement site). The type of Home Insurance also affects the type of coverage available. Candy, a Banking Executive, is one of those people who realised this during the pandemic, especially as she lived alone in a one-bedroom, 517 sq ft condominium in The Hillier . However, there are some areas that most if not all Home Insurance covers: Coverage Scope of Coverage Renovations Home Insurance can cover renovations that you have done, together with the fixtures and fittings that you have installed Home Contents This includes household items and appliances such as washing machines, fridges, television etc Personal Liability This provides you with coverage in the event you become legally liable for a mishap that happens at your home. We don't know how much we would have to fork out for the new flat," he said.

For example, if a fire starts at your house and spreads to your neighbour Alternative Accommodation In the scenario where your house is inhabitable, Home Insurance gives you a daily payout to find alternative accommodation, capped at a specific number of days Personal Accidents This covers for medical expenses or a payout in the unfortunate event of death or disability, and is also applicable to your domestic helper Personal Items: Valuables & Money This offers coverage for your money, valuables and other personal belongings. Spurred by the want for more space, she decided to put her house on the market and sold it in February 2021. Madam Devi Pushpaanthan, 55, who works as a packer at a factory, said she will miss her four-room corner flat which comfortably fits her family of five. There is a claim cap for each item type Pets Could be an add-on. This covers only specific breeds of pets, usually dogs and cats. “I knew that living in an HDB flat would make more sense since it’s more affordable, but it was an option that was not available to me when I purchased my condo in The Hillier because I hadn’t reached 35,” remarks Candy. Dependent on insurer Possible Factors for Consideration To decide on the best possible home insurance plan for yourself, you would first need to understand your needs to ensure that you do not over-insure or under-insure yourself. Student Muhammad Zulhilmi Zainal, 22, said his parents were stressed by the news as they did not understand what was happening. Some questions you could ask yourself to determine your needs include: 1. “I can use the money on renovations,” adds Candy. Residents will have to move out by the second quarter of 2028.

How much would your renovation cost if your whole house were to be affected? This amount is largely dependent on the size of your house. If the renovation of your house is minimalistic, you could make do with lower coverage. Therefore, she limited her viewings to the area. Madam Loh Swee Fang is excited to move to the new replacement flats, which will have modern and comprehensive facilities including adult and elderly fitness stations, pavilions and a childcare centre. On the other hand, if the renovation of your house is lavish and extravagant, you might want to consider plans with a higher insured sum. You could use the costs of your previous renovations as a rough gauge. With the help of PropertyGuru , she filtered the listings based on the building’s age and amenities. Else, you could refer for an estimate." Ms Serene Tay, 46, who works in sales and has been living at the block since 2016, said she has received calls from friends and family congratulating her. When ST visited the block at noon, HDB officers were informing home owners of the acquisition and its rehousing benefits.

2. Story continues. What is the value of your home contents? You could come up with a rough estimate of the value of the items at home, such as furniture and other valuable items, and decide on the amount of coverage that you need. is an estimate for you. "I've been wanting to move somewhere closer to the airport as I'm a frequent traveller," he said, adding that he felt relieved that he did not go ahead with renovation plans for his Woodlands flat. 3. Is the plan able to meet your needs? Different people place emphasis on different things that are important to them. "I'm stressed too, because it was quite sudden and I have to explain it to them," he added.

Some may be more concerned over their pets while some could be more concerned about securing sufficient hospital allowances in case their loved ones got hurt. "We have other outlets in the Woodlands area, so the staff will be relocated," he said. In this case, you might want to source a plan that offers the best coverage in the areas that you are more concerned with to best suit your needs. These three questions serve as a rough guide for you to understand your needs. For a more comprehensive guide and evaluation, you may check out .