An HDB owner's guide to insurance

Some 80% of Singapore's resident population reside in HDB flats.

Learn about the different types of insurance you need for your biggest investment: your home.


So you've collected the keys for your new HDB flat? Congratulations!

After settling the administrative work for the daunting housing loan, next on your to-do list should be getting insurance for your expensive investment. It'll not only protect the roof over your family's head but also safeguard your family's savings from the financial impact of unexpected events in life.

We understand how difficult it is to differentiate the different types of insurance that you need for your home so we came up with a simple chart of the various plans you should have.

  Building Insurance Home Contents Insurance Mortgage Insurance
What does it cover? Your flat's internal building structure, as well as fixtures and fittings provided by HDB such as electrical wiring and water pipes. Personal items in the house such as electronics, appliances, and paintings, as well as renovated items such as kitchen cabinets and fixtures. Pays out the outstanding housing loan so your family will not have to lose their home.
When does the coverage kicks in? In the event of fire, bursting and overflowing of water pipes, standard explosion, sprinkler leakage, malicious damage, etc. In the event of fire, flood, theft, bursting/ overflowing of water pipes or household apparatus, lightning, explosion, etc. In the event of death, terminal illness, total and permanent disability, or upon diagnosis of critical illness of the policyholder(s).
Where can I get this? HDB's Fire Insurance scheme. Private insurers such as Singlife. You can either get the Home Protection Scheme (HPS) from any HDB branch, or from private insurers such as Singlife.
How much would it cost? Annual premium ranges from S$1.62 for a 1-room flat to S$8.10 for an Executive/Multi-Generation flat. Depends on the level of coverage you want. Annual premiums for Singlife's Home Insurance plans range from S$53 to S$160.50. Dependent on your loan amount.  
What do you need to take note of? Coverage is sold in 5-year blocks, so you only renew it every 5 years. There are claim limits so if you have an expensive million dollar painting in your house, you may not be able to claim its full value should it be damaged or stolen. Home Protection Scheme (HPS) will be offered to all who pay their monthly housing instalments via CPF savings but it's not compulsory and you can apply for exemption if you already have private life insurance in place.


Singlife Home Insurance

Do you have the right coverage for your home?

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