condo / home insurance

[londontosingapore]

New to Singapore...got a place...and doing a renovation. So how's the reno going you ask? Let's not go there.... let it be said that I will hugely appreciate my Polish builders a heck of a lot more when (if?) I go back to London.

I need some tips or recommendations for Home/Flat/Condo insurance - I don't know what they call it here but basically would like to buy protection for:

(1) my home contents (especially kitchen appliances and TVs since they're pricey items) in case of fire, theft, flooding, damage etc

(2) to cover me in case there is a water leak and damage to the neighbours below me

In UK this is quite common but the only insurance I can find in Singapore is just for (1) and not for (2)? Or perhaps it's not clearly stated in the benefits factsheet.

If someone has experience of this, or even better can recommend a good insurance firm/broker/policy then I would hugely appreciate it.

Cheers,
M.

[victor.lohle]

No clue. However, if you do come up with a solution please please do let me know, as I will be in the same situation in about 2 months. Many thanks.

[sundaymorningstaple]

AXA and AIG usually have a pretty good home contents insurance. I'm not to sure about the water damage but most can provide something like that for a price. But you would have to request/ask about it.

[londontosingapore]

Thank you all - I found that most of the big MNC insurers have home insurance which is structured slightly different to the UK... they all include Personal Liability (typically S$250,000+) which I believe would cover any property damage to my neighbour (or indeed anyone).

Take a look at:

- AIA http://www.aia.com.sg/en/needs/for-indi ... /Home/home
- Aviva http://www.aviva-singapore.com.sg/
- AXA http://www.axa.com.sg/axa_ins_sg/index. ... odid2=home

The premiums all seem reasonable.

[Girl_Next_Door]

What you are looking for are
1) Fire Insurance: This is very cheap because it cover the basic structure of the building only. It is mandatory to buy if you stay in a HDB flat. If you stay in a condo/house, I don't think its mandatory to buy. However, if you have a mortgage loan, all (if not most) banks will require you to purchase this.

2) Home contents: Basically, it covers your home furnishing, contents, and some will cover personal liability, i.e. the property damages you or your neighbour create.

These are known as General Insurance.

AIA, Aviva and Axa are mainly Life Insurance companies. Their premium rates won't be too competitive because general insurance is not their core business.

Assuming you take up a loan from a bank, you can ask them for insurance referrals as well. They usually have a cross referral scheme but depending on the banks, some of their referrals are not necessary good & cheap insurers.

Personally, I would suggest for you to contact a general insurance broker (google and you can find a lot) and get them to source the best quotes for you. Its like buying car insurance, find a general insurance brokers to get you the cheapest car insurance in Singapore.

General insurance brokers (in Sg) can represent a few general insurance companies, hence you don't have to do so much leg work. Of course, the broker get a commission for what they are doing.

[chloe BNI]

One more piece of advertising spam from you and your account will be locked and your posts deleted. Got it?

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[nakatago]

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[Saint]

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