Every home is special, and truthfully, they’re irreplaceable. Whether you’re a property owner or tenant, your residence gives you comfort and shelter against the world’s challenges. Thankfully, home insurance policies can help recover everything you might lose if something happens to it.
Insurance policies might seem negligible, but you only know you need them when the insured event happens. A home insurance policy usually safeguards the following items:
- Loss of valuables
- Fixtures & fittings
- Damage to the house
- Home contents
- Interim accommodation
- Compensation for occupiers
- Loss of pets
- Personal liability
Here are all the best insurance deals we’ve found perfect for 2022!
Our Handpicked Best Insurance Deals of 2023
1. AXA SmartHome Essential
With SmartHome Essential from AXA, you get complete property coverage, including fixtures and fittings and their contents. Plus, you gain temporary accommodations after the insured event makes your home uninhabitable.
- Receive up to S$50,000 Personal Accident cover for you and your family.
- Sign up for three years to receive a 5% discount and higher Sum Insured for your fixtures and fittings, contents, and worldwide personal liability.
- No deduction on wear and tear/ depreciation
- Temporary accommodation
2. MSIG Enhanced HomePlus
If an insured event happens, MSIG Enhanced Homeplus gives you complete replacement accommodations. Additionally, the insurer will clear out all debris from your former home and even cover the loss of pets, accidental breakage of mirrors and glass, frozen food deterioration, and even domestic helper fraud.
- Up to $270,000 coverage for all your renovations, movable household items, household contents, and personal belongings
- Get up to $1,000,000 personal liability anywhere in the world
- Comprehensive but optional cover for home and household contents
- Temporary accommodation
- Pet Loss
- Fixture, furniture, and miscellaneous damage coverage
3. Aviva Home Lite
You can personalise your Aviva Home Lite coverage. Insured households can get up to S $100,000 content coverage and no penalties for misstating content value. After an insured event, Aviva Home Lite gives you an emergency cash allowance too.
- Up to S$100,000 Household Contents coverage
- Instant savings on your premiums when you purchase their three-year plan
- No penalty for under-insurance (misstating the value of your possessions)
- Emergency cash allowance
- Home cleaning expenses
4. FWD Home Insurance
FWD’s insurance policy for homes works well for landlords. It protects landlords from tenant rental defaults or loss of rent due to an insured event. Plus, it covers assistance services in any occasion too.
- Covers tenant rental defaults
- Fully provides for electrical, plumbing, locksmithing, and other assistance services in a policy year
- Addresses expenses arising from loss of home use due to an insured event.
Promo: Use the code HOME25 to get 25% off your insurance policy.
5. TIQ Home Insurance
Truthfully, TIQ’s insurance is a big investment than other policies. However, its coverage of S $1,000,000 for renovation plus home contents, property damage, and 24-hour emergency home assistance justify the higher premiums. In case you face a dire situation, you’d be thankful you paid for a TIQ Home Insurance policy.
- Up to S $1,000,000 Renovation Coverage
- Home Contents Up to S $150,000 Coverage
- Property Damage S $200,000 Coverage
- 24-Hour Emergency Home Assistance
- S $5,000 Emergency Cash Allowance Within 24 Hours
- Up to S $1,000,000 Coverage for Personal Liability Worldwide
6. Allied Home Protector 360
AHP 360 is a rental-property-oriented insurance policy. Insurance holders can choose and pay only for the benefits they need. You can get up to S $90,000 home contents coverage for tenants and building protection up to S $300,000 for landlords.
- Building Protection Up to S $300,000 coverage
- Home Contents Coverage Up To S $90,000
- Personal Accident Medical Reimbursement up to S $300
7. Sompo HomeBliss
Sompo’s high-quality home insurance offers 24-hour home emergency assistance services. You also have a worldwide family personal liability cover along with building, fittings and renovations, and home contents coverage.
- Smoke Damage coverage
- Expenses for Tracing and Assessing of Water Seepage
- 24-Hour Home Emergency Assistance Service with reimbursement
- Reimbursement for Home Cleaning Expenses following an Infectious Disease Outbreak
- Worldwide Family Personal liability extends to cover Property Owner’s Liability and Tenant’s Liability
8. HL Assurance HomeProtect360
Hong Leong’s dependable HomeProtect360 offers you added assistance services, such as locksmith, plumber, and electrician services 24/7. During and after an insured event, you can get alternative accommodations to ensure your and your family’s safety.
- Household Content Damages up to S $200,000
- Property Damage Coverage Including Windows, Mirrors, and More.
- Family Personal Accident
- Debris Removal After Incident
How to Find The Best Insurance Policies For Your Property
- Research All Available Products
Fortunately, Singapore has numerous insurance, investment, and loan comparison websites to help you find the best options available. Don’t go with the first insurance policy that sounds good when you have dozens of products offering the same security and guarantees level.
- Fully Understand Your Prospect Policy’s Terms and Conditions
Many Singaporeans skip reading their policy’s terms and conditions. In doing so, they fail to understand their eligibility and only find out they have a fully paid but useless insurance policy. With a complete understanding of your policy’s terms and conditions, you won’t be blindsided in the future.
- Check If The Policy Answers Your Every Need
While all insurance policies we’ve listed here are beneficial in many ways, it’s useless if it doesn’t answer your every need. Thankfully, representatives can explain the insurance policy’s relevance to your lifestyle, family, and other needs.
- Time it Right With Discounts
Singaporeans who start saving early can take advantage of enormous discounts. With enough cash to jump-start your premiums, you can save so much with proper discount timing.
Use This List When Hunting For The Best Property Insurance!
By identifying your needs and aligning your needs with your prospective insurance benefits, you can find the insurance plan that’s perfect for you.
In case you have difficulties paying your premiums due to an emergency or an uninsured event, you can always use an easy and guaranteed personal loan from Raffles Credit. Contact us today to learn more about everything that we can do for you.