Home Contents Insurance Coverage | Home Contents Insurance Singapore

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Home insurance is far more comprehensive than you may believe. Learn about the five lesser-known types of home content that you (probably) didn’t realize you could claim for with the correct house insurance policy. Read about home content insurance coverage in Singapore below. 

You most certainly already have some kind of home insurance. For example, if you live in an HDB unit, you must get basic HDB fire insurance. But, as you are probably aware, this is far from sufficient. A more comprehensive house insurance policy will cover things like furniture, renovation, home appliances, and financial loss. However, while these are the most common items covered by home insurance, they are far from the only ones. Indeed, there are many things that home insurance might cover that you may not be aware of.

That’s fine; who has time to read every word in insurance brochures? We’ve done the legwork and highlighted five types of home content you didn’t realize you could claim for under house insurance (and some of the specific plans that cover them).

Home Content Insurance Coverage

Security systems, locks, and keys

Singapore is one of the safest cities in the world, but how secure would you feel if you didn’t have locks and keys? Probably not all that secure. Fortunately, if something happens to your home’s locks and keys, such as a burglary, home insurance will protect you. MSIG’s Enhanced HomePlus, for example, provides some of the most generous coverage for locks, keys, and security systems, totaling up to S$1,500. Furthermore, they have a 24-hour helpline that may give you emergency locksmith assistance.

Your ATM and credit card numbers (if used fraudulently)

If your home is broken into and your ATM or credit cards are stolen, the first thing you should do is contact your bank and cancel the cards. But it may be too late by then. But don’t worry; if you have the proper home insurance, you can make a claim for such unauthorized use.

Legal documentation

Because ATM and credit card losses are relatively regular, replacing them is also relatively simple. Also, legal documents, on the other hand, can be stolen or destroyed in your home. The title deed to your house is one example. If you need to apply for a replacement title, below is a list of fees you may have to pay.

Share certificates are another example. Did you know that if yours is lost or damaged, you must put an ad in a newspaper stating as much before you may request a replacement (if the certificate’s value exceeds S$500)? That is an expense. Fortunately, plans such as AXA SmartHome Essential include stocks, certificates, and documents under the ‘home contents’ umbrella, allowing you to claim for such expenses.

Pets – Home Content Insurance Coverage

Is it a little insensitive to classify pets as “home contents”? Perhaps, but that is just industry jargon, and that is not our objective. Our goal is to demonstrate that home insurance can cover something that is far more valuable to many individuals than any valuable. According to statistics, there are around 200,000 pet dogs and cats in Singapore in 2019, a figure that will only rise as demand continues to surpass supply.

TIQ House Insurance, FWD Home Insurance, and AXA SmartHome Essential are just a few pet-friendly home insurance policies. It’s worth noting that not all of them require your dogs to be deceased in order to file a claim; several also cover injury or theft.

Frozen food

Consider this scenario: you go out and buy a kilo of top A5 wagyu beef and store it in your freezer in anticipation of using your steak cooking talents (which you learned from Gordon Ramsay videos on YouTube) this weekend. It will cost you hundreds of dollars, but it will be well worth it. This is a once-a-year splurge.

Then catastrophe strikes. Your freezer breaks down while you’re at work. That prime A5 wagyu beef is now more subprime than the mortgage debts that caused the global financial crisis in 2008. And your ideal weekend night, spent savouring every mouthful of that delicious piece of beef? Completely damaged.

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