The tragic Bedok North flat fires that happened recently have led to severe damages to neighboring flats. Unfortunately, this was not the only instance of fires breaking out in Singapore - there had also been several cases that happened all over Singapore, from Woodlands, to Tampines, to Toa Payoh.
This constant recurrence of fires demonstrates just how susceptible each and every one of us are to damages that stem from external factors that we cannot control. Fires, burglaries and accidents are just some of the many unfortunate things that can happen to us. Although we cannot guarantee that we can prevent these dangers from happening, at least with home insurance, we can be certain that the financial burden of reinstating our homes and covering other hefty fees will be lightened. Undoubtedly, our anxieties following such tragic events will be lessened drastically.
We must face reality - our homes may not be as safe as we think they are. It is important that we invest in home insurance to lessen the emotional turmoil that we have to endure in the midst of forking out every last bit of our savings to reinstate our homes. In this article, I have listed down several insurance plans that you may want to consider, especially if you are keen on protecting both yourself, your loved ones, and your homes from unpredictable dangers that may come in the future.
Building, Renovations, Fixtures and Fittings
| Details | Summation Amount |
SOMPO (HomeBliss) | All Risks Covered | $120,000 |
LIBERTY (HomeCare) | Covered for Fire and Extraneous Perils Only | $100,000 |
CHUBB (Simply Home) | All Risks Covered | $100,000 |
Contents (All Risks)
| Maximum that Providers are Willing to Pay | Summation Amount |
SOMPO (HomeBliss) | $2,500 | $40,000 |
LIBERTY (HomeCare) | 25% of the sum insured or $5,000 whichever the lower with a limit per article not exceeding $500 each | $40,000 |
CHUBB (Simply Home) | $1,000 per item for personal effects, $250 per article of fine art, paintings, antiques and curios and other bona fide works of art; $2,500 for any one claim on sporting and fishing equipment, pedal and electronic bicycles, and electronic scooters; 10% of contents due to burglary. Chubb will not pay for the first one hundred dollars for each claim. | $40,000 (+ $4,000 Burglary Sub-Limit) |
Personal and Family Liability (Worldwide)
| Summation Amount |
SOMPO (HomeBliss) | $750,000 |
LIBERTY (HomeCare) | $500,000 (+ $100,000 Food and Beverage Extension) |
CHUBB (Simply Home) | $1,000,000 |
Personal Accident Within Insured Dwelling
SOMPO (HomeBliss)
| Summation Amount |
For Insured and Spouse | $20,000 Each |
For Unlimited Number of Children | $5,000 Each |
Parent(s) and Parents(s)-in-Law | N.A. |
Hospital Allowance for Insured and Spouse | $250 Each |
LIBERTY (HomeCare)
| Summation Amount |
For Insured and Spouse | $10,000 per person (maximum $50,000 per policy) |
For Unlimited Number of Children | $10,000 per person (maximum $50,000 per policy) |
Parent(s) and Parents(s)-in-Law | $10,000 per person (maximum $50,000 per policy) |
Hospital Allowance for Insured and Spouse | $10,000 per person (maximum $50,000 per policy) |
CHUBB (Simply Home)
| Summation Amount |
For Insured and Spouse | $20,000 |
For Unlimited Number of Children | $10,000 |
Parent(s) and Parents(s)-in-Law | N.A. |
Hospital Allowance for Insured and Spouse | N.A. |
Emergency Home Assistance Service
| Summation Amount |
SOMPO (HomeBliss) | Up to $100 reimbursement per event, 4 times per year |
LIBERTY (HomeCare) | Up to $100 per event, maximum 2 events |
CHUBB (Simply Home) | Included with any plan |
Pet Dog Cover
| Summation Amount |
SOMPO (HomeBliss) | $500 |
LIBERTY (HomeCare) | N.A. |
CHUBB (Simply Home) | N.A. |
Annual Premium
SOMPO (HomeBliss)
| Summation Amount |
Standard | $165.85 |
Enhanced | $212.93 |
LIBERTY (HomeCare)
| Summation Amount |
Standard | $128.40 |
Enhanced | N.A. |
Chubb (Simply Home)
| Summation Amount |
Standard | $413.26 |
Enhanced | $555.96 |
Protect yourself and your loved ones today through home insurance! You definitely will not regret it when an emergency arises.
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