Everything You Need To Know About Singapore’s HDB Fire Insurance

Everything You Need To Know About Singapore’s HDB Fire Insurance

The Housing & Development Board (HDB) has made the HDB Fire Insurance Scheme mandatory for people who live in public housing. This may sound familiar to current HDB owners or those looking for a HDB flat.

But, what is the HDB Fire Insurance Scheme? What exactly does it include and what does it cover? Continue reading to learn everything you need to know about HDB Fire Insurance and whether it’s adequate for your needs.

The HDB Fire Insurance Scheme

The current insurer of the HDB Fire Insurance Scheme is FWD Singapore Pte. Ltd, and the insurance is good for 5 years, with renewals occurring every 5 years.

The 5-year premiums (with 7% GST) are as follows till August 15, 2024:

Flat Type5-Year PremiumSum Insured
2-room/ 2-room Flexi$2.71$48,700
4-room/ S1$5.94$82,000
5-room/ S2/ 3-Generation$7.13$97,300
Executive/ Multi-Generation$8.10$106,200
Studio Apartment (Type A/ B)$2.71$48,700

Purchase & Renewal

Every HDB flat purchased from HDB requires the purchase of required fire insurance from the appointed insurer. You most likely made the purchase when applying for your HDB loan. What you must leave out is the renewal of the HDB fire insurance after it has expired.

Fortunately, FWD’s website allows you to renew your license online. You could also do it at any AXS kiosk or simply arrange an appointment and visit with a FWD agent at their office.

Basic Coverage

The HDB Fire Insurance Scheme only offers the minimal necessities.

Coverage (HDB Fire Insurance Scheme)
Restoring damaged internal structures, fittings, and electrical wiring
Areas built and made available by HDB

Simply put, if it was not present when you originally took possession of your new HDB flat, it is not covered by the HDB Fire Insurance Scheme.

This implies that if there is a fire, you will not have to pay to repair the damages to the walls, electrical wiring, and water pipes, but you will have to pay for the renovation and purchase of furniture to restore your flat to its previous condition, which might be rather costly.

How to Get More Coverage

The fire damage restoration prices may vary depending on the extent of the damage to your home following the outbreak of a fire.

Source: The Straits Times

However, the quantity insured under the HDB Fire Insurance Scheme is very likely insufficient to cover the cost of fire damage restoration. This means that if there is a fire, you will have to pay for it out of your own wallet.

Many of you may be wondering: In such situation, are there any choices accessible so that I do not have to pay out of my own pocket?

Fortunately, alternative insurance solutions are available on the market to augment your HDB Fire Insurance Scheme and provide additional coverage.

All You Should Know About Home Insurance

Home insurance is intended to enhance your current fire insurance. It protects your apartment from typical disasters such as fire, water pipe damage, and theft.

In comparison to the HDB Fire Insurance Scheme, the scope of coverage provided by Home Insurance is substantially broader

CoverageHDB Fire InsuranceHome Insurance
Structural DamageYesYes
Electrical Wiring + Water Pipe DamageYesYes
Personal AccidentsNoYes
Home ContentsNoYes
Alternative AccommodationNoYes

Furthermore, even if you are still repaying your house loan with the bank, you are the beneficiary of the insurance plan rather than the bank.

There are two kinds of home insurance.

  • Perils Covered: This protects you against certain calamities or mishaps like fires, floods, and thefts.
  • All-Risks: Because it covers a greater range of conditions, it is usually more expensive.

Different insurers may offer different coverages as a unique selling point to separate themselves from other insurance firms. The sort of coverage available is also affected by the type of Home Insurance.

However, most, if not all, Home Insurance policies cover the following areas:

CoverageScope of Coverage
RenovationsHome insurance can cover renovations as well as the fixtures and fittings that you have installed.
Home ContentsThis covers household items and appliances including washing machines, fridges, televisions etc
Personal LiabilityThis grants you coverage whenever you become legally liable for a mishap that occurs in your home. For instance, where a fire begins at your house and then spreads to your neighbour’s
Alternative AccommodationIn the event that your home is uninhabitable, Home Insurance provides a daily payout to help you find alternative housing, up to a certain number of days.
Personal AccidentsThis covers medical expenses or a payout in the event of death or disability, and it also applies to your domestic assistant.
Personal Items: Valuables & MoneyThis protects your money, jewels, and other personal stuff. Each item type has a claim limit.
PetsIt may be a bonus. This only applies to specific pet breeds, usually dogs and cats. Depending on the insurance

Potential Consideration Factors

To choose the finest house insurance plan for yourself, you must first assess your needs in order to avoid over-insuring or under-insuring yourself. You could ask yourself the following questions to determine your needs:

1. How Much Would Your Renovation Cost If Your Entire Home Was Affected?

This figure is heavily influenced by the size of your home. If your home is being renovated in a minimalist style, you may be able to get away with less coverage. If, on the other hand, your property makeover is rich and ostentatious, you may wish to select plans with a bigger insured sum. You could estimate the cost of your prior renovations.

2. What Is The Estimated Value Of Your Household Contents?

You may make a preliminary estimate of the value of your household assets, such as furniture and other valuables, and then decide how much coverage you require.

3. Does The Plan Suit Your Requirements?

Varying people place different emphasis on topics that are significant to them. Some may be more anxious about their pets, while others may be more concerned about ensuring adequate hospital allowances in case their loved ones were injured.

In this situation, you should look for a plan that provides the most coverage in the areas that are most important to you.


The recommendations we have identified that may be suitable for your needs are listed below.

Most Valuable Home Insurance for HDB Flats: FWD, Etiqa, Aviva

FWD Home Insurance

Premiums & Benefits

3-RoomMkt Avg.4-RoomMkt Avg.5-RoomMkt Avg.
Annual PremiumSS$93.00SS$160.00SS$226.00
Value Ratio1,3151,3641,423
Renovation CoverageS$40,000S$64,928S$60,000S$122,222S$80,000S$181,000
Contents CoverageS$20,000S$31,203S$40,000S$53,561S$60,000S$80,280
Prices shown are after any current specials and include GST

FWD’s house insurance is one of the most affordable options on the market. You will not only pay one of the lowest premiums on the market, but you will also receive comprehensive and unique coverage. This includes alternate lodging, home assistance, theft or damage to temporarily displaced items, and optional pet and personal accident coverage. It does, however, offer low item sub-limits, so individuals wishing to safeguard really expensive possessions (worth more than S$1,000) may do better with other plans on this page.

Etiqa Home Insurance

Premiums & Benefits

3-RoomMkt Avg.4-RoomMkt Avg.5-RoomMkt Avg.
Annual PremiumSS$93.00SS$160.00SS$226.00
Value Ratio1,3151,3641,423
Renovation CoverageS$60,000S$64,928S$80,000S$122,222S$140,000S$181,000
Contents CoverageS$35,000S$31,203S$45,000S$53,561S$90,000S$80,280
Price after GST and includes 15% off

Tiq Home Insurance from Etiqa combines affordable premiums with crucial features for HDB owners. While its 1-year plans are already 35% less expensive than the average, its 5-year plan will save you an additional 15%. Tiq also provides S$800 in emergency home assistance coverage for locksmith, plumbing, electrical, and pest control services for 3- and 5-year plans, which is the highest on the market.

Etiqa’s house insurance also includes S$5,000 in emergency cash services, which may be paid into your e-wallet in as little as one working day in the event of a fire. These benefits can significantly improve your peace of mind, making Tiq Home Insurance a dependable and cost-effective home content coverage solution for no-frills homeowners.

Singlife With Aviva Home Insurance

Premiums & Benefits

Home Lite (3-4 Room)Mkt Avg.Home (4-Room)Mkt Avg.Home Plus (5-Room)Mkt Avg.
Annual PremiumSS$160.00SS$160.00SS$226.00
Value Ratio1,3641,3641,423
Renovation CoverageS$75,000S$122,222S$100,000S$122,222S$100,000S$181,000
Contents CoverageS$35,000S$53,561S$50,000S$53,561S$100,000S$80,280

Singlife’s house insurance packages, together with Aviva’s, undoubtedly constitute one of the finest value options for HDB owner-residents. This is owing to its low cost and extensive coverage for both renovation and content. However, unlike the other bargain alternatives on this list, Aviva’s home insurance policies do not automatically cover things like lock replacement and freezer food. You must pay an extra price of at least S$15 per item to insure such things. If you’re more concerned with covering expensive furniture and remodelling projects, Aviva could be a good option.


As is often said, ‘Home is where the heart is.’ Nothing is cozier than our houses; they house our families, memories, and prized items. When settling into your new home, purchasing the right insurance for your property is just as crucial as selecting the perfect set of furniture or the right flat for you.

Business Asia
the authorBusiness Asia

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