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Best Home Insurance For Rental Tenants In Singapore: What To Know

With more rental tenants moving to new homes amid the completion of more new condos and HDB flats, we can foresee the increase in supply of flats for rent, according to analysts in the real estate industry of Singapore.

If you’re a tenant who has plans to rent now or to continue renting in the coming months, you’re in luck as you’ll have wider options to pressure landlords for lower rents. However, you’ll still have to keep in mind a couple of essentials to have as a rental tenant, such as home insurance coverage to protect your belongings and personal liability.

Here’s a quick guide on the basics of home insurance for rental tenants, the benefits of having coverage and the best home insurance options available in the market.

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Is Home Insurance Compulsory For Rental Tenants In Singapore?

In Singapore, rental tenants are not legally obligated to have home insurance, but it is strongly encouraged. While the landlord usually has insurance for the building structure, it does not extend to cover the tenant's personal belongings within the unit. 

Consequently, tenants are urged to acquire home insurance to safeguard their personal possessions against potential risks like theft, fire, or water damage. Additionally, this coverage can encompass liability protection in case a tenant inadvertently causes damage to the property.

Key Benefits Of Home Insurance For Rental Tenants In Singapore

While some renters may choose to forgo home insurance, it is advisable to consider obtaining it, particularly for valuable personal belongings. This is especially important if these items have a high monetary value. Renters may explore less extensive plans like Singlife Home Lite or IKEA Home contents insurance, as they offer more basic coverage. Although these streamlined plans often exclude building coverage, they typically include personal liability protection.

Protection of personal belongings

Home insurance can cover the cost of replacing personal possessions in the event of theft, fire, or water damage, ensuring tenants are not financially burdened when these unexpected incidents occur.

Personal liability coverage

If a tenant accidentally causes damage to the landlord's property or vice versa, potentially incurring significant repair or replacement expenses, personal liability coverage proves beneficial in covering these unforeseen costs, protecting tenants from sudden large expenses.

Loss of use coverage

If the rental unit becomes uninhabitable due to a covered event, home insurance can provide compensation for alternative living arrangements while repairs are underway.

Medical expenses coverage

Some policies include coverage for medical expenses if someone is injured within the rental property, providing added protection and peace of mind for tenants.


Compared to the potential cost of replacing personal belongings or paying for property damage, the premiums for rental tenants’ home insurance are generally affordable and provide tenants with invaluable peace of mind.

Financial planning

Having a home insurance policy can also be a part of a rental tenant's wider financial planning strategy, offering an extra layer of protection against unforeseen financial disruption. A good example would be AIG’s Bill Relief Protector that covers utility bills in unforeseen events including retrenchment, which is part of their AIG Homes Complete plan

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Best Home Insurance For Renters

Best forHome insurance planEstimated annual premium rate (as of 5 Dec 2023)
Fuss-free coverageSinglife Home Lite and Standard plansFrom $71
Good valueIKEA Home contents insurance planFrom $59
Rewards or cashback promotionMSIG Enhanced HomePlus plansFrom $120
Worldwide personal liability coverageAIG Homes Complete plansFrom $158
Flexible premium paymentsHong Leong Home Protect360 plansFrom $254

Frequently Asked Questions

Why should I get home insurance as a rental tenant?

Although rental tenants are not legally obligated to have home insurance in Singapore, home insurance provides certain levels of protection against loss/damage or theft of personal belongings, personal liability coverage, temporary housing benefit when the rental unit becomes uninhabitable due to a covered event, which are financially beneficial.

What is personal liability coverage in a home insurance plan?

Personal liability coverage in a home insurance plan for a rental tenant in Singapore provides financial protection in the event that the tenant is found legally responsible for causing injury to someone else or for damaging someone else's property. This coverage extends beyond the physical dwelling itself and focuses on the tenant's personal legal responsibilities.

If I’m renting a HDB flat/condo or just a room in a HDB flat/condo, do I still need to get home insurance?

Yes and no, it really depends on your preference. Although it is not compulsory for renters to get home insurance, it is still advisable to get it as there are definitely personal belongings owned by you which you would want to insure, especially if they cost a lot.