You’re a bicycle riding aficionado, a liability conscious individual, or a house proud expat with loads of personal belongings. Many travel regularly, for business or pleasure, with valuables such as cameras or computers, a four-figure valued watch or a five-figure valued diamond engagement ring?
If you match any of these profiles, you may want to consider a Home and Contents insurance policy for expats while living and working in Singapore.
You can protect your valuable items, general contents, residential properties, and personal liability all under the Home Insurance umbrella. The type of Home Insurance available to you as an expat will depend on your situation as an owner or a renter. The majority of expats in Singapore rent condominiums or landed houses.
We often spend a great deal of time and money decorating our homes and enjoying the stories behind the acquisition of these items. Silk textiles from Laos, paintings from Vietnam, Indonesian ikat fabrics used as upholstery, antique teak wood benches from Indonesia, Tibetan handmade rugs, Imperial Chinese furniture, or fine colonial antiques.
Available to you are home Insurance policies that protect your valuables and the general contents of your home. If you own a non-landed property (HDB or Condo), you can also purchase Home Renovations Insurance that will cover your fixtures and fittings.
If you have an eye for renovation and remodel any part of your property, you can add the fixtures associated with the renovations to your policy as a separate add-on within the term of your current policy. No need to wait until renewal. And if you own a landed property, your Home Insurance would cover the property as well.
Regardless of your situation as an owner or renter, the Home Insurance you take out will also have a Personal Liability element. Personal Liability protects you and your family against situations where you may be legally responsible.
Accidentally opening the driveway gate onto the gardener’s equipment; a child who scratches the neighbour’s car while riding a bike; a pet dog that bites; these are all unexpected incidents that could lead to a third party seeking damage costs from you.
You can choose the amount of Personal Liability cover, but like insuring valuables, you can only select Personal Liability as an element of Home Insurance cover.
If you experience a life change such as marriage, divorce or the birth of a new-born, or have made financially lucrative decisions such as selling art or other personal items of value, Home Insurance policies are flexible and can be changed to add valuable items or remove them, in the first case it may add to the premium, and in the latter it will lower the premium.
Likewise if you suddenly find yourself in an expat-relocation situation and you cancel a policy midterm, a pro-rated refund rate may apply based on the terms and conditions of your policy. The value of covered items, claim history and coverage denial will all impact your premium.
Contact a qualified Home Insurance Advisor to have your valuables and contents assessed for an accurate quotation and protect your belongings from Day One in Singapore. If you have any questions or concerns about Home and Content insurance, or any other insurance needs, please contact an Expat Insurance advisor for personalised service.
Brought To You By Expat Choice
