Becoming a homeowner is a huge milestone, and one that comes with plenty of new responsibilities. Amidst the renovation planning, Pinterest board inspo, and furniture shopping, one crucial thing often slips through the cracks: insurance.
And we’re not just talking about the mandatory HDB fire insurance. What many homeowners don’t realise is that this basic coverage doesn’t actually protect most of what makes your house feel like home — think built-in carpentry, appliances, even valuables like laptops and heirlooms.
Here are five commonly overlooked things you’ll want to insure when choosing a home insurance plan, before you find out the hard way that they’re not covered.
P.S.: We’ve also included tips on what to look out for when looking for more comprehensive home insurance so you can protect your space and your peace of mind from life’s unexpected mishaps.
1. Renovations and built-ins
Renovations are a major highlight of owning a new home. It is a way for homeowners to express themselves in their brand-new space and create a living environment that reflects their lifestyle, needs, and personality.
However, renovations don’t come cheap, especially if you’re investing in custom built-ins or carpentry tailored to your lifestyle. What’s more, most basic fire insurance policies in Singapore don’t cover damage to these fixtures and fittings, leaving a significant gap in protection.
Fire insurance typically covers only the original building structure as provided by HDB or your property developer. That means, unless your renovations are insured separately, any damage caused by fire, burst pipes, or other incidents may not be claimable, leaving you to foot the bill.
When choosing a plan, look out for policies that specifically cover your renovations, built-ins, flooring, and fixtures to keep your home well-protected.
2. Appliances and furniture
Your renovation costs are but one part of the investment that goes into a home. Appliances and furniture complete the package, and are equally—if not more—of a significant expense.
That modular designer sofa and smart home set-up are huge boons for your everyday comfort, but what many homeowners don’t realise is that appliances and fixtures are another component not covered by basic fire insurance. This means any damage from accidents, fire, or water leaks could leave you with hefty replacement costs.
That’s why it’s essential to consider what is known as “contents coverage” when purchasing a home insurance policy. With contents coverage, your home’s contents, including physical and movable items like furniture, appliances, and even electronics, are protected and claimable in case of damage.
3. Personal belongings and valuables
Basic insurance doesn’t just neglect your fixtures and the furnishings in your home—its coverage also excludes the smaller, but still valuable things you keep around the home, like heirlooms, personal devices, as well as valuables like jewellery or watches.
Opting for a plan with contents coverage also ensures all your high-value and sentimental items are covered by your home insurance plan, as long as they comprise the contents of your home.
4. Emergency home repairs
Image credit: Canva Pro
We’ve all heard horror stories about burst pipes causing kitchens to flood, air-conditioners breaking down in the middle of a sweltering night, or a surprise invasion from pests throwing your home into chaos. Emergencies are both incredibly disruptive and costly, given that rushed repairs—if you’re even able to find help at short notice—often come with a hefty price tag.
Seeking out a home insurance policy that offers emergency home assistance round-the-clock is a smart way to minimise both stress and out-of-pocket expenses when the unexpected happens.
5. Damage to neighbouring homes
Many homeowners don’t realise that if a fire or water leak from your unit causes damage to your neighbours’ homes, you and your family could be legally liable for the repairs. This kind of liability can result in not just repair costs, but also legal expenses, especially if the case is brought to court.
That’s why it’s crucial to have liability coverage included in your home insurance plan. It’s a layer of protection many overlook, but one that can make a big financial difference in the event of an unfortunate accident involving someone else’s property. Make sure said coverage also includes the legal costs and expenses needed to represent or defend you in court, beyond covering you and your family for damages.
Income Enhanced Home Insurance offers comprehensive coverage for your family and home
Your home is more than just a physical space. It’s where memories are made, comfort is created, and your family finds a sense of belonging. That’s why having the right protection in place matters more than you might think.
Here’s where Income’s Enhanced Home Insurance comes in. The policy goes beyond basic coverage, offering a comprehensive plan that protects not just your home’s structure, but also your renovations, appliances, personal belongings, and even the legal costs that may arise if damage affects your neighbours. It also includes complimentary 24/7 Emergency Home Assistance, so help is just a call away when unexpected situations strike.
With customisable coverage to suit your needs and peace of mind for you and your loved ones, this policy ensures that if anything goes wrong—from fire to theft, and other damages—you can restore your home to the haven it was meant to be.
Better yet, you can currently enjoy 30% off when you sign up for a 3-year Enhanced Home Insurance plan. Receive an additional 55,000 STAR$ when you purchase with a minimum premium of $550 (after discount). Apply promo code <HOME30> upon checkout to enjoy the discount.
Find out more about Income’s Enhanced Home Insurance
This post was brought to you by Income Insurance.
Cover image adapted from: Canva, The Local INN.terior.
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