Fire Insurance vs. Home Insurance For BTO and Resale HDB: Differences, Which To Choose
When purchasing a new home, whether it's a BTO or resale HDB, it's important to consider the type of insurance you need to protect your property. Many of us may be confused about the difference between fire insurance and home insurance as new homeowners, and which one is necessary for their specific situation.
In this quick guide, we will break down the differences between these two types of insurance and help you determine which one is best for your BTO or resale HDB.
Key Differences In Fire Insurance vs. Home Insurance For HDB
| Fire Insurance | Home Insurance | |
|---|---|---|
| Building coverage | Fire Insurance Usually, it covers damage to the building structure only | Home InsuranceMay cover both the building and the contents within, such as furniture and personal belongings |
| Perils covered | Fire Insurance Typically covers specific perils as defined in the policy | Home InsuranceOffers a wider range of perils, including burglary, water damage, and personal accident coverage |
| Contents coverage | Fire Insurance Typically excludes coverage for personal belongings or home contents | Home InsuranceCan include coverage for personal belongings, subject to the policy terms and limits |
| Premium | Fire Insurance Generally has a lower premium cost, as it provides more limited coverage | Home InsuranceMay have a higher premium due to the broader protection it offers |
| Personal liability | Fire Insurance Does not usually include personal liability coverage | Home InsuranceCan provide personal liability coverage, protecting against third-party claims |
Is Fire And Home Insurance Compulsory For BTO?
Fire insurance is compulsory for all HDB flat owners with a HDB loan. This means that you must have fire insurance in place before you can take out a HDB loan to purchase a BTO flat. On the other hand, home insurance is not compulsory by law in Singapore, although some banks may require you to purchase home insurance if you are getting a home loan from them.
In Singapore, the HDB fire insurance policy covers the cost of repairing or rebuilding your HDB flat, as well as the cost of replacing your fixtures and fittings in the event of a fire, while home insurance offers broader coverage, including fire, theft, accidental damage, personal liability, and more.
Best BTO & Resale HDB Home Insurance Plans In Singapore
| Best for | Home insurance plan | Estimated annual premium rate (as of 22 August 2025) |
|---|---|---|
| Best for Fire Insurance | Home insurance plan FWD Home Insurance - HDB 3 Room, 4 Room and 5 Room plans | Estimated annual premium rate (as of 22 August 2025)From $39.75 |
| Best for Fuss-free coverage | Home insurance plan Singlife Home Lite and Standard plans | Estimated annual premium rate (as of 22 August 2025)From $64.96 |
| Best for Emergency home assistance services and cash allowance | Home insurance plan Tiq Home Insurance plans | Estimated annual premium rate (as of 22 August 2025)From $61.22 |
| Best for Zero excess (for claims due to burst pipes or fire) | Home insurance plan FWD Home Insurance - HDB 3 Room, 4 Room and 5 Room plans | Estimated annual premium rate (as of 22 August 2025)From $39.75 |
| Best for Utility bills protector coverage | Home insurance plan AIG Homes Complete plans | Estimated annual premium rate (as of 22 August 2025)From $75.76 |
| Best for Personal liability coverage | Home insurance plan MSIG Enhanced HomePlus plans | Estimated annual premium rate (as of 22 August 2025)From $58.42 |
| Best for Reimbursement of home cleaning expenses due to infectious disease outbreak | Home insurance plan Singlife Home Lite and Standard plans | Estimated annual premium rate (as of 22 August 2025)From $64.96 |
| Best for Renovations | Home insurance plan Hong Leong Home Protect360 Gold | Estimated annual premium rate (as of 22 August 2025)From $226.70 |
| Best for *Estimated premium rates are based on the information provided on 22 August 2025 on MoneySmart’s Home Insurance comparison page. | Home insurance plan |
Which One Do You Need?
Consider Your Risks
When deciding between fire insurance and home insurance, it's important to consider the risks that your property may face. If you live in an area prone to natural disasters or have valuable items in your home, then home insurance may be a better choice for you. On the other hand, if you are on a tight budget and want to fulfill the mandatory requirement for HDB flats, then fire insurance may be sufficient for your needs.
By understanding the differences between fire insurance and home insurance, you can make an informed decision on which type of insurance is best for your BTO or resale HDB. Consider your risks and budget, and choose the insurance that will provide the best protection for your property.
Temporary accommodations benefits
Fire insurance typically does not include coverage for temporary accommodation benefits. Fire insurance is primarily designed to cover damage to the building structure due to specified perils (e.g., fire, lightning) and related losses.
On the other hand, home insurance often includes coverage for temporary accommodation benefits. This means that if your home becomes uninhabitable due to a covered event (e.g., fire, water damage), your insurance policy may provide financial assistance to cover the cost of temporary accommodation. So you’ve got to consider whether you’ll need such benefits if you do not have relatives or friends who are willing to offer a space for you to temporarily live in.
Mortgage requirements
Optional add-ons
Finding the right home insurance? Compare the best home insurance plans here!
Compare Home Insurance Plans in Singapore 2025
AIG Homes Essential (formerly EPHCI)
- Building Coverage
- Up to S$100,000
- Household Contents and Renovations
- S$150,000
- Personal Liability within Singapore
- S$400,000
- Premiums after discount
- S$69.50
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with an eligible AIG Home Essential Insurance purchased.
T&Cs apply
MSIG Enhanced HomePlus - Standard
- Building Coverage
- Optional Add-on
- Content Coverage
- S$125,000
- Worldwide Personal Liability
- S$1,000,000
- Annual Premium Annual Premium
S$120.9920% Off - S$96.79
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Score a $20 GrabGift voucher with a purchased MSIG HomePlus premium! T&Cs apply.
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• Get up to S$40 Cash via PayNow OR an Apple AirTag (worth S$45) with Enhanced HomePlus Insurance plans. T&Cs apply.
• Enjoy 20% off on all Enhanced HomePlus plans and get a $15 e-voucher on Classic and Premier plans!
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- Building Coverage
- Optional Enhancement*
- Content Coverage
- S$35,000
- Family Worldwide Personal Liability
- S$500,000
- Annual Premium Annual Premium
S$81.2120% Off - S$64.96
MSIG HomeEasy - Silver (3-room or smaller HDB - Owner Occupied / Landlord)
- Building Coverage
- N/A
- Home Contents and Renovations
- S$100,000
- Worldwide Personal Liability
- S$1,000,000
- Annual Premium Annual Premium
S$73.0320% Off - S$58.42
Enjoy 20% off on any MSIG HomeEasy premiums. T&Cs apply.
How Much Does Fire Insurance For BTO/HDB Cost?
| Flat type | 5-year premium (including GST) | Sum insured |
|---|---|---|
| Flat type 1-room | 5-year premium (including GST) $1.11 | Sum insured$37,900 |
| Flat type 2-room/2-room Flexi | 5-year premium (including GST) $1.99 | Sum insured$57,000 |
| Flat type 3-room | 5-year premium (including GST) $3.27 | Sum insured$83,300 |
| Flat type 4-room/S1 | 5-year premium (including GST) $4.59 | Sum insured$117,000 |
| Flat type 5-room/S2/3-Generation | 5-year premium (including GST) $5.43 | Sum insured$144,800 |
| Flat type Executive/Multi-Generation | 5-year premium (including GST) $6.68 | Sum insured$176,700 |
| Flat type Disclaimer: Updated as of 22 August 2025. All premium and sum assured figures may be subject to change by HDB without prior notice. From 16 August 2024 to 15 August 2029, Etiqa is the official HDB fire insurance provider. | 5-year premium (including GST) |
Steps To Getting Your Fire Insurance From HDB
Given that there is only one fire insurance plan available for BTO and resale HDB flats in Singapore, you can only purchase it from the Housing and Development Board (HDB).
To buy HDB fire insurance, you can visit the HDB website or any HDB branch office. You will need to provide your HDB flat number and the date of your HDB loan (if applicable). You can also purchase HDB fire insurance through a qualified insurance advisor.
The cost of HDB fire insurance will vary depending on the size and type of your HDB flat. For a 4-room flat, the premium for a 5-year policy is currently S$5.94.
Here are the steps on how to buy HDB fire insurance online:
- Go to the HDB website and log in to your My HDB account.
- Click on the "HDB Fire Insurance" tab.
- Click on the "Buy Now" button.
- Enter your HDB flat number and the date of your HDB loan (if applicable).
- Select your preferred payment method.
- Review your order and click on the "Confirm" button.
- Once you have purchased HDB fire insurance, you will receive a confirmation email from HDB. You will also receive a policy document in the mail.
Frequently Asked Questions
Is home insurance better than fire insurance for my BTO?
- Yes and no. If you own a BTO or resale HDB, you are required to have fire insurance. However, this may not be enough to fully protect your property. If you want to have coverage for a wider range of perils and additional coverage options, then home insurance may be a better option for you.
How much does fire insurance for BTO/HDB resale cost?
- It ranges from $1.62 to $7.15, depending on whether you own a 1-, 2-, 3-, 4- or 5-room/S2/3-generation HDB resale or BTO flat, based on the estimated 5-year premium rates provided by the CPF Board.