Asked on 26 Dec 2018
It actually depends on what you are looking at.
You meant home content insurance or fire insurance?
Home content insurance is for everything inside the house (which include the belongings you store in your home). In the event of fire, reinbursement is done for all the items in the flat. But you will need to check properly and submit receipt (for high value items bought) first. This is efficient use of insurance for the first 5 years (since the value is high). Things depreciate in value (meaning to say my furniture which is worth $500 may drop to $400 after 1 year).
For the Fire insurance (mandotary under HDB), it only covers HDB installed items. Bare coverage of what is installed by HDB.