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Do i need Home Insurance ?
Posted: Tue, 06 May 2008 11:35 am
by SeanTan
Hi,
My HDB flat is cover under HDB insurance scheme. Do i stll need to purchase another home insurance from insurance company ? Can anyone advice on this issue ?
Posted: Tue, 06 May 2008 1:59 pm
by sundaymorningstaple
Unless you HDB flat is completely empty with nothing, and I mean nothing, in it the yes you need additional insurance.
HDB Fire insurance only covers the Building structural portion of the unit. It does NOT cover anything you put inside if it. So if you put in 75,000 worth of renovations, cabinets, etc, etc and also have 100,000 worth of belonging, furniture, TV, Clothing Computers and anything else it is not covered. Estimate a replacement value to replace everything you own that is inside the walls of your flat and that's the amount you should insure your house contents for.
Of course you already know all of this as I suspect you are an insurance agent anyway but as long as you don't start recommending a particular Insurance agency you will be okay. 6 posts and all regarding insurance. And this one in two different threads (the other one has been deleted).
moderator
Posted: Tue, 06 May 2008 4:12 pm
by SeanTan
Thanks for your reply. You really give a very detail explaination. It really enhance my understanding for home content insurance. now i know that it is so important. That what i like about this forum. You guys always reply instantly. Cheers!
Posted: Tue, 06 May 2008 7:40 pm
by Matney
(tongue in check)at least SeanTan can now PM if he needs too!!
Posted: Tue, 06 May 2008 11:12 pm
by sundaymorningstaple
Yeah, he has to reply as I had deleted his duplicate post this afternoon.
Matney, here's the one you want:
