For a small, albeit economically powerful country, one of the most sought-after possessions is, of course, real estate. Singaporeans naturally spend huge sums of money for the properties, buying a new one or renovating an old. However, in some cases, they are quite incapable of protecting their real estate investment in case of accidents or mishaps.
This oversight can easily be prevented by proper home insurance. Certainly, not just the Housing and Development Board’s (HDB) Fire Insurance policy. This mandatory insurance only covers damages to the internal building structure, the bits and pieces that were provided by the HDB and the developer. Everything else, including your appliances, furniture, and gadgets, is fair game.
If you’re willing to spend a fortune on your new home, then you should also be prepared to shell out funds for its protection. Typical events covered by private insurance firms include the ff.: lightning, fire … Read more