Home contents insurance coverage

[Coolkidsrock2]

I did.

[scang]

Some home mortgage insurance may includes the home contents, so do look into the details of your home mortgage insurance.

[sharonkhoo]

We decided against it. Our home contents are not valuable in the monetary sense, and the things that we consider important are irreplaceable - photos, personal items etc. Paying the insurace for years doesn’t seem worthwhile. But if you have more valuable things that you would want to replace, I guess it makes sense.

[Jennifer]

slmkhoo:

We decided against it. Our home contents are not valuable in the monetary sense, and the things that we consider important are irreplaceable - photos, personal items etc. Paying the insurace for years doesn't seem worthwhile. But if you have more valuable things that you would want to replace, I guess it makes sense.

At present we are not covered, only the basic building n the building FF.

I received 2 letters in the mailbox, the Home contents insce covers renovation and other matters, not only personal possessions.

So makes me think whether we should buy one.

[sharonkhoo]

Jennifer:

slmkhoo:

We decided against it. Our home contents are not valuable in the monetary sense, and the things that we consider important are irreplaceable - photos, personal items etc. Paying the insurace for years doesn't seem worthwhile. But if you have more valuable things that you would want to replace, I guess it makes sense.

At present we are not covered, only the basic building n the building FF.

I received 2 letters in the mailbox, the Home contents insce covers renovation and other matters, not only personal possessions.

So makes me think whether we should buy one.

It really depends on how much the insurance cost is over the years compared with what you are likely to spend if anything happens, and the likelihood of that happening. How my husband and I decided was that it's actually not very likely that catastrophic damage will happen - there is a risk, of course, but HDB flats are sturdy, and Singapore is not prone to disasters. We haven't done fancy renovations and don't have very expensive contents, and most things are pretty old now! Even if everything has to be re-renovated and replaced, given the low likelihood, we decided against insurance. If it's less than catastrophic damage, replacing the affected items will probably be less than paying premiums for many years. I suppose you need to do your sums and see what your risk appetite is.

[hquek]

I bought one home insurance some years back. Basically the basic insurance only covers the structure; for furnishings, you will have to buy separate (probably the home contents). Getting home contents at least will cover the cost of refurbishing the house with basics. Premium should be fairly low because the risk of it happening is very low. If you have very valuable stuff eg jewellery, expensive watches, best to make sure it’s included in your insurance writeup (wif pictures) - else they may dispute in event of loss.


If you were to cover for burglary, be careful with the wordings. My then agent told me her customer’s maid stole her things and insurance refused to pay because the maid used the home key (some story there I forgot) and thus there was no sign of break-in. If you leave keys in the door, too bad/too sad, insurance will say negligence and therefore cannot claim. Not sure if all companies are like that - so check and know what you are paying for.

[Jennifer]

Thank you for the inputs.

[sparks]

I do. Usually it is a packaged policy that includes public liability cover. This is a valuable cover that protects you & family against claims from others, eg. if bamboo pole drop & injured someone below (in st news today ).

[Jennifer]

sparks:

I do. Usually it is a packaged policy that includes public liability cover. This is a valuable cover that protects you & family against claims from others, eg. if bamboo pole drop & injured someone below (in st news today ).

Yes, the mailer I received has public liability too. Need to check out who is covered- all members of the families?