• DBS Property Insurance

    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.

    HomeShield

    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

    Coverage

    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

    Yes

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

    Yes

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

    Yes

    • Earthquake

    Yes

    • Aircraft

    Yes

    • Damage caused by a road vehicle

    Yes

    • Riots or strikes

    Yes

    • Malicious damage

    Yes

    • Robbery by violence and forced entry

    Yes

    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

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

    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.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.