For business properties: Get Commercial Property Insurance. This will cover your structure (i.e. 4 walls and ceiling/floor), plus your inventory/stocks, and equipment/machinery, and other misc. belongings. Rates are typically very affordable; depending on what kind of business you're running, you can get $100,000 coverage, for just $100-$200/year & up.
For houses and other personal properties: Get a home insurance policy. Make sure it covers more than just your structure, and also includes coverage for your home contents. For example, HDB's mandatory Fire Insurance only covers your structure (4 walls and ceiling/floor), and does NOT cover damage to renovations you've done, and belongings in your home.
For business properties: Get Commercial Property Insurance. This will cover your structure (i.e. 4 walls and ceiling/floor), plus your inventory/stocks, and equipment/machinery, and other misc. belongings. Rates are typically very affordable; depending on what kind of business you're running, you can get $100,000 coverage, for just $100-$200/year & up.
For houses and other personal properties: Get a home insurance policy. Make sure it covers more than just your structure, and also includes coverage for your home contents. For example, HDB's mandatory Fire Insurance only covers your structure (4 walls and ceiling/floor), and does NOT cover damage to renovations you've done, and belongings in your home.