DBS Property Insurance

Owning a house in an expensive country like Singapore is a matter of great pride and honor. One has to invest a lot of time and money in order to fulfil their dream of owning their own house. Thus, protecting it should become a priority for everyone. Opting for a property insurance policy will ensure that their home is safe.

DBS bank is one of the leading banks in the banking and financial sector. With its headquarters in Singapore, the bank has a significant presence in different parts of the world. It provides a wide range of products and services for its customers. Be it cards, loans, deposits or insurance, DBS bank has it all. The bank is very Asia-centric in nature and is growing continuously in the region. Today, DBS has over 250 branches in different parts of the world.

About DBS Bank Property Insurance

DBS bank provides a comprehensive coverage through its property insurance policies. It helps protect a person’s home as well as the contents in it. Apart from protecting the home of a person, the bank’s insurance policies also provides a feeling of safety to the family of an individual.

DBS bank provides two types of property insurance schemes to its customers -

  • MyProtector Mortgage
  • HomeShield

DBS Bank Property Insurance Policies

MyProtector Mortgage

Through its MyProtector Mortgage insurance policy, DBS bank protects a person’s family from the fear of losing their home. In case a person is unable to pay off his home loan because he dies or suffers from a terminal illness during the term of the policy, then the insurance policy will clear this debt. This policy gives you the option of choosing to protect your home in case you are permanently disabled or are diagnosed with some form of critical illness in the future.

MyProtector MortgageFeatures and Benefits

  • The MyProtector Mortgage insurance policy of DBS bank is very flexible. A person can select a period between 5 and 82 years to cover his loan tenure and the rate of interest which is closer to his mortgage interest
  • The premium of this insurance policy will not change during the term. For the last two years of the premium, one does not have to pay any premium
  • This insurance policy allows you to choose your mode of payment
  • In case a person has a joint house owner, he can include two people in the policy
  • From the day a person signs the application, he gets an immediate coverage for 90 days.


Through its HomeShield insurance policy, DBS bank provides protection for the contents present in an individual’s home such as furniture, valuables and renovation among others. The coverage is provided when the damage is caused due to fire, floods, theft, etc.

HomeShield Features and Benefits

  • This policy has premiums which start from S$119.88 per year and this amount includes the 7% GST
  • In case there is no claim, the policy provider will refund 25% of the premium
  • A person can avail a coverage of maximum S$320,000 in case of damage or loss of home contents
  • The policy provides coverage up to S$1,000,000 for personal liability of the full household (globally)
  • The policy provides reimbursement of maximum S$32,000 for rent loss or alternate accommodation


Benefits Classic Premium Ultimate

Amount Insured

Part 1 - Renovation and contents
Renovations damage or loss Up to SGD90,000 Up to SGD130,000 Up to SGD190,000
Contents damage or loss Up to SGD40,000 Up to SGD100,000 Up to SGD130,000
Contents and renovations damage or loss caused by fire, explosion or lightning


Cyclone, Hurricane, Windstorm, Typhoon, Flood (Excess - SGD100)


Overflowing or bursting of pipes or water tanks (Excess - SGD100)


  • Earthquake


  • Aircraft


  • Damage caused by a road vehicle


  • Riots or strikes


  • Malicious damage


  • Robbery by violence and forced entry


Total Up to SGD130,000 Up to SGD230,000 Up to SGD320,000
Part 2 - Liability cover Liability limit
Personal liability for the complete household (global) Up to SGD1,000,000
Liability of the tenant (Excess - SGD100) Up to SGD500,000
Part 3 - Global family protection in case of accidental death Amount insured
A person and his spouse SGD10,000 each
Child SGD5,000 for each child
Part 4 - Home assistance in case of emergency
24 hour Home Assist helpline for services which includes medical advice over the telephone, private medical transportation arrangement, contacts of plumbers, electricians and locksmiths Included
After loss covers (following the damage covered in Part 1)
Alternate accommodation or rent loss Up to 10% of the total amount insured
Debris removal Up to SGD2,500
Protection cost (Temporary) Up to SGD2,500

Allowance of emergency cash

Buying of important personal effects if a person’s home is not fit to live in for five days at least

Up to SGD500
Emergency replacement of a person’s PC Up to SGD3,000
Bonus coverage to Part 1
Locks and keys replacement , if stolen Up to SGD500
Contents which have been removed temporarily (for up to 14 days. Limit for each article is SGD500) Up to SGD5,000 (Aggregate)
Death of a pet caused due to accident (Cats or dogs) Up to SGD500
Monetary loss (involves forced entry) Up to SGD1,000
Breaking of fixed glass and mirrors due to an accident Up to SGD500
Spoilt frozen food Up to SGD500
Reinstatement of the amount insured subject to added premium (Automatic) Available


Premium Classic Premium Ultimate
Yearly premium (Includes 7% GST) SGD119.88 SGD222.60 SGD291.00

DBS home insurance policy exclusions

DBS home insurance does not provide coverage for any damage to your property or any injury or disease caused to anyone arising from:

1. Radioactive contamination

2. War and terrorism

3. Political risks

4. Sonic bangs

5. Consequential damage of any kind unless precisely provided for otherwise in the policy.

6. Pollution or contamination except to the extent specifically provided.

7. Any mysterious loss or unexplained disappearance.

8. Deliberate acts by you or any other adult member of your household.

DBS home insurance claims process

You can make a claim online by visiting www.chubbclaims-dbs.com.sg. If you require assistance for filing a claim, you can contact the insurer on their hotline number.

How to cancel DBS home insurance policy

Your DBS home insurance can be cancelled either by you or the company by giving a notice of 30 days. Refunds, if there are any will be processed as follows:

  • If you choose to cancel the policy, DBS will refund the premium you have paid on a prorated basis, starting from the cancellation date if you have not raised any claim in relation to the period of insurance. A refund will be given only if the amount is more than S$10.
  • If DBS cancels the policy, it will make a pro-rata repayment of the premium paid.

DBS has the right to withhold the balance of the premium from any due claim amount.

DBS home insurance contact

If you want to know more about DBS home insurance or myHome Protect, get in touch with your Chubb Customer Service Hotline available on +65 6398 8797. This number is available between Mondays and Fridays from 9:00 a.m. to 5:00 p.m. except on public holidays.

Alternatively, you can email the Chubb at [email protected]

Frequently Asked Questions (FAQs)

  1. What is the eligibility criteria for DBS bank property insurance?
  2. To know the eligibility criteria for DBS bank property insurance, you should contact the bank.

  3. How do I apply for the DBS bank property insurance policies?
  4. To apply for the MyProtector Mortgage insurance policy, you should either visit the bank in person or contact them. You can apply for HomeShield insurance policy online on the bank’s website.

  5. What happens to my policy if I change my house?
  6. In case you shift your house, you have to inform the insurance company in writing about the change in order to protect your new residence.

  7. Will I be charged when I use the online application service?
  8. No, the online application service is free of charge.

  9. Who do I contact if I have any questions regarding the policies?
  10. For any information regarding the policies, please contact DBS bank or visit any of its branches.

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