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Updated May 2022

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    Seedly's Product Comparison Page Listing Guidelines
    For Home Insurance products to be listed on Seedly's Product Comparison Page, they have to fulfil the following criteria:

    • Policies protected under the Policy Owners’ Protection (PPF) Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC)
    • Provides household content and renovation coverage

    Best Home Insurance Plan in Singapore Review 2021

    Thinking of getting the best home insurance plan in Singapore?

    Here're the various options available in the market right now:

    AIA Elite Home Care Insurance

    AIG Home Insurance

    Allied World Home Protector 360 Insurance

    AVIVA Home Insurance

    AXA SmartHome Essential Home Insurance

    CHUBB Simply Home Enhanced Insurance

    FWD Home Insurance

    Great Eastern HomeGR8 Essential Home Insurance

    Hong Leong Assurance Home Protect360

    India International Insurance Home Insurance

    Liberty Insurance HomeCare Home Insurance

    MSIG Home Insurance

    NTUC Enhanced Home Insurance

    Sompo HomeBliss Home Insurance

    Tiq Home Insurance

    Just check out the real user reviews on SeedlyReviews to find out which is the best option to go with!

    What is Home Insurance?

    "This is... HOMEEEEE, TRULYYY" ~

    Home, is where our safe haven is. In this case, home refers to the place with our loved family members, the place where our chouchou is and where taking a dump is the most comfortable and relaxing. Hence, our home is very important and we need to protect it with... *drum rolls* Home Insurance!

    What's new right?

    In the event of fire, theft or natural disasters, Home Insurance protects both your physical housing space and the contents within, and it is not limited to only the structural features - the building, fixtures, fittings as well as renovations and your household content.

    HDB Fire Insurance vs Home Insurance vs Mortgage Insurance

    If you are staying in an HDB and have an outstanding loan, you would know about the compulsory HDB Fire Insurance, whose current appointed insurer is FWD Singapore. Or if you are paying your outstanding HDB Loan using your CPF, you would need the Home Protection Scheme, a Mortgage Insurance. You may think, all these insurance for only one house, why so extra? Isn't one enough?

    So, what is the difference?

    HDB Fire Insurance

    Compulsory for all HDB Owners with outstanding HDB Loans

    Coverage: Repair works in the unfortunate event of a fire

    Term Period: 5 years (Renewal every 5 years)

    Home Insurance

    Coverage: Internal building, fixtures, fittings as well as renovations and your household content in an event of theft, fire or natural disasters (not that Singapore would have, but just in case) - It includes your domestic helper or

    Mortgage Insurance

    Coverage: Paying of Mortgage loans in an event of death, total & permanent disability

    In other words, you can say that Fire Insurance is a subset of Home Insurance, but both help to insure against the financial burden in the case of a fire or natural disaster. On the other hand, Mortgage Insurance covers other areas as it serves as a protection in the case of death.

    Do I Really Need Home Insurance?

    Be it living in or renting your house out, having a Home Insurance plan would serve as a good safety net. Because given that you accidentally left the stove on or that your electricity socket caught on fire, all the money put into decorating and getting your furniture will go down the drain. Not only that, you have to spend more money to repair and renovate.

    I mean, you get to change up some styles that you previously didn't like as much but the cost is hefty. If you don't want to pay double the amount for nothing, it is highly recommended for you to get a Home Insurance.

    After getting your keys and rolling that pineapple to your new house for HUAT AH, you should head down to get all 3 insurance as they complement each other well in providing very comprehensive coverage for your home in an unexpected unfortunate event.

    How Much Home Insurance Coverage Should I Get?

    You should determine the amount of coverage relevant to you, considering all the big ticket items or possible valuables. Take note not to underinsure your policy! Under Insurance is a common mistake for most people as assets have paper value, and given that your policy coverage is lower than what it actually is, you may get penalized in terms of reduced reimbursement when you apply for a claim. Don't say I didn't warn you!

    Which Best Home Insurance Plan To Get?

    We have made a comparison between all the home insurances that we have considered in the above list and have summarized the findings below:

    Best and Cheapest Home Insurance Plan in Singapore: NTUC Income’s Enhanced Home Standard Insurance

    Best Value Home Insurance Plan in Singapore: AIG Enhanced Public Housing Contents Insurance

    Tools To Help You Choose The Best Home Insurance For You

    To help Singaporeans make smarter personal finance decision, here are some tools to help you:

    If you'd like more information you can

    Check out our article(s) which will help you to pick out the best home insurance:

    If you have questions about which home insurance to get after reading our Real User Reviews, why not ask our community of experts and experienced members at Seedly! Best of all, you can even ask your questions anonymously if you're really, really shy!