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3-MIN READ | Published Jul 2019
Home insurance 101: what to know, and why buy
Ang Bee Lin
Your home is the biggest financial investment you will make in this lifetime, especially if you choose to be a private property owner.
That is why beyond finding the perfect sanctuary, you need to protect it — and all within it — as best you can. After all, no matter how much safety you practice, you can't be sure your next-door neighbour will not leave their stove on, or overload a power bar to fuel his massive home entertainment system.
“A good home insurance plan should cater to your needs and address your concerns and be easily understood. Information such as coverage amount and exclusions should also be clearly spelt out.
"Besides looking out for the right plan, it is also important to choose a reliable insurer whom you can trust, and who can provide efficient and quick claims experience, especially in times of distress,” says Ms Jazzreal Wong, head of direct business, Etiqa Insurance Singapore.
When selecting a specific coverage, you must also consider the funds you have in case of an unexpected event, the value of your property, its current condition, and the valuable and personal possessions that also require protection.
According to spokespeople at insurance companies FWD and Etiqa, here are five key questions to consider when deciding what you need.
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In the event of an unexpected or unfortunate accident, such as a fire that could result in a total loss, do I have enough funds to rebuild, repair, renovate my home, or replace my home contents and personal belongings?
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What are the value or current market price and condition of my home/property, home contents, and personal belongings? How much coverage do I need for them, respectively?
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Do I own any pricey or precious possessions that I would like to protect, particularly items such as a fine art collection? How much are they worth; which insurance plan covers them, and how much coverage do I need?
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Is there an excess clause? If yes, what is the initial amount you must bear for every loss?
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Are there any additional benefits available, such as home assistance or personal accident benefits?
房屋保险101:
房子是我们最佳的避风港，购屋后不能忽略的环节就是做好房屋保障。毕竟生活处处
充满意外，防范于未然才是上策。在购买房屋保险前不妨多了解细节，选择适合的方案。
新加坡Etiqa保险公司的市场营销主任陈艳丽表示，除了寻找合适的计划，选择一家
可靠的保险公司也很重要。它能在你需要度过难关时，提供快速、高效率且专业的理赔服
务。
根据富卫保险公司（FWD）和 Etiqa保险公司发言人的建议，在决定购买房屋保险前
有五大须知：
1.当意外发生时，你是否有足够的资金重建、修复?
2.你的房产、居家物件、个人物品的目前市价？是否有需要个别承保的物件？
3.你是否拥有需要额外投保的珍贵资产？
4.是否有保超额赔偿？如果有，每笔损失基本赔偿额是多少？
5.是否提供额外保障？如家居援助或个人意外保险？
