Protect your home and its contents from fire, theft and other damages with comprehensive cover.
Our home insurance plan ensures peace of mind by protecting you, your family and your home against unforeseen events.
Our home insurance plan ensures peace of mind by protecting you, your family and your home against unforeseen events.
Protect your home against unforeseen events
Protection for your house building[1], its contents[2] and renovations[3] against fire[4], burst pipes[5], theft[6] and more.
24/7 Emergency Home Assistance
Get peace of mind for assistance on home emergencies such as plumbing, electrician, locksmith, pest control and air-conditioner repair services, with Income's Emergency Home Assistance[7].
Family liability
Coverage for you or your family member if damages are caused to neighbouring houses such as in the event of fire.
Coverage for accidental loss of or damage to the mirrors or fixed glass (which form part of the building or renovations).
Replacement of locks and keys, conservancy charges, loss of rental income and hotel expenses, the removal of debris and more. View details
Protection against accidental death, disability and specified injuries[8].
Flexibility to decide how much coverage you want for your home, avoiding both over-insurance and under-insurance.
For a more detailed look at what you are covered for, you may view the full coverage information here.
How Enhanced Home Insurance provides protection for your home
PROTECTION FOR
YOUR HOUSEHOLD
HOME CONTENTS[2]
Damages covered
e.g. television, laptop, bed
Accidents in the home[1]
Accidental death or permanent disability covered
DAMAGES TO OTHERS' HOUSES
Liability covered
e.g. if fire from your house spreads to theirs
RENOVATIONS
Damages covered
e.g. ceiling lamps, walk-in wardrobe, kitchen counter
Understanding Over and Under Insurance
Mr Tan just bought a new house with a market value of $800,000 and wishes to insure it.
As insurance is meant to cover the cost to restore your property to its undamaged state, the amount to insure is the reinstatement cost if the property was completely destroyed, which may be different from its market value.
If Mr Tan’s house costs $500,000 to restore it to its undamaged state in the event it gets completely destroyed, $500,000 is recognised as the reinstatement cost and the amount he should insure.
Under Insurance is when you get coverage that is less than the reinstatement value of your property.
You will only be able to claim a proportion of the damage should you ever need to.
Over Insurance is when you get coverage that is more than the reinstatement value of your house.
You will be paying more than is necessary for additional coverage that is not claimable.
Mr Tan chooses $300,000 building cover which is 60% of the reinstatement cost resulting in him being underinsured.
Mr Tan chooses $550,000 building cover which is more than the reinstatement cost resulting in him being over-insured.
Meet Mr Tan, who may encounter 2 possible scenarios where he will be claiming with his Home Insurance after his house was destroyed.
If Mr Tan’s house is completely destroyed, he would incur the reinstatement cost of $500,000 to have it restored to its undamaged state.
Mr Tan will get the $300,000 that he insured his house for, which is only 60% of the loss.
Mr Tan will get only $500,000 even though he insured his house for $550,000 because it costs $500,000 to reinstate his house to its undamaged state.
If Mr Tan’s house gets partially damaged, it would cost him $200,000 to restore it to its undamaged state.
Mr Tan will only get coverage for 60% of the loss and will be able to claim $120,000 even though his building cover is $300,000 as he is underinsured.
Mr Tan will get the full $200,000 required to reinstate his house.
Our Enhanced Home Insurance offers you that value-add by giving you the flexibility to choose the coverage amount you need for your building, renovations and contents.
The above examples are for illustrative purposes only.
Information is correct as of 20 September 2019.
Benefit | Maximum Benefit Limit | Applicable Excess (Amount you are responsible for) |
Loss of or damange to building or renovations | Overall section limit: As per the reinstatement amount you insure |
The first $100 for every loss or damage caused by the following. a. Water tanks, apparatus or pipes bursting. b. Hurricane cyclone, typhoon, windstorm, eathquake or volcanic eruption.
|
Loss of or damage to contents Type of contents - Legal documents - Mobile phones - Bicycles - Money - Laptop, desktop and tablet computer - Valuables
- All contents not listed above |
Overall section limit: As per the reinstatement amount you insure Sub-limit: $500 in total $500 for each item or set and $1,500 in total $1,000 in total $1,000 in total $1,500 for each item or set and $5,000 in total 5% of the overall section limit under loss of or damage to content benefit for each item, set or pair and up to one-third of the overall section limit under loss of or damage to contents benefit in total No sub-limit |
|
Loss of rental income and extra hotel expenses
Extra hotel expenses |
Overall section limit: 10% of the total section limits of Loss of or damange to building or renovations benefit and Loss of or damage to contents benefit Sub-limit: Up to $350 a day |
Does not apply
|
Family personal accident 1. Adult aged 21 but under 70 years old 2. Child aged from 30 days to 21 years old
Scale of compensation a Accidental death b Permanent total disability c Loss of sight in both eyes d Loss of two or more limbs e Loss of sight in one eye f Loss of one limb g Loss of speech h Loss of hearing in both ears |
Overall section limit: $50,000 Sub-limit: $20,000 for each adult Sub-limit: $10,000 for each child
Percentage of benefit limit 100% 100% 100% 100% 50% 50% 50% 50% |
|
The total of all percentages due under Family personal accident benefit will not be more than 100% for each person within every 12-month period of the policy. | ||
Family worldwide liability |
$500,000 |
For a more detailed look at what you are covered for, you may view the full policy conditions here.
Enhanced Home Insurance | Home Ultimate Protect |
Standard coverage for your building[1], home contents[2] and renovation[3], that covers damages and losses caused by insured events such as fire[4], pipe burst[5], theft[6] and more. | All-risks coverage for your building[1], home contents[2] and renovation[3], that offers a wide coverage for damages and losses that arise from any accident that is not specifically excluded, such as fires[4], floods, monkey raids and more. |
Up to $500,000 family worldwide liability[9]. | Up to $2,000,000 family worldwide liability[9]. |
Complimentary 24/7 Emergency Home Assistance Service[7] in the event of home emergencies, for plumbing, electrician, locksmith, pest control and air-conditioner repair services. This service is limited to 4 times a year[10], and up to $100 per accident. | Complimentary 24/7 Emergency Home Assistance Service[7] in the event of home emergencies, for plumbing, electrician, locksmith, pest control and air-conditioner repair services. This service is limited to 4 times a year[10], and up to $250 per accident. |
Add-on coverage not available. |
Option to add-on coverages: ✅ Worldwide personal belongings ✅ Specific items covered at full value[11] for your valuables. |
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^ Promotion terms and conditions apply.
There are certain conditions whereby the benefits under the plans will not be payable. You can refer to the policy contract for the precise terms, conditions and exclusions of the plans. The policy contract will be issued when your application is accepted.
This is for general information and does not constitute an offer, recommendation, solicitation or advice to buy or sell any product(s). Please seek independent financial advice before making any decision. You can find the usual terms and conditions of this plan at policy conditions.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Income or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
Information is correct as at 4 November 2024.
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