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Home and travel insurance

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hamsterchris
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Home and travel insurance

Post by hamsterchris » Sun, 08 Dec 2013 11:29 am

Hi guys,

Just looking for some advice on insurance and where to get a good deal on insurance.

Just sorted out our condo for move in early Jan and searched on the forum but could not see too much on this site regarding home insurance, may have searched incorrectly. Looking for contents only nothing super valuable but may want to add a few higher value items so if anyone has any suggestions of good insurance companies it would be great?

Also looking for sensibly priced travel insurance if anyone has any suggestions? Looked online and it seems to come out very expensive for not a lot of coverage.

Dbs, via 3rd parties, appears to have both that don't look too pricey anyone used them?

Cheers

Chris

Girl_Next_Door
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Post by Girl_Next_Door » Tue, 10 Dec 2013 9:07 am

If you google, there are websites that allows you to compare travel insurance pricing online. Personally, I bought my annual travel insurance from tenet and have made claims against it twice. So far, no horror stories and I like the coverage. I don't think it is the cheapest, but its quite comprehensive (the last I remember when I bought it several years ago).

For home insurance, I would wonder the necessity of having it, unless you store gold bars and antiques at home. Singapore is generally safe, and if you are staying in a condo, it is more secured. If you are concerned about the jewelry, consider a good safe in a secured part of the apartment. If you are concerned about your help stealing things, then camera will be useful. Based on my understanding, it is not easy to claim from home contents insurance as you would need to meet a lot of requirements. If you still think it is important, find out the claim process first.

Beeroclock
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Post by Beeroclock » Tue, 10 Dec 2013 9:21 am

Agree with previous post, do you need contents insurance in Singapore? We opt without here, living in a higher floor condo apartment feels secure enough. The penalties for theft are much tougher than most western countries and act as a deterrent. You could still be unlucky but on average I think better to save the premium and effectively self insure, unless you have very expensive and portable assets or are highly risk averse!

Steve1960
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Post by Steve1960 » Tue, 10 Dec 2013 3:35 pm

I debated the home insurance issue and in the end did it on the basis of fire or flood but I don't think it really has much value.

In addition you (as far as I can see) cannot get accidental cover (as in the UK) which further reduces the value.

I might not renew next year.

Steve1960
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Post by Steve1960 » Tue, 10 Dec 2013 3:36 pm

Oh, forgot. I have just bought a good quality safe just for peace of mind

Girl_Next_Door
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Post by Girl_Next_Door » Tue, 10 Dec 2013 4:37 pm

Remember to drill the safe into the wall, so that any real thief cannot steal your safe.

Steve1960
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Post by Steve1960 » Tue, 10 Dec 2013 5:01 pm

Girl_Next_Door wrote:Remember to drill the safe into the wall, so that any real thief cannot steal your safe.
Yep done, although it was damn heavy and not easily moved anyway. It is not a small one :wink:

hamsterchris
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Post by hamsterchris » Tue, 10 Dec 2013 11:19 pm

Hi guys

Thanks for replies. Had thought about the contents and was more interested in the accidental damage bit to be honest, luckily for 6 years in London only claim I have made, but sounds like a that is not going to be of use. Assume away from home cover does not exist?eg lose your camera/watch etc and not be able to claim for it.

Will check out the travel insurance again and the company suggested, only seemed to find expat ones when I looked and they were very expensive, not bought any for years as been covered by my current account so may just be being tight!

Out of interest how do landlords take you drilling holes for a safe?!

Chris

x9200
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Post by x9200 » Wed, 11 Dec 2013 7:43 am

It definitely makes sense to insure the place you rent (including the content) against accidental damage. Also it is often required by TA. Having said that I still did not find one I think that works. I had an AIA. insurance for a few years and they even did not want to cover damages related to flood (rain water overflowed the flat from the terrace). I switched year ago to the mentioned dbs/msig but had no claims so far so can not tell.

Steve1960
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Post by Steve1960 » Wed, 11 Dec 2013 8:30 am

hamsterchris wrote:
Out of interest how do landlords take you drilling holes for a safe?!

Chris
Not very well usually. In my case I showed the landlord patch of wall where I had filled a hole and painted after moving a picture. It was completely invisible. Then showed her the holes the monkeys she had employed to renovate the place filled. You could see the filler bumps from anywhere you stood in the lounge.

After that I was allowed to drill holes providing I agreed to fill them before leaving the apartment. I told her i would also fix the ones her favourite contractor filled :-)

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