Allianz Insurance Singapore Encourages Homeowners to Strengthen Their Home Protection as Residential Fires Continue to Rise
As these numbers climb, Allianz Insurance Singapore is encouraging homeowners to take a proactive look at their home insurance in Singapore and ensure their coverage reflects the full value of what is inside their home.
For HDB flat owners, the compulsory HDB Fire Insurance Scheme provides a strong foundation, covering the cost of reinstating internal structures, fixtures, and fittings originally provided by HDB. This is valuable protection that ensures the flat itself can be restored after a fire.
But what about the renovation that took months to plan? The furniture, the electronics, the personal belongings accumulated over the years? These sit outside the scope of the compulsory scheme, along with alternative accommodation and personal liability. In other words, HDB fire insurance protects the structure of the home. It does not cover what homeowners have invested inside it.
For homeowners looking to extend their protection beyond the compulsory scheme, there are options available. Allianz Home Protect is a comprehensive home insurance plan that picks up where the compulsory scheme leaves off. It covers loss or damage to home contents and personal belongings caused by fire, water damage, theft, and a range of other covered perils, with renovations covered up to S$150,000 and home contents up to S$100,000, with optional add-ons available to extend coverage further.
If a family needs somewhere to stay while their home is being repaired, the plan provides for that too. For added peace of mind, homeowners are also covered by worldwide personal liability of up to S$2,000,000 should damage from their property affect others. Plans start from S$8.18 per month, inclusive of 9% GST.
As residential fires continue to rise, homeowners may wish to review whether their current coverage reflects the full value of the home they have built.
For more information on Allianz Home Protect, visit: https://www.allianz.sg/individual-solutions/allianz-home-protect.html
Coverage is subject to the terms, conditions, and exclusions of the Allianz Home Protect policy. Please refer to the Policy Wording for full details. This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). This advertisement has not been reviewed by the Monetary Authority of Singapore.
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About Allianz Insurance Singapore Pte. Ltd.
At Allianz Insurance Singapore, we aim to secure the future and create a positive impact on society and the environment by leveraging our expertise in risk management. As we work toward strengthening our position as one of Singapore's leading risk solutions providers, we deliver innovative and customer‑focused protection solutions for individuals, SMEs, and mid‑corporate clients – spanning Motor, Home Content, Travel, Personal Accident, Cancer, Hospital Income, and a comprehensive suite of commercial insurance offerings.
