By MoneyBees
See HDB's fire insurance premium and sum insured for your flat type, whether you must buy it, and the cost over the rest of your HDB loan, with what it covers next to home insurance.
For policies starting 16 Aug 2024 to 15 Aug 2029, the 5-year premium including 9% GST ranges from S$1.11 for a 1-room flat to S$6.68 for an Executive or Multi-Generation flat. A 4-room flat pays S$4.59.
Yes if your HDB loan started on or after 1 Sep 1994. You must buy it and renew it every 5 years for as long as the HDB loan is outstanding.
HDB's appointed insurer for policies starting 16 Aug 2024 to 15 Aug 2029 is Etiqa Insurance Pte. Ltd. Before that, from 16 Aug 2019 to 15 Aug 2024, it was FWD.
The cost of reinstating damaged internal structures, fixtures and areas built and provided by HDB. A 4-room policy insures up to S$117,000.
No. HDB says it does not cover home contents such as furniture, renovations and personal belongings. HDB encourages owners to buy separate home insurance for those.
At any AXS kiosk or on the AXS mobile app, or at Etiqa's customer service centre by appointment. You can check that your policy is valid on HDB's Check Flat Details e-Service.
HDB makes it mandatory for owners with an HDB housing loan. If you have a bank loan, check your loan documents for the bank's fire insurance requirement.
Fire insurance covers the flat's structure and HDB's fittings. Home insurance is optional and, depending on the policy, can cover belongings, renovation, temporary accommodation and damage to neighbours' property.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).