Compare and buy Home Insurance in Singapore
Buy Home Insurance In 5 Simple Steps
We are not just a regular Home (Property) Insurance comparison platform. On Insurance Market we stop the confusion and create “zen” by showing you exactly which policy provides you best value for money based on your personalised needs. On top of that we help you with your admin. We do that by storing your new policy in your own online account, available to you any time anywhere. This account can also be used for other policies you buy through us. This way we create a neat policy overview and enable you to keep your personal details up-to-date, which will come in handy next time you book a policy, saving you from having to endlessly input the same information.
All of us are different and have our own personalised needs. Suitable Home Insurance for one person may not necessarily be the best policy for another. Insurance Market recommends the best Home Insurance policies, based on your personal requirements and preferences.
Best Value for Money
A cheap policy may turn out not providing the level of cover you need and may cost you a lot at the end of the day. We compare insurers not only on price but use sophisticated algorithms to give you a quick score that makes the quality of their coverage comparable. So you have all the info you need to choose.
We look at policies clinically and without bias. We apply our rating models and analysis when we compare across different types of Home Insurance policies in Singapore. We gather all the important information and then recommend the best policies for you to choose from.
What our customers say…
“Insurance Market makes the process of comparing and buying insurance very convenient and you don’t pay too much!”
Available Home Insurance Policies
Currently, Insurance Market has the following Pet Insurance Policies available to compare and buy directly online:
Aviva Home Insurance
Aviva Home, from S$88.28
Aviva Home Plus, from S$ 160.55
AXA Home Essential
AXA Home Essential Classic, from 82.93
AXA Home Essential Deluxe, from S$ 120.38
EQ Insurance HomeGUARD
HomeGUARD Gold, from 214.00
HomeGUARD Platinum, from 315.65
Liberty Home Care
Home Care Plan B, from S$128.40
Home Care Plan C, from S$192.60
MSIG Home Insurance
Home Plus Superior, from S$176.55
Home Plus Ultimate, from S$233.26
QBE Home Plan
Home Plus Standard, from 179.76
Home Plus Super, from S$256.80
Learn more on Home Insurance
What do you need to know before buying Home Insurance?
Cover and Benefits
Building refers to the building structure of your home. For Housing Development Board (HDB) flats, condominiums, apartments or cluster houses, it will include the building structure (but not the foundations), fixtures and fittings based on HDB’s or the property developer’s standard specifications. For landed properties such as bungalows, semi-detached and terrace houses, it will include the building structure (but not the foundations), garages, outbuildings, swimming pools, terraces, footpaths, driveways, gardens, gates, fences and other private areas you own and which the public do not have access to.
Price is commonly used as a basis among buyers when selecting a home contents insurance plan. With increasing competition among insurers, buyers are spoilt for choice in the marketplace. The focus should fall upon the following key factors besides price:
- “Insured perils” vs “All risks” – This determines how extensive risk exposures are covered under the plan.
- “First loss” vs “Full sum insured” – This determines the value of the financial losses or damages claimable against the plan. Claims settled on a First Loss basis are without penalty for being under-insured. Under the “Average Clause”, the insurers can reduce payment on a claim by the percentage you are under-insured.
- Valuables – Home Contents Insurance normally has a sub-limit for unspecified items. For full-cover, valuables must be itemized for insurer’s review and additional premium. Examples of valuables are watches, paintings, works of art, jewelry, antiques, precious stones and other collectable items.
- Deciding sum insured for your home contents – The general rule of thumb is the replacement cost of your content should it be completely destroyed.
- Common exclusions – They may differ among insurers and hence it is prudent to take a closer look when doing comparisons.
With existing property loan from:
- HDB: HDB Fire Insurance is compulsory. A plan covering home contents and renovations would be appropriate.
- Banks: Usually, fire insurance is packaged with the loan. A plan covering home contents and renovations would be appropriate. In absence of fire insurance, recommended to include cover for building into your plan.
It is prudent to secure protection against financial losses due to any loss or damage caused by any unforeseen risks to your building (home), home contents and renovations.
“Insured perils” are risks or events leading to a financial loss covered by an insurer.
These are examples of insured perils:
- Fire, lightning, thunderbolt or subterranean fire
- Aircraft and other aerial devices and articles dropped therefrom
- Collision or Impact
- Bursting or overflowing of domestic water tank, apparatus or pipe
- Theft accompanied by actual forcible and violent entry or exit
- Hurricane, cyclone, typhoon, windstorm and flood
- Earthquake or volcanic eruption
- Riot, Strike and Malicious Act
As an example, theft cover in a “Fire and EP” policy requires theft to be accompanied by actual forcible and violent entry or exit to be claimable. However, in an “All Risks” policy, the insurers can offer the removal of the restriction “forcible and violent entry or exit” upon payment of additional premium to cover thefts which do not involve elements of force and violence.
A “Fire and EP” policy will state exactly what perils (risks) are covered. Any perils not named in the policy are deemed not to be included for coverage. In an “All Risks” policy, all perils are deemed to be included for coverage unless specifically excluded.
General & Eligibility
- A home owner has clearly vested interests in protecting his home contents against potential financial losses or damages.
- A non-staying landlord may have concerns about the household items provided in a fully or partially furnished rented room/ apartment.
- A tenant, on the other hand, should be mindful of his own contents and any other responsibilities specified in the tenancy agreement.
You are an owner or co-owner when you possess ownership rights or legal title to the premises in Singapore.
To compare different policies:
1. Tick the Add to compare box on each policy card
2. Select up to a maximum of 3 policies to compare and click Compare.
Here, the comparison of the policies selected can be found. Click and expand the various sections to see the comparison of each coverage.
Insurance Market Pte Ltd is a MAS approved broker
Our address is Oxley Biz Hub #03-65, 65 Ubi Road 1, Singapore 408729
The above prices are normal non discounted starting off prices. The actually policy premium maybe higher depending on your personal situation and requirements.