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Compare the Best Home Insurance Policies in Singapore 2024

Get the best HDB and private home insurance policies for your needs using MoneySmarts easy to use a comparison calculator Read More
Looking for 1 Year Policy Max Content Coverage: S$300,000
We found 42 Home Insurances for you!
AIG Enhanced Public Housing Contents Insurance (For HDB only)

Annual Premium

S$75.76

Annual Premium
MoneySmart Exclusive
Promotion ends in
Building Coverage
Up to S$100,000
Household Contents
Up to S$150,000
Personal Liability within Singapore
Up to S$400,000
Annual Premium
S$75.76

[GIVEAWAY | FLASH DEAL | Receive your cash as fast as 30 days*] 
• For a limited time only, get up to S$180 via PayNow when you purchase an eligible AIG Home Insurance plan. T&Cs apply.
 
PLUS, stand a chance to score a Nintendo Switch OLED Console (worth S$549) in our giveaway. T&Cs apply.

Valid until 17 Jul 2024 - See more details below
Apply Now
MSIG Enhanced HomePlus - Standard

Annual Premium

S$96.79

20% OffAnnual PremiumS$120.99
MoneySmart Exclusive
Promotion ends in
Building Coverage
Optional Add-on
Content Coverage
S$125,000
Worldwide Personal Liability
S$1,000,000
Annual Premium
Annual PremiumS$120.9920% Off
S$96.79

[Receive cash as fast as 30 days*]
  
• Enjoy 20% off your policy premium.
• Get up to S$50 via PayNow with eligible MSIG Enhanced HomePlus plan purchased.  T&Cs apply.

Valid until 17 Jul 2024 - See more details below
Apply Now
Hong Leong Home Protect360 Silver

Annual Premium

S$204

15% OffAnnual PremiumS$240
Online Promo
All Risk Cover
Building Coverage
NA
Household Contents
S$100,000
Worldwide Personal Liability
S$500,000
Annual Premium
Annual PremiumS$24015% Off
S$204
Online Promo:
Enjoy 15% off any Home Protect360 policy premium.

PLUS, enjoy FREE Home Concierge Services for - Electrician, Locksmith, Plumber, Pest Control and Air-con Repair. T&Cs apply.
Valid until 31 Dec 2024 - See more details below
Apply Now
Great Eastern GREAT Home Protect Superior

Annual Premium

S$130.80

20% OffAnnual PremiumS$163.51
Online Promo
Building and Renovation Coverage
Up to S$50,000
Household Contents
Up to S$25,000
Worldwide Personal Liability
S$500,000
Annual Premium
Annual PremiumS$163.5120% Off
S$130.80
Online Promo:
Enjoy 20% off your policy premium for any GREAT Home Protect plans.

PLUS, get an additional 5% green discount on your premiums* as part of Great Eastern's Sustainability efforts. T&Cs apply.
*Subject to green discount eligibility.
Valid until 30 Sep 2024 - See more details below
Apply Now
FWD Home Insurance - HDB 3 Room

Annual Premium

S$42.81

30% OffAnnual PremiumS$61.16
MoneySmart Exclusive
Building Coverage
S$60,400
Content Coverage
S$20,000
Worldwide Personal Liability
S$500,000
Annual Premium
Annual PremiumS$61.1630% Off
S$42.81

[Receive cash as fast as 30 days*]
  
• Enjoy 30% off your policy premium.
• Get S$10 via PayNow with any FWD Home Insurance plan purchased. T&Cs apply.
  
PLUS, get an additional S$30 eCapitaVoucher from FWD with any 3-year plans purchased. T&Cs apply.

Valid until 31 Jul 2024 - See more details below
Apply Now
Singlife Home Standard

Annual Premium

S$92.16

23% OffAnnual PremiumS$119.69
MoneySmart Exclusive
Building Coverage
NA
Content Coverage
S$50,000
Worldwide Personal Liability
S$250,000
Annual Premium
Annual PremiumS$119.6923% Off
S$92.16

[Receive cash as fast as 30 days*]
  
 Enjoy 23% off your policy premium
 Get S$10 via PayNow with any Singlife Home Insurance plan purchased. T&Cs apply.

Valid until 31 Jul 2024 - See more details below
Apply Now
AIG Homes Advantage - Classic

Annual Premium

S$203.56

Annual Premium
MoneySmart Exclusive
Free 24/7 Home Assistance for Everyday Emergencies
Building
S$85,000
Household Contents
S$20,000
Worldwide Personal Liability
S$1,000,000
Annual Premium
S$203.56

[GIVEAWAY | FLASH DEAL | Receive your cash as fast as 30 days*] 
• For a limited time only, get up to S$180 via PayNow when you purchase an eligible AIG Home Insurance plan. T&Cs apply.
 
PLUS, stand a chance to score a Nintendo Switch OLED Console (worth S$549) in our giveaway. T&Cs apply.

Valid until 17 Jul 2024 - See more details below
Apply Now
Allianz Home Protect - Silver

Annual Premium

S$98.10

Annual Premium
Building Coverage
N/A
Content Coverage
S$40,000
Personal Liability
S$500,000
Annual Premium
S$98.10
Apply Now
Tiq Home Insurance - HDB 3 Room

Annual Premium

S$64.97

20% OffAnnual PremiumS$81.22
Online Promo
Home Insurance
Building Coverage
S$41,800
Household Contents
S$35,000
Worldwide Personal Liability
S$500,000
Annual Premium
Annual PremiumS$81.2220% Off
S$64.97
Online Promo:
Enjoy 20% off your Tiq Home Insurance plans. T&Cs apply.

PLUS enjoy 24-hour Emergency Home Assistance Services when you purchase Tiq Home Insurance plans with a Period of Insurance of 3 to 5 years!

[Etiqa's 10th Year 2024 Grand Draw]
Stand a chance to win S$10,000 cash or a Singapore Mint Lunar Dragon 1 gram 999.9 fine gold medallion (worth S$173) with eligible Etiqa/Tiq by Etiqa plans purchased. T&Cs apply. Valid till 15 Aug 2024.
Valid until 31 Jul 2024 - See more details below
Apply Now
Sompo HomeBliss Insurance - Serene Enhanced (All Risks)

Annual Premium

S$216.91

Annual Premium
Building Coverage
S$120,000
Content Coverage
S$40,000
Worldwide Personal Liability
S$750,000
Annual Premium
S$216.91
Apply Now
FWD Home Insurance - Condominium 3 Bedroom

Annual Premium

S$91.13

30% OffAnnual PremiumS$130.19
MoneySmart Exclusive
Building Coverage
NA
Content Coverage
S$60,000
Worldwide Personal Liability
S$500,000
Annual Premium
Annual PremiumS$130.1930% Off
S$91.13

[Receive cash as fast as 30 days*]
  
• Enjoy 30% off your policy premium.
• Get S$10 via PayNow with any FWD Home Insurance plan purchased. T&Cs apply.
  
PLUS, get an additional S$30 eCapitaVoucher from FWD with any 3-year plans purchased. T&Cs apply.

Valid until 31 Jul 2024 - See more details below
Apply Now
Singlife Home Lite

Annual Premium

S$54.42

23% OffAnnual PremiumS$70.68
MoneySmart Exclusive
Building Coverage
NA
Content Coverage
S$35,000
Worldwide Personal Liability
S$250,000
Annual Premium
Annual PremiumS$70.6823% Off
S$54.42

[Receive cash as fast as 30 days*]
  
 Enjoy 23% off your policy premium
 Get S$10 via PayNow with any Singlife Home Insurance plan purchased. T&Cs apply.

Valid until 31 Jul 2024 - See more details below
Apply Now
AIG Enhanced Public Housing Contents Insurance - 3 Room HDB

Annual Premium

S$75.76

Annual Premium
MoneySmart Exclusive
Free 24/7 Home Assistance for Everyday Emergencies
Building Coverage
S$42,000
Household Contents
S$150,000
Personal Liability within Singapore
S$400,000
Annual Premium
S$75.76

[GIVEAWAY | FLASH DEAL | Receive your cash as fast as 30 days*] 
• For a limited time only, get up to S$180 via PayNow when you purchase an eligible AIG Home Insurance plan. T&Cs apply.
 
PLUS, stand a chance to score a Nintendo Switch OLED Console (worth S$549) in our giveaway. T&Cs apply.

Valid until 17 Jul 2024 - See more details below
Apply Now
MSIG Enhanced HomePlus - Superior

Annual Premium

S$143.88

20% OffAnnual PremiumS$179.85
MoneySmart Exclusive
Building Coverage
Optional Add-on
Content Coverage
S$195,000
Worldwide Personal Liability
S$1,000,000
Annual Premium
Annual PremiumS$179.8520% Off
S$143.88

[Receive cash as fast as 30 days*]
  
• Enjoy 20% off your policy premium.
• Get up to S$50 via PayNow with eligible MSIG Enhanced HomePlus plan purchased.  T&Cs apply.

Valid until 17 Jul 2024 - See more details below
Apply Now
MSIG Enhanced HomePlus - Ultimate

Annual Premium

S$190.09

20% OffAnnual PremiumS$237.62
MoneySmart Exclusive
Building Coverage
Optional Add-on
Content Coverage
S$270,000
Worldwide Personal Liability
S$1,000,000
Annual Premium
Annual PremiumS$237.6220% Off
S$190.09

[Receive cash as fast as 30 days*]
  
• Enjoy 20% off your policy premium.
• Get up to S$50 via PayNow with eligible MSIG Enhanced HomePlus plan purchased.  T&Cs apply.

Valid until 17 Jul 2024 - See more details below
Apply Now
FWD Home Insurance - HDB 4 Room

Annual Premium

S$42.99

30% OffAnnual PremiumS$61.42
MoneySmart Exclusive
Building Coverage
S$82,000
Content Coverage
S$20,000
Worldwide Personal Liability
S$500,000
Annual Premium
Annual PremiumS$61.4230% Off
S$42.99

[Receive cash as fast as 30 days*]
  
• Enjoy 30% off your policy premium.
• Get S$10 via PayNow with any FWD Home Insurance plan purchased. T&Cs apply.
  
PLUS, get an additional S$30 eCapitaVoucher from FWD with any 3-year plans purchased. T&Cs apply.

Valid until 31 Jul 2024 - See more details below
Apply Now
Sompo HomeBliss Insurance - Cosy Standard (Insured Perils)

Annual Premium

S$107.91

Annual Premium
Building Coverage
S$80,000
Content Coverage
S$20,000
Worldwide Personal Liability
S$750,000
Annual Premium
S$107.91
Apply Now
Allianz Home Protect - Gold

Annual Premium

S$153.69

Annual Premium
Building Coverage
N/A
Content Coverage
S$50,000
Personal Liability
S$750,000
Annual Premium
S$153.69
Apply Now
Tiq Home Insurance - HDB 4 Room

Annual Premium

S$74.82

20% OffAnnual PremiumS$93.53
Online Promo
Home Insurance
Building Coverage
S$69,100
Household Contents
S$45,000
Worldwide Personal Liability
S$500,000
Annual Premium
Annual PremiumS$93.5320% Off
S$74.82
Online Promo:
Enjoy 20% off your Tiq Home Insurance plans. T&Cs apply.

PLUS enjoy 24-hour Emergency Home Assistance Services when you purchase Tiq Home Insurance plans with a Period of Insurance of 3 to 5 years!

[Etiqa's 10th Year 2024 Grand Draw]
Stand a chance to win S$10,000 cash or a Singapore Mint Lunar Dragon 1 gram 999.9 fine gold medallion (worth S$173) with eligible Etiqa/Tiq by Etiqa plans purchased. T&Cs apply. Valid till 15 Aug 2024.
Valid until 31 Jul 2024 - See more details below
Apply Now
AIG Enhanced Public Housing Contents Insurance - 4 Room HDB

Annual Premium

S$75.76

Annual Premium
MoneySmart Exclusive
Free 24/7 Home Assistance for Everyday Emergencies
Building Coverage
S$69,500
Household Contents
S$150,000
Personal Liability within Singapore
S$400,000
Annual Premium
S$75.76

[GIVEAWAY | FLASH DEAL | Receive your cash as fast as 30 days*] 
• For a limited time only, get up to S$180 via PayNow when you purchase an eligible AIG Home Insurance plan. T&Cs apply.
 
PLUS, stand a chance to score a Nintendo Switch OLED Console (worth S$549) in our giveaway. T&Cs apply.

Valid until 17 Jul 2024 - See more details below
Apply Now

Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

Home Insurance in Singapore: What Coverages Should I Look Out For?

Not to be confused with HDB Fire Insurance, there are actually a lot of coverage and benefits you can look out for to make the most out of your premiums.

Insured Peril vs All-Risk

A named peril insurance policy covers only what is specifically noted in the policy (e.g. fire), whereas an all-risk policy covers everything except what is specifically excluded in the policy (e.g. war is typically an excluded risk). An all-risk policy has a much wider coverage but is usually more costly than an insured peril policy.

Building, Fixtures and Fittings (and Renovation)

This is what most people know as Fire Insurance, and it is usually compulsory if you take a home loan to purchase a property in Singapore. This is coverage for rebuilding the building structure as well as any fixture and fittings which comprise part of the building. A point to note - the current HDB mandatory Fire Insurance is provided by Etiqa insurance and it doesn't cover renovations.

Home Content

A typical compulsory Fire Insurance doesn't cover the contents of your home. As the name suggests, content coverage insures against loss or damage to household items belonging to you, your family or your domestic helpers which you are responsible for. However, it has some exclusions like securities, certificates and pets!

Personal Liability

Apart from covering the building structure and contents, home insurance also provides coverage for situations in which you might be legally held responsible for. For instance, if a visitor trips over a carpet while walking in your home, you might be held responsible for the accident as an owner.

Personal liability coverage is especially important for renters, as you might be responsible as a tenant if, for example, you break a vase that belongs to your landlord. That's why buying home insurance for renters not only protects your personal belongings but also shields you from potential legal liabilities.

Alternative Accommodation

If your home is uninhabitable due to a major incident, this coverage helps you ease the financial burden of a temporary accommodation. This coverage typically has a daily benefit limit and covers you up to a certain number of days.

Personal effects, loss of money and valuables

Low crime doesn't mean no crime. Even though house break-ins are on the decline, one can never be too sure. This coverage insures physical money, valuables and personal belongings against theft and forceful entry. Bear in mind there is always a benefit limit to each category (e.g. loss of money capped at $500)

Home Insurance vs Home Contents Insurance: What's The Difference?

Confused between these two? We've summarised the 5 main key differences between home insurance and home contents.

Home Insurance

  • Covers the physical structure of the house (walls, roofs, etc.)
  • Structural damage from fire, natural disasters, vandalism
  • Includes built-in fixtures and sometimes appliances
  • Essential for homeowners
  • Secures the physical building and its integral components

Home Contents Insurance

  • Covers personal belongings inside the home (furniture, electronics, etc.)
  • Theft, loss, or damage of personal items
  • Includes movable items like clothing, jewelry, electronics
  • Not typically required by mortgage lenders, but highly recommended for renters and homeowners alike
  • Safeguards personal and valuable items within the home

Making a Home Insurance Claim

The process for specific types of claims may differ between insurers. However, policies offered by popular insurers such as AXA or MSIG generally have similar Home Insurance Claims procedures. Here are some things that you should take note of when making an insurance claim.

Fact #1

Do not wait too long

Most insurers will require you to make the claim within 30 days of the occurrence. Given that it will take some time to process your claim, you would want to submit your claims form as soon as possible.

Fact #2

Keep originals of everything

1) Police report / investigation results and incident report for Theft 2) Assessment report from repairer on the cause and extent of the damaged property for building claims 3) Invoices / purchase receipts of lost or damaged property 4) Photographs of damage for content claims 5) Letters, writ of summons from third party for liability claims

Fact #3

Don't pester the loss adjuster

Insurers usually hire loss adjusters to assess the damages; so it is important that you cooperate and assist them.

Singapore Home Insurance Tips

Here are some Home Insurance tips that can help you select a great policy and give you peace of mind when purchasing your dream home in Singapore!

Tip #1

Buy the coverage you need! Apart from the standard packages, there are customized ones as well. Most of us would already have the compulsory fire insurance which provides coverage for the building, thus it might make sense to look out for a customized home insurance plan which allows you to skew your coverage (and premiums!) towards insuring your home content and renovations.

Tip #2

Did you know that some insurers allow for a discount when you sign up for a longer duration plan? Etiqa provides a discount when you sign up for a 5-year period.

Tip #3

Don't underinsure when it comes to home insurance! Unlike life insurance, home insurance protects assets that have a paper value, and insurance companies expect your coverage to match the value of your properties. If your policy's coverage is significantly lower than what is actually covered, insurance companies can penalize you in form of reduced reimbursement when you file a claim.

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More From TheMoneySmart Blog

Check out our blog for more personal finance tips and insights.

Frequently Asked Questions

What is the difference between HDB Fire, Mortgage and Home Insurance?

1) HDB Fire Insurance is a compulsory home insurance policy which only insures the internal building structure, fixtures and fittings. 2) Mortgage insurance is a policy which insures the mortgage (home loan) in event of death of the breadwinner - It provides the surviving spouse with peace of mind, knowing the mortgage will be fully paid up. 3) Home Insurance provides coverage for the building, fixtures, fittings as well as renovations and your household content. Hence, its a good idea to pair the compulsory HDB Fire Insurance with a HDB home insurance plan so that there's comprehensive coverage for your home

How much building and content coverage would I need?

To prevent under insurance, we would have to know how to access how much coverage is necessary. For building, the coverage needed should be the total cost to rebuild or reinstate the property plus the professional fees and removal of debris. As for household contents, the replacement value or worth at the time of the inception of the policy may be taken as the coverage needed.

Can I purchase home insurance if I am going to rent out my home?

Yes, but it’s worth noting that certain risks such as malicious or deliberate damage by tenants are not covered under the policy. Alternatively, some insurers have landlord home insurance policies catered for this need.

Will I ever need to change my home insurance coverage?

You should review your coverage at least once a year or whenever there’s a significant change in your home or its contents. For example, if you’ve just built your dream walk-in wardrobe or if you’ve just kitted out your living room with a home theatre system, you should probably consider reviewing your current policy to ensure your existing tier of coverage is enough to cover the cost of replacing some of your new big-ticket items.

How do I compare home insurance policies?

With so many home insurance plans out there in the market, choosing the right plan can be a challenge. We recommend that you first determine the kinds of coverage that are relevant to you. Then, estimate the adequate amount of coverage you need, while making sure you are not under-insuring your property. We reiterate this point because under-insurance can cost you a lot. For example, if you purchase a S$20,000 coverage on a S$40,000 home, your insurance company will determine that your property is under-insured by 50%. In this case, you will get paid only S$2,000 even if you file for a claim for a loss of S$4,000, because you will be responsible for the remaining portion (50%) of the claim. Finally, we recommend that you single out policies that delivers high value, suits your situation, and offers high sub-limits on items that are important to you. Compare Home Insurance Plans on MoneySmart to find the one with the best price and coverage level for you!

What is a home insurance deductible?

A home insurance deductible is the amount you pay out-of-pocket for a claim before your insurance policy takes effect. It impacts your premium amount and potential claim payout. Higher deductibles lower premiums but increase out-of-pocket costs, while lower deductibles raise premiums but decrease out-of-pocket expenses.