SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
condo / home insurance
-
- Member
- Posts: 24
- Joined: Fri, 24 Jul 2009 1:48 am
condo / home insurance
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.
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.
-
- Newbie
- Posts: 1
- Joined: Fri, 28 May 2010 11:16 am
- sundaymorningstaple
- Moderator
- Posts: 39770
- Joined: Thu, 11 Nov 2004 1:26 pm
- Location: Retired on the Little Red Dot
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.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers
-
- Member
- Posts: 24
- Joined: Fri, 24 Jul 2009 1:48 am
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.
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.
-
- Reporter
- Posts: 621
- Joined: Thu, 28 Aug 2008 12:35 pm
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.
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.
-
- Similar Topics
- Replies
- Views
- Last post
-
- 10 Replies
- 6212 Views
-
Last post by Lisafuller
Wed, 29 Dec 2021 11:24 pm
-
-
Home based learning and work from home moms
by learnlearn » Sat, 25 Apr 2020 2:30 pm » in Working Moms Club - 2 Replies
- 4401 Views
-
Last post by tiktok
Sun, 26 Apr 2020 6:33 pm
-
-
-
International Insurance Regency and QBE Globis
by maneeshs » Mon, 19 Feb 2018 8:58 pm » in Staying, Living in Singapore - 0 Replies
- 2047 Views
-
Last post by maneeshs
Mon, 19 Feb 2018 8:58 pm
-
-
-
Insurance - Moving from Expat to Local WHILE pregnant
by bec010 » Mon, 09 Jul 2018 10:35 am » in Pediatrician, Obstetrician & Gynaecologist - 5 Replies
- 8790 Views
-
Last post by 3carlos
Fri, 17 May 2019 1:53 am
-
-
- 13 Replies
- 8754 Views
-
Last post by sundaymorningstaple
Fri, 31 May 2019 1:10 am
Who is online
Users browsing this forum: No registered users and 0 guests